Intact Investment Management Inc. Trims Holdings in e.l.f. Beauty (NYSE:ELF)

Intact Investment Management Inc. trimmed its position in e.l.f. Beauty (NYSE:ELF - Free Report) by 46.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,600 shares of the company's stock after selling 2,300 shares during the quarter. Intact Investment Management Inc.'s holdings in e.l.f. Beauty were worth $163,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nemes Rush Group LLC purchased a new stake in e.l.f. Beauty in the 4th quarter worth approximately $27,000. Orion Capital Management LLC purchased a new stake in e.l.f. Beauty in the 4th quarter worth approximately $30,000. Promus Capital LLC purchased a new stake in e.l.f. Beauty in the 4th quarter worth approximately $31,000. Kestra Investment Management LLC purchased a new stake in e.l.f. Beauty in the 4th quarter worth approximately $32,000. Finally, Horizon Investments LLC increased its holdings in e.l.f. Beauty by 29.0% in the 4th quarter. Horizon Investments LLC now owns 742 shares of the company's stock worth $93,000 after acquiring an additional 167 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 directly owns 117,394 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Catherine Hartnett sold 18,383 shares of e.l.f. Beauty stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $109.99, for a total value of $2,021,946.17. Following the sale, the insider now owns 54,163 shares of the company's stock, valued at approximately $5,957,388.37. This trade represents a 25.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,207 shares of company stock worth $25,252,926 over the last three months. 3.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ELF shares. B. Riley reaffirmed a "buy" rating and set a $150.00 price objective (up from $110.00) on shares of e.l.f. Beauty in a report on Friday, June 13th. UBS Group increased their price objective on shares of e.l.f. Beauty from $59.00 to $84.00 and gave the company a "neutral" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. increased their price objective on shares of e.l.f. Beauty from $70.00 to $123.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Morgan Stanley increased their price objective on shares of 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. Finally, Jefferies Financial Group set a $115.00 price objective on shares of e.l.f. Beauty and gave the company a "buy" rating in a report on Thursday, May 29th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $118.88.

e.l.f. Beauty Stock Down 1.8%

NYSE ELF opened at $120.08 on Monday. The company has a market capitalization of $6.76 billion, a P/E ratio of 62.22, a P/E/G ratio of 2.66 and a beta of 1.51. The stock has a 50 day moving average price of $85.92 and a 200-day moving average price of $90.81. e.l.f. Beauty has a one year low of $49.40 and a one year high of $219.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 3.05.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued 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 company had revenue of $332.65 million during the quarter, compared to the consensus estimate of $327.45 million. e.l.f. Beauty had a return on equity of 17.98% and a net margin of 8.53%. e.l.f. Beauty's revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. As a group, equities analysts predict that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

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.

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