MetLife Investment Management LLC Has $13.43 Million Stake in e.l.f. Beauty $ELF

Key Points

• MetLife Investment Management LLC increased its holdings in e.l.f. Beauty by 527.5% in the first quarter, owning approximately $13.43 million worth of stock.
• e.l.f. Beauty reported a quarterly EPS of $0.89, exceeding analysts' estimates and marking a 9% increase in revenue year-over-year.
• The company’s stock has seen significant interest from institutional investors, with 92.44% of its shares owned by them, indicating strong market confidence.

MetLife Investment Management LLC lifted its position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 527.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 213,820 shares of the company's stock after buying an additional 179,743 shares during the quarter. MetLife Investment Management LLC owned about 0.38% of e.l.f. Beauty worth $13,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Capital Management LLC acquired a new position in e.l.f. Beauty in the fourth quarter valued at about $30,000. Golden State Wealth Management LLC acquired a new position in e.l.f. Beauty in the first quarter valued at about $33,000. Larson Financial Group LLC raised its stake in e.l.f. Beauty by 56.5% in the first quarter. Larson Financial Group LLC now owns 676 shares of the company's stock valued at $42,000 after purchasing an additional 244 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in e.l.f. Beauty by 577.7% in the first quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock valued at $49,000 after purchasing an additional 647 shares in the last quarter. Finally, Signaturefd LLC raised its stake in e.l.f. Beauty by 27.9% in the first quarter. Signaturefd LLC now owns 858 shares of the company's stock valued at $54,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America boosted their target price on e.l.f. Beauty from $113.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Canaccord Genuity Group lowered their target price on e.l.f. Beauty from $150.00 to $128.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. The Goldman Sachs Group boosted their target price on e.l.f. Beauty from $120.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Morgan Stanley raised e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $114.00 to $134.00 in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. lowered their target price on e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, e.l.f. Beauty has a consensus rating of "Moderate Buy" and an average price target of $123.81.

Insider Activity

In other e.l.f. Beauty news, CEO Tarang Amin sold 24,533 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total transaction of $2,835,033.48. Following the transaction, the chief executive officer directly owned 188,991 shares in the company, valued at approximately $21,839,799.96. This represents a 11.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mandy J. Fields sold 11,795 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total value of $1,363,030.20. Following the transaction, the insider owned 121,333 shares in the company, valued at $14,021,241.48. The trade was a 8.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 112,836 shares of company stock worth $13,076,695. Company insiders own 3.90% of the company's stock.

e.l.f. Beauty Trading Up 3.8%

ELF stock traded up $4.77 during trading on Thursday, hitting $129.67. The company had a trading volume of 2,197,155 shares, compared to its average volume of 2,497,955. The business has a 50-day moving average of $118.29 and a 200-day moving average of $90.40. e.l.f. Beauty has a one year low of $49.40 and a one year high of $155.33. The stock has a market cap of $7.69 billion, a PE ratio of 76.28, a PEG ratio of 3.08 and a beta of 1.57. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $348.99 million. During the same period in the prior year, the business posted $1.10 earnings per share. The firm's revenue was up 9.0% on a year-over-year basis. Research analysts predict that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

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.