Invesco Ltd. cut its stake in e.l.f. Beauty (NYSE:ELF - Free Report) by 32.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,589 shares of the company's stock after selling 48,250 shares during the period. Invesco Ltd. owned about 0.17% of e.l.f. Beauty worth $6,190,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Orion Capital Management LLC acquired a new position in shares of e.l.f. Beauty in the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC bought a new stake in e.l.f. Beauty during the 1st quarter worth approximately $33,000. Larson Financial Group LLC grew its position in e.l.f. Beauty by 56.5% during the 1st quarter. Larson Financial Group LLC now owns 676 shares of the company's stock worth $42,000 after acquiring an additional 244 shares during the last quarter. Signaturefd LLC grew its position in e.l.f. Beauty by 27.9% during the 1st quarter. Signaturefd LLC now owns 858 shares of the company's stock worth $54,000 after acquiring an additional 187 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in e.l.f. Beauty during the 1st quarter worth approximately $69,000. 92.44% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on ELF. Piper Sandler restated an "overweight" rating and set a $109.00 price target (up from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. JPMorgan Chase & Co. decreased their price target on e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Raymond James Financial increased their price target on e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. UBS Group decreased their price target on e.l.f. Beauty from $120.00 to $112.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Finally, Bank of America increased their price target on e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, e.l.f. Beauty presently has a consensus rating of "Moderate Buy" and an average target price of $123.81.
Get Our Latest Stock Analysis on e.l.f. Beauty
Insider Transactions at e.l.f. Beauty
In other e.l.f. Beauty news, insider Jennifer Catherine Hartnett sold 18,383 shares of the 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 transaction, the insider directly owned 54,163 shares in the company, valued at approximately $5,957,388.37. This trade represents a 25.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joshua Allen Franks sold 11,860 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total value of $1,370,541.60. Following the completion of the transaction, the senior vice president owned 121,967 shares in the company, valued at $14,094,506.52. This represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 131,219 shares of company stock worth $15,098,642. Corporate insiders own 3.90% of the company's stock.
e.l.f. Beauty Stock Up 1.1%
Shares of ELF opened at $115.18 on Wednesday. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 67.75, a PEG ratio of 2.81 and a beta of 1.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.34 and a current ratio of 3.26. The business's fifty day moving average price is $118.09 and its two-hundred day moving average price is $89.77. e.l.f. Beauty has a 52 week low of $49.40 and a 52 week high of $159.22.
e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The firm had revenue of $353.74 million for the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The business's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $1.10 EPS. On average, analysts predict that e.l.f. Beauty will post 2.38 earnings per share for the current year.
e.l.f. Beauty Company Profile
(
Free Report)
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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