Peloton Wealth Strategists Takes $477,000 Position in e.l.f. Beauty $ELF

Key Points

• Peloton Wealth Strategists has acquired a new stake in e.l.f. Beauty, purchasing 7,602 shares valued at approximately $477,000.
• Several other hedge funds have also increased their positions in e.l.f. Beauty, with institutional investors currently holding 92.44% of the stock.
• Wall Street analysts have mostly positive outlooks for e.l.f. Beauty, with an average price target of $129.94 and a consensus rating of "Moderate Buy".

Peloton Wealth Strategists purchased a new stake in e.l.f. Beauty (NYSE:ELF - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,602 shares of the company's stock, valued at approximately $477,000.

Other hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of e.l.f. Beauty in the 4th quarter valued at approximately $30,000. Golden State Wealth Management LLC bought a new position in e.l.f. Beauty in the 1st quarter valued at approximately $33,000. Larson Financial Group LLC raised its holdings in e.l.f. Beauty by 56.5% in the 1st quarter. Larson Financial Group LLC now owns 676 shares of the company's stock valued at $42,000 after buying an additional 244 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in e.l.f. Beauty by 577.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock valued at $49,000 after buying an additional 647 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in e.l.f. Beauty by 27.9% in the 1st quarter. Signaturefd LLC now owns 858 shares of the company's stock valued at $54,000 after buying an additional 187 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ELF has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered shares of e.l.f. Beauty from a "buy" rating to a "hold" rating and raised their price objective for the company from $121.00 to $128.00 in a report on Tuesday, September 2nd. Robert W. Baird raised their price objective on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Raymond James Financial reiterated a "strong-buy" rating and issued a $155.00 price objective (up previously from $140.00) on shares of e.l.f. Beauty in a report on Monday. 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 report on Friday, June 6th. Finally, Bank of America raised their price objective on shares of e.l.f. Beauty from $113.00 to $135.00 and gave the company a "buy" rating in a report on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $129.94.

Insider Activity at e.l.f. Beauty

In other news, Director Lauren Cooks Levitan sold 4,630 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $118.94, for a total transaction of $550,692.20. Following the completion of the sale, the director owned 11,507 shares of the company's stock, valued at $1,368,642.58. This trade represents a 28.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 3.90% of the stock is currently owned by company insiders.

e.l.f. Beauty Stock Up 3.1%

e.l.f. Beauty stock opened at $138.15 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.34 and a current ratio of 3.26. e.l.f. Beauty has a 52-week low of $49.40 and a 52-week high of $147.33. The firm has a 50 day moving average price of $119.17 and a two-hundred day moving average price of $93.39. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 81.27, a PEG ratio of 3.24 and a beta of 1.59.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share (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 firm had revenue of $353.74 million during the quarter, compared to analyst estimates of $348.99 million. During the same quarter last year, the business earned $1.10 EPS. The company's revenue was up 9.0% compared to the same quarter last year. Equities analysts predict that e.l.f. Beauty will post 2.38 EPS for the current year.

About e.l.f. Beauty

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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