Logan Capital Management Inc. Trims Stock Holdings in e.l.f. Beauty $ELF

Key Points

• Logan Capital Management Inc. reduced its stake in e.l.f. Beauty by 85.2%, selling 32,141 shares and retaining only 5,578 shares, valued at $350,000.
• Institutional investors and hedge funds now own 92.44% of e.l.f. Beauty's stock, with several firms like Champlain Investment Partners and Prime Capital Management significantly increasing their holdings.
• Wall Street analysts have varying price targets for e.l.f. Beauty, with Canaccord Genuity setting a target of $165.00 and B. Riley raising its target to $150.00.

Logan Capital Management Inc. lessened its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 85.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,578 shares of the company's stock after selling 32,141 shares during the quarter. Logan Capital Management Inc.'s holdings in e.l.f. Beauty were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC grew its position in shares of e.l.f. Beauty by 19.7% in the first quarter. Champlain Investment Partners LLC now owns 2,665,026 shares of the company's stock valued at $167,337,000 after purchasing an additional 438,575 shares during the period. Prime Capital Management Co Ltd raised its position in shares of e.l.f. Beauty by 167.8% in the 1st quarter. Prime Capital Management Co Ltd now owns 604,535 shares of the company's stock worth $37,959,000 after buying an additional 378,826 shares during the period. Mackenzie Financial Corp boosted its holdings in e.l.f. Beauty by 68.0% in the first quarter. Mackenzie Financial Corp now owns 862,671 shares of the company's stock valued at $54,167,000 after acquiring an additional 349,024 shares during the last quarter. Generate Investment Management Ltd purchased a new stake in e.l.f. Beauty during the first quarter valued at about $21,650,000. Finally, Congress Asset Management Co. increased its stake in e.l.f. Beauty by 53.7% during the first quarter. Congress Asset Management Co. now owns 938,970 shares of the company's stock worth $58,958,000 after acquiring an additional 327,980 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ELF shares. Canaccord Genuity Group set a $165.00 target price on shares of e.l.f. Beauty in a research report on Tuesday. B. Riley reissued a "buy" rating and issued a $150.00 target price (up previously from $110.00) on shares of e.l.f. Beauty in a research note on Friday, June 13th. Truist Financial lifted their target price on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 6th. Piper Sandler began coverage on e.l.f. Beauty in a report on Thursday, September 4th. They issued an "overweight" rating and a $150.00 price target for the company. Finally, Jefferies Financial Group set a $115.00 price objective on e.l.f. Beauty and gave the company a "buy" rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.25.

Insider Buying and Selling

In related news, Director Lauren Cooks Levitan sold 4,630 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $118.94, for a total transaction of $550,692.20. Following the completion of the transaction, the director owned 11,507 shares in the company, valued at $1,368,642.58. The trade was a 28.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.90% of the stock is currently owned by insiders.

e.l.f. Beauty Price Performance

Shares of NYSE ELF opened at $139.56 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. e.l.f. Beauty has a fifty-two week low of $49.40 and a fifty-two week high of $147.33. The business has a 50 day moving average price of $119.43 and a two-hundred day moving average price of $93.71. The firm has a market cap of $8.28 billion, a PE ratio of 82.09, a price-to-earnings-growth ratio of 3.34 and a beta of 1.59.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $348.99 million. During the same quarter in the prior year, the business posted $1.10 EPS. The company's revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts expect that e.l.f. Beauty will post 2.38 earnings per share 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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