Janney Montgomery Scott LLC Has $2.80 Million Stock Holdings in e.l.f. Beauty $ELF

Key Points

• Janney Montgomery Scott LLC increased its holdings in e.l.f. Beauty by 83.3%, acquiring a total of 22,528 shares valued at approximately $2.80 million at the end of the most recent quarter.
• e.l.f. Beauty reported $0.89 earnings per share (EPS) for the last quarter, exceeding estimates, with a year-over-year revenue growth of 9.0%.
• Several analysts raised their price targets for e.l.f. Beauty, with Morgan Stanley setting a new target of $170.00 and other firms issuing "Buy" ratings, indicating strong confidence in the stock's potential.

Janney Montgomery Scott LLC grew its position in e.l.f. Beauty (NYSE:ELF - Free Report) by 83.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,528 shares of the company's stock after buying an additional 10,239 shares during the period. Janney Montgomery Scott LLC's holdings in e.l.f. Beauty were worth $2,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ELF. Farther Finance Advisors LLC increased its holdings in e.l.f. Beauty by 11.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 993 shares of the company's stock worth $124,000 after purchasing an additional 105 shares in the last quarter. Signaturefd LLC increased its holdings 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 purchasing an additional 187 shares in the last quarter. State of Michigan Retirement System increased its holdings in e.l.f. Beauty by 1.5% during the 1st quarter. State of Michigan Retirement System now owns 13,500 shares of the company's stock worth $848,000 after purchasing an additional 200 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in e.l.f. Beauty by 1.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock worth $992,000 after purchasing an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in e.l.f. Beauty by 10.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,205 shares of the company's stock worth $274,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

e.l.f. Beauty Trading Down 0.1%

Shares of NYSE:ELF opened at $144.92 on Friday. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $150.99. The company has a market capitalization of $8.60 billion, a P/E ratio of 85.25, a price-to-earnings-growth ratio of 3.37 and a beta of 1.57. The company has a 50-day simple moving average of $128.12 and a 200 day simple moving average of $104.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.34 and a current ratio of 3.26.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The business had revenue of $353.74 million during the quarter, compared to the consensus estimate of $348.99 million. During the same period last year, the business posted $1.10 EPS. e.l.f. Beauty's revenue was up 9.0% on a year-over-year basis. Sell-side analysts forecast that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ELF shares. Morgan Stanley increased their target price on e.l.f. Beauty from $134.00 to $170.00 and gave the stock an "overweight" rating in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Bank of America increased their target price on e.l.f. Beauty from $135.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, September 17th. Piper Sandler initiated coverage on e.l.f. Beauty in a report on Thursday, September 4th. They set an "overweight" rating and a $150.00 target price for the company. Finally, B. Riley increased their price objective on shares of e.l.f. Beauty from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, e.l.f. Beauty has an average rating of "Moderate Buy" and a consensus target price of $139.53.

Insiders Place Their Bets

In other e.l.f. Beauty news, CEO Tarang Amin sold 116,315 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $132.24, for a total transaction of $15,381,495.60. Following the completion of the sale, the chief executive officer directly owned 81,818 shares in the company, valued at $10,819,612.32. This trade represents a 58.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Joshua Allen Franks sold 7,913 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $145.00, for a total transaction of $1,147,385.00. Following the sale, the senior vice president owned 99,369 shares of the company's stock, valued at $14,408,505. This trade represents a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,060 shares of company stock worth $40,994,733 in the last three months. Insiders own 3.90% of the company's stock.

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.

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