Kornitzer Capital Management Inc. KS Buys 161,302 Shares of e.l.f. Beauty (NYSE:ELF)

Kornitzer Capital Management Inc. KS grew its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 394.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,202 shares of the company's stock after buying an additional 161,302 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.36% of e.l.f. Beauty worth $12,696,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in shares of e.l.f. Beauty during the 4th quarter valued at $2,459,000. PNC Financial Services Group Inc. raised its stake in e.l.f. Beauty by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,796 shares of the company's stock valued at $1,230,000 after purchasing an additional 404 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in e.l.f. Beauty by 4.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,251 shares of the company's stock valued at $1,789,000 after purchasing an additional 662 shares during the period. Avantax Advisory Services Inc. raised its stake in e.l.f. Beauty by 31.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,430 shares of the company's stock valued at $305,000 after purchasing an additional 588 shares during the period. Finally, Swiss National Bank raised its stake in e.l.f. Beauty by 0.7% during the 4th quarter. Swiss National Bank now owns 110,900 shares of the company's stock valued at $13,923,000 after purchasing an additional 800 shares during the period. 92.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on ELF shares. Bank of America boosted their price target on shares of e.l.f. Beauty from $113.00 to $135.00 and gave the company a "buy" rating in a report on Friday, June 20th. Morgan Stanley upped their price target on shares of e.l.f. Beauty from $70.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. B. Riley reaffirmed a "buy" rating and issued a $150.00 price target (up from $110.00) on shares of e.l.f. Beauty in a research note on Friday, June 13th. Canaccord Genuity Group lifted their price objective on shares of e.l.f. Beauty from $114.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Truist Financial lifted their price objective on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $123.38.

e.l.f. Beauty Price Performance

Shares of NYSE:ELF traded up $6.86 during midday trading on Friday, reaching $117.76. 2,538,708 shares of the company's stock were exchanged, compared to its average volume of 2,563,192. The company's 50 day simple moving average is $108.82 and its two-hundred day simple moving average is $89.65. The firm has a market capitalization of $6.68 billion, a PE ratio of 61.02, a price-to-earnings-growth ratio of 2.57 and a beta of 1.52. e.l.f. Beauty has a 12 month low of $49.40 and a 12 month high of $190.38. 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 released its quarterly earnings data on Wednesday, May 28th. The company reported $0.78 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 net margin of 8.53% and a return on equity of 17.98%. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. Equities research analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling at e.l.f. Beauty

In related news, CEO Tarang Amin sold 2,405 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $117.61, for a total transaction of $282,852.05. Following the completion of the sale, the chief executive officer owned 186,586 shares in the company, valued at $21,944,379.46. This trade represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Joshua Allen Franks sold 1,496 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $117.61, for a total transaction of $175,944.56. Following the sale, the senior vice president directly owned 120,471 shares in the company, valued at approximately $14,168,594.31. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,207 shares of company stock worth $25,252,926 over the last ninety days. Company insiders own 3.90% of the company's stock.

About e.l.f. Beauty

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.