e.l.f. Beauty (NYSE:ELF) Holdings Cut by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. sold 7,896 shares of e.l.f. Beauty, reducing its holdings by 66.9% to 3,906 shares, valued at approximately $245,000.
• Insider Joshua Allen Franks sold 1,496 shares of e.l.f. Beauty, totaling $175,944.56, which corresponds to a 1.23% decrease in his position.
• e.l.f. Beauty reported a quarterly EPS of $0.78, surpassing analyst expectations, with revenues reaching $332.65 million.

Pacer Advisors Inc. trimmed its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 66.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,906 shares of the company's stock after selling 7,896 shares during the quarter. Pacer Advisors Inc.'s holdings in e.l.f. Beauty were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avantax Advisory Services Inc. increased its holdings in e.l.f. Beauty by 62.6% in the first quarter. Avantax Advisory Services Inc. now owns 3,952 shares of the company's stock valued at $248,000 after buying an additional 1,522 shares in the last quarter. Oak Thistle LLC boosted its position in e.l.f. Beauty by 231.9% during the first quarter. Oak Thistle LLC now owns 8,468 shares of the company's stock worth $532,000 after purchasing an additional 5,917 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in e.l.f. Beauty in the first quarter valued at $11,907,000. Y Intercept Hong Kong Ltd purchased a new position in shares of e.l.f. Beauty in the first quarter valued at $425,000. Finally, Peterson Wealth Services raised its stake in shares of e.l.f. Beauty by 77.9% during the 1st quarter. Peterson Wealth Services now owns 8,729 shares of the company's stock worth $548,000 after buying an additional 3,822 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ELF shares. Piper Sandler restated an "overweight" rating and set a $109.00 target price (up previously from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. Morgan Stanley upped their target price on e.l.f. Beauty from $70.00 to $105.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Truist Financial raised their price target on e.l.f. Beauty from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Bank of America increased their price objective on e.l.f. Beauty from $113.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Finally, Canaccord Genuity Group boosted their target price on shares of e.l.f. Beauty from $114.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $123.94.

e.l.f. Beauty Trading Down 0.1%

Shares of e.l.f. Beauty stock traded down $0.08 during trading hours on Monday, hitting $116.34. The company's stock had a trading volume of 1,355,117 shares, compared to its average volume of 2,663,352. The company has a quick ratio of 2.00, a current ratio of 3.05 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $6.60 billion, a PE ratio of 60.28, a P/E/G ratio of 2.77 and a beta of 1.57. The business has a fifty day moving average of $117.70 and a 200 day moving average of $88.42. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $190.38.

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

Insider Activity

In other news, CEO Tarang Amin sold 2,405 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 $282,852.05. Following the completion of the sale, the chief executive officer directly owned 186,586 shares in the company, valued at $21,944,379.46. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mandy J. Fields sold 1,487 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $117.61, for a total value of $174,886.07. Following the completion of the transaction, the insider directly owned 119,846 shares of the company's stock, valued at $14,095,088.06. This represents a 1.23% 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 worth $14,547,949 over the last three months. 3.90% of the stock is currently owned by corporate insiders.

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.