Mackenzie Financial Corp Has $54.17 Million Position in e.l.f. Beauty (NYSE:ELF)

Key Points

• Mackenzie Financial Corp increased its stake in e.l.f. Beauty by 68.0%, now holding over 862,671 shares valued at approximately $54.17 million.
• e.l.f. Beauty reported $0.78 earnings per share (EPS) for its latest quarter, exceeding analysts' expectations and achieving a 3.6% year-over-year revenue growth.
• Institutional investors and hedge funds collectively own 92.44% of e.l.f. Beauty's stock, indicating strong institutional support for the company.

Mackenzie Financial Corp lifted its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 68.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 862,671 shares of the company's stock after acquiring an additional 349,024 shares during the period. Mackenzie Financial Corp owned 1.53% of e.l.f. Beauty worth $54,167,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ELF. Teacher Retirement System of Texas acquired a new position in shares of e.l.f. Beauty during the 4th quarter valued at $302,000. Vanguard Group Inc. raised its holdings in e.l.f. Beauty by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,497,208 shares of the company's stock worth $690,174,000 after buying an additional 68,103 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in e.l.f. Beauty by 47.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 40,413 shares of the company's stock worth $5,067,000 after buying an additional 13,072 shares during the last quarter. Blair William & Co. IL raised its holdings in e.l.f. Beauty by 85.8% during the fourth quarter. Blair William & Co. IL now owns 35,414 shares of the company's stock worth $4,446,000 after buying an additional 16,353 shares during the last quarter. Finally, Norges Bank acquired a new position in e.l.f. Beauty during the fourth quarter worth $7,403,000. Institutional investors and hedge funds own 92.44% of the company's stock.

e.l.f. Beauty Stock Performance

NYSE ELF opened at $120.96 on Tuesday. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $190.38. The company has a 50-day simple moving average of $114.62 and a 200 day simple moving average of $88.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 3.05. The company has a market capitalization of $6.86 billion, a PE ratio of 62.67, a price-to-earnings-growth ratio of 2.87 and a beta of 1.52.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.06. e.l.f. Beauty had a net margin of 8.53% and a return on equity of 17.98%. The business had revenue of $332.65 million during the quarter, compared to the consensus estimate of $327.45 million. During the same quarter last year, the company posted $0.53 earnings per share. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. On average, research analysts predict that e.l.f. Beauty will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bank of America upped their price objective on shares of e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Piper Sandler restated an "overweight" rating and set a $109.00 price objective (up previously from $81.00) on shares of e.l.f. Beauty in a report on Thursday, May 29th. Raymond James Financial upped their price objective on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Robert W. Baird upped their price objective on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Finally, Jefferies Financial Group set a $115.00 target price on shares of e.l.f. Beauty and gave the stock a "buy" rating in a research note on Thursday, May 29th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, e.l.f. Beauty has a consensus rating of "Moderate Buy" and a consensus target price of $123.94.

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

In related news, CEO Tarang Amin sold 2,405 shares of the firm's 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 approximately $21,944,379.46. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kory Marchisotto sold 1,496 shares of the firm's 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 insider owned 158,303 shares of the company's stock, valued at $18,618,015.83. This trade represents a 0.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 126,589 shares of company stock valued at $14,547,949 in the last three months. 3.90% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.