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

Independence Bank of Kentucky lifted its position in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 299.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,674 shares of the company's stock after purchasing an additional 10,254 shares during the quarter. Independence Bank of Kentucky's holdings in e.l.f. Beauty were worth $859,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ELF. Nemes Rush Group LLC purchased a new position in e.l.f. Beauty during the 4th quarter valued at approximately $27,000. Orion Capital Management LLC bought a new position in shares of e.l.f. Beauty during the 4th quarter valued at approximately $30,000. Promus Capital LLC purchased a new position in shares of e.l.f. Beauty in the fourth quarter valued at $31,000. Kestra Investment Management LLC bought a new stake in e.l.f. Beauty in the fourth quarter worth $32,000. Finally, Wilmington Savings Fund Society FSB raised its stake in e.l.f. Beauty by 84.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 429 shares of the company's stock valued at $54,000 after purchasing an additional 197 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Tarang Amin sold 97,915 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $53.36, for a total value of $5,224,744.40. Following the completion of the sale, the chief executive officer now directly owns 181,289 shares of the company's stock, valued at $9,673,581.04. This represents a 35.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joshua Allen Franks sold 51,353 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $2,740,196.08. Following the transaction, the senior vice president now owns 114,660 shares in the company, valued at approximately $6,118,257.60. This represents a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 309,375 shares of company stock valued at $23,170,147 over the last quarter. 3.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of e.l.f. Beauty from $59.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 21st. Bank of America lifted their price target on e.l.f. Beauty from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Morgan Stanley upped their price objective on e.l.f. Beauty from $70.00 to $105.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Piper Sandler reaffirmed an "overweight" rating and issued a $109.00 price objective (up from $81.00) on shares of e.l.f. Beauty in a research note on Thursday, May 29th. Finally, Jefferies Financial Group set a $115.00 target price on e.l.f. Beauty and gave the company a "buy" rating in a research report on Thursday, May 29th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $120.71.

e.l.f. Beauty Stock Up 1.8%

Shares of ELF opened at $117.83 on Friday. The firm has a fifty day moving average price of $72.37 and a 200-day moving average price of $91.45. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $6.64 billion, a P/E ratio of 69.72, a P/E/G ratio of 6.76 and a beta of 1.52. e.l.f. Beauty, Inc. has a 12-month low of $49.40 and a 12-month high of $219.77.

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

e.l.f. Beauty Company 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.

Want to see what other hedge funds are holding ELF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for e.l.f. Beauty, Inc. (NYSE:ELF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.