Northwestern Mutual Wealth Management Co. Purchases 276,164 Shares of e.l.f. Beauty $ELF

Key Points

• Northwestern Mutual Wealth Management sharply increased its stake in e.l.f. Beauty during the fourth quarter, adding 276,164 shares and bringing its total holding to 276,364 shares worth about $21.0 million.
• Other institutional investors also adjusted positions in ELF, and overall institutions now own 92.44% of the company’s stock, highlighting continued heavy institutional interest.
• Despite a modest analyst consensus of Moderate Buy, e.l.f. Beauty shares were trading down about 3.7% at $52.82, near their 52-week low, while several insiders have recently sold stock.

Northwestern Mutual Wealth Management Co. grew its position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 138,082.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,364 shares of the company's stock after acquiring an additional 276,164 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.46% of e.l.f. Beauty worth $21,015,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ELF. Royal Bank of Canada increased its holdings in shares of e.l.f. Beauty by 9.9% during the first quarter. Royal Bank of Canada now owns 153,682 shares of the company's stock valued at $9,650,000 after acquiring an additional 13,851 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of e.l.f. Beauty by 168.6% during the first quarter. Integrated Wealth Concepts LLC now owns 6,483 shares of the company's stock valued at $407,000 after acquiring an additional 4,069 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of e.l.f. Beauty by 176.4% during the first quarter. NewEdge Advisors LLC now owns 4,677 shares of the company's stock valued at $294,000 after acquiring an additional 2,985 shares in the last quarter. United Services Automobile Association bought a new stake in shares of e.l.f. Beauty during the first quarter valued at approximately $240,000. Finally, Invesco Ltd. increased its holdings in shares of e.l.f. Beauty by 20.4% during the second quarter. Invesco Ltd. now owns 118,729 shares of the company's stock valued at $14,775,000 after acquiring an additional 20,140 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley restated an "equal weight" rating and set a $67.00 price objective (down from $80.00) on shares of e.l.f. Beauty in a report on Friday, May 1st. Wall Street Zen upgraded e.l.f. Beauty from a "sell" rating to a "hold" rating in a report on Saturday, January 24th. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on e.l.f. Beauty in a report on Thursday, May 14th. Bank of America cut their target price on e.l.f. Beauty from $115.00 to $93.00 and set a "buy" rating on the stock in a research report on Friday, April 10th. Finally, Evercore assumed coverage on e.l.f. Beauty in a research report on Thursday, April 2nd. They set an "inline" rating and a $68.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $99.06.

e.l.f. Beauty Stock Down 3.7%

ELF stock opened at $52.82 on Wednesday. The stock's fifty day simple moving average is $65.17 and its two-hundred day simple moving average is $76.96. The company has a current ratio of 2.76, a quick ratio of 1.89 and a debt-to-equity ratio of 0.70. e.l.f. Beauty has a 1-year low of $52.40 and a 1-year high of $150.99. The stock has a market cap of $3.12 billion, a P/E ratio of 29.84, a P/E/G ratio of 3.38 and a beta of 1.71.

Insiders Place Their Bets

In other e.l.f. Beauty news, insider Mandy J. Fields sold 23,656 shares of the business's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $63.66, for a total value of $1,505,940.96. Following the transaction, the insider owned 77,437 shares of the company's stock, valued at approximately $4,929,639.42. The trade was a 23.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kory Marchisotto sold 23,796 shares of the business's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $63.66, for a total value of $1,514,853.36. Following the completion of the sale, the insider owned 152,417 shares in the company, valued at approximately $9,702,866.22. The trade was a 13.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 210,013 shares of company stock valued at $13,315,490. 3.90% of the stock is currently owned by insiders.

About e.l.f. Beauty

e.l.f. Beauty NYSE: ELF is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company's portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.

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