Independence Bank of Kentucky Increases Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Independence Bank of Kentucky increased its position in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 299.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,674 shares of the company's stock after purchasing an additional 10,254 shares during the period. Independence Bank of Kentucky's holdings in e.l.f. Beauty were worth $859,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in e.l.f. Beauty by 149.8% during the fourth quarter. Principal Financial Group Inc. now owns 328,557 shares of the company's stock worth $41,250,000 after buying an additional 197,028 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of e.l.f. Beauty by 441.0% during the fourth quarter. Global Retirement Partners LLC now owns 8,283 shares of the company's stock worth $1,040,000 after acquiring an additional 6,752 shares in the last quarter. Mitchell Capital Management Co. acquired a new stake in shares of e.l.f. Beauty in the 4th quarter worth about $2,655,000. Baillie Gifford & Co. raised its holdings in shares of e.l.f. Beauty by 51.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company's stock worth $1,005,584,000 after acquiring an additional 2,703,742 shares during the last quarter. Finally, Granahan Investment Management LLC bought a new position in e.l.f. Beauty in the 4th quarter valued at about $9,671,000. Institutional investors and hedge funds own 92.44% of the company's stock.

e.l.f. Beauty Price Performance

ELF traded up $6.71 during trading on Wednesday, reaching $124.67. 2,652,080 shares of the company were exchanged, compared to its average volume of 2,529,419. e.l.f. Beauty, Inc. has a 12-month low of $49.40 and a 12-month high of $219.77. The company's 50-day moving average is $74.61 and its two-hundred day moving average is $91.36. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 73.77, a P/E/G ratio of 6.76 and a beta of 1.52.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.06. The firm had revenue of $332.65 million for the quarter, compared to the consensus estimate of $327.45 million. e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. Research analysts forecast that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ELF has been the subject of several recent research reports. Bank of America upped their price target on e.l.f. Beauty from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Jefferies Financial Group set a $115.00 price objective on shares of e.l.f. Beauty and gave the stock a "buy" rating in a research report on Thursday, May 29th. UBS Group boosted their target price on shares of e.l.f. Beauty from $59.00 to $84.00 and gave the company a "neutral" rating in a research note on Wednesday, May 21st. DA Davidson lowered their price target on shares of e.l.f. Beauty from $80.00 to $75.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Finally, Morgan Stanley increased their price objective on e.l.f. Beauty from $70.00 to $105.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.71.

Insider Activity

In related news, insider Scott Milsten sold 1,442 shares of e.l.f. Beauty stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $114.78, for a total transaction of $165,512.76. Following the completion of the sale, the insider now owns 117,394 shares of the company's stock, valued at approximately $13,474,483.32. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Catherine Hartnett sold 9,506 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $116.52, for a total value of $1,107,639.12. Following the completion of the transaction, the insider now owns 53,903 shares in the company, valued at $6,280,777.56. This represents a 14.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,207 shares of company stock worth $25,252,926 in the last three months. Corporate insiders own 3.50% of the company's stock.

e.l.f. Beauty Profile

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.