Park Avenue Securities LLC Sells 3,705 Shares of e.l.f. Beauty $ELF

Key Points

• Park Avenue Securities LLC has reduced its stake in e.l.f. Beauty by 30.8% in the second quarter, now holding 8,333 shares valued at approximately $1,037,000.
• During the first quarter, several institutional investors like Aurora Investment Counsel and Harbor Capital Advisors made significant investments in e.l.f. Beauty, increasing institutional ownership to 92.44%.
• e.l.f. Beauty reported a revenue increase of 9.0% year-over-year, with quarterly earnings exceeding analysts' expectations, reflecting strong financial performance and positive market sentiment.

Park Avenue Securities LLC trimmed its holdings in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 30.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,333 shares of the company's stock after selling 3,705 shares during the period. Park Avenue Securities LLC's holdings in e.l.f. Beauty were worth $1,037,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aurora Investment Counsel bought a new position in e.l.f. Beauty during the 1st quarter valued at about $294,000. Caas Capital Management LP lifted its holdings in e.l.f. Beauty by 1,466.7% during the 1st quarter. Caas Capital Management LP now owns 4,700 shares of the company's stock valued at $295,000 after purchasing an additional 4,400 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in e.l.f. Beauty by 42.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company's stock valued at $6,482,000 after purchasing an additional 30,530 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in e.l.f. Beauty by 165.6% during the 1st quarter. Vontobel Holding Ltd. now owns 15,181 shares of the company's stock valued at $953,000 after purchasing an additional 9,466 shares during the last quarter. Finally, Generate Investment Management Ltd bought a new position in e.l.f. Beauty during the 1st quarter valued at about $21,650,000. 92.44% of the stock is owned by institutional investors.

Insider Activity at e.l.f. Beauty

In other news, insider Mandy J. Fields sold 5,298 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $150.21, for a total transaction of $795,812.58. Following the completion of the sale, the insider owned 58,856 shares in the company, valued at $8,840,759.76. The trade was a 8.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kory Marchisotto sold 10,812 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $150.00, for a total transaction of $1,621,800.00. Following the sale, the insider owned 133,976 shares of the company's stock, valued at approximately $20,096,400. This represents a 7.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,745 shares of company stock worth $25,613,238 over the last 90 days. Insiders own 3.90% of the company's stock.

e.l.f. Beauty Trading Down 0.5%

ELF opened at $129.99 on Friday. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $7.71 billion, a PE ratio of 76.47, a PEG ratio of 3.03 and a beta of 1.59. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $150.99. The firm has a 50-day moving average price of $124.78 and a two-hundred day moving average price of $99.69.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The company had revenue of $353.74 million during the quarter, compared to analysts' expectations of $348.99 million. During the same quarter in the previous year, the company earned $1.10 EPS. e.l.f. Beauty's revenue was up 9.0% on a year-over-year basis. As a group, equities analysts anticipate that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ELF. Raymond James Financial reissued a "strong-buy" rating and set a $155.00 price target (up from $140.00) on shares of e.l.f. Beauty in a report on Monday, September 8th. The Goldman Sachs Group lifted their price target on shares of e.l.f. Beauty from $120.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Bank of America lifted their price target on shares of e.l.f. Beauty from $135.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Truist Financial raised their price objective on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Morgan Stanley upgraded shares of e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $114.00 to $134.00 in a research report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $133.40.

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.

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