MassMutual Private Wealth & Trust FSB Lowers Stock Holdings in e.l.f. Beauty $ELF

Key Points

• MassMutual Private Wealth & Trust FSB reduced its stake in e.l.f. Beauty by 52.9%, selling 15,956 shares and ending up with 14,189 shares valued at approximately $1.77 million.
• Many institutional investors are increasing their holdings in e.l.f. Beauty, with Champlain Investment Partners boosting their stake by 19.7% and Prime Capital Management raising it by 167.8%.
• Analyst sentiment is strong, with e.l.f. Beauty receiving multiple upgrades, including a target price increase from $113 to $135 by Bank of America and a consensus target price of $131.73.

MassMutual Private Wealth & Trust FSB lowered its position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 52.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,189 shares of the company's stock after selling 15,956 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in e.l.f. Beauty were worth $1,766,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its holdings in e.l.f. Beauty by 7.1% during the 4th quarter. ProShare Advisors LLC now owns 2,635 shares of the company's stock valued at $331,000 after purchasing an additional 174 shares during the last quarter. Signaturefd LLC raised its position in shares of e.l.f. Beauty by 27.9% during the first quarter. Signaturefd LLC now owns 858 shares of the company's stock worth $54,000 after acquiring an additional 187 shares during the last quarter. State of Michigan Retirement System grew its position in shares of 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 buying an additional 200 shares during the period. Louisiana State Employees Retirement System grew its position in shares of 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 buying an additional 200 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in e.l.f. Beauty by 19.3% during the first quarter. Advisors Asset Management Inc. now owns 1,279 shares of the company's stock valued at $80,000 after purchasing an additional 207 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

e.l.f. Beauty Price Performance

Shares of NYSE ELF traded down $6.62 during midday trading on Friday, reaching $140.05. 2,370,614 shares of the stock traded hands, compared to its average volume of 1,703,045. The stock has a market capitalization of $8.31 billion, a PE ratio of 82.38, a P/E/G ratio of 3.25 and a beta of 1.59. The company's 50 day moving average is $122.52 and its 200 day moving average is $97.71. e.l.f. Beauty has a one year low of $49.40 and a one year high of $150.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate 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 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 company earned $1.10 earnings per share. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

ELF has been the topic of a number of research reports. Canaccord Genuity Group set a $165.00 price target on shares of e.l.f. Beauty in a research note on Tuesday, September 9th. The Goldman Sachs Group increased their price objective on shares of e.l.f. Beauty from $120.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Truist Financial increased their price target 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. UBS Group lowered their price target on shares of e.l.f. Beauty from $120.00 to $112.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Finally, B. Riley raised their price target on shares of e.l.f. Beauty from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $133.40.

Insider Buying and Selling

In other news, Director Lauren Cooks Levitan sold 4,630 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $118.94, for a total value of $550,692.20. Following the transaction, the director owned 11,507 shares of the company's stock, valued at $1,368,642.58. This represents a 28.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mandy J. Fields sold 55,692 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $136.28, for a total value of $7,589,705.76. Following the sale, the insider owned 64,154 shares in the company, valued at approximately $8,742,907.12. This trade represents a 46.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,745 shares of company stock valued at $25,613,238 in the last three months. 3.90% of the stock is currently owned by company 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.