Lmcg Investments LLC Sells 16,532 Shares of e.l.f. Beauty $ELF

Key Points

• Lmcg Investments LLC sold 16,532 shares of e.l.f. Beauty, reducing its stake by 26.3%, resulting in ownership of 46,416 shares valued at approximately $5.78 million.
• In a significant insider transaction, CEO Tarang Amin sold 116,315 shares at around $132.24, marking a 58.71% decrease in his position, with total sales by insiders amounting to over $40.99 million in the last quarter.
• Wall Street analysts remain positive on e.l.f. Beauty, with multiple firms raising price targets, including a new high of $170.00 from Morgan Stanley, indicating a strong buy sentiment for the stock.

Lmcg Investments LLC cut its position in e.l.f. Beauty (NYSE:ELF - Free Report) by 26.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,416 shares of the company's stock after selling 16,532 shares during the quarter. Lmcg Investments LLC owned about 0.08% of e.l.f. Beauty worth $5,776,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ELF. Golden State Wealth Management LLC acquired a new position in e.l.f. Beauty in the 1st quarter valued at $33,000. Larson Financial Group LLC raised its holdings in e.l.f. Beauty by 56.5% in the 1st quarter. Larson Financial Group LLC now owns 676 shares of the company's stock valued at $42,000 after acquiring an additional 244 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in e.l.f. Beauty by 577.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock valued at $49,000 after acquiring an additional 647 shares in the last quarter. Signaturefd LLC raised its holdings in e.l.f. Beauty by 27.9% in the 1st quarter. Signaturefd LLC now owns 858 shares of the company's stock valued at $54,000 after acquiring an additional 187 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in e.l.f. Beauty by 6,242.9% in the 1st quarter. Brooklyn Investment Group now owns 888 shares of the company's stock valued at $56,000 after acquiring an additional 874 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other e.l.f. Beauty news, insider Kory Marchisotto sold 13,515 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $140.10, for a total value of $1,893,451.50. Following the completion of the transaction, the insider owned 144,788 shares of the company's stock, valued at $20,284,798.80. This represents a 8.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tarang Amin sold 116,315 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $132.24, for a total value of $15,381,495.60. Following the completion of the transaction, the chief executive officer directly owned 81,818 shares of the company's stock, valued at approximately $10,819,612.32. The trade was a 58.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 301,060 shares of company stock worth $40,994,733. Company insiders own 3.90% of the company's stock.

e.l.f. Beauty Price Performance

e.l.f. Beauty stock opened at $129.37 on Friday. 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 has a 52 week low of $49.40 and a 52 week high of $150.99. The stock has a market capitalization of $7.67 billion, a P/E ratio of 76.10, a price-to-earnings-growth ratio of 3.37 and a beta of 1.57. The stock has a fifty day moving average of $128.38 and a 200-day moving average of $104.65.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The company had revenue of $353.74 million during the quarter, compared to analysts' expectations of $348.99 million. During the same quarter in the previous year, the firm earned $1.10 EPS. e.l.f. Beauty's revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ELF. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $155.00 price objective (up from $140.00) on shares of e.l.f. Beauty in a report on Monday, September 8th. UBS Group lifted their price objective on e.l.f. Beauty from $112.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on e.l.f. Beauty from $137.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Bank of America lifted their price objective on e.l.f. Beauty from $135.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Finally, Morgan Stanley lifted their price objective on e.l.f. Beauty from $134.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, e.l.f. Beauty presently has an average rating of "Moderate Buy" and an average target price of $142.07.

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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