e.l.f. Beauty $ELF Shares Bought by Prime Capital Management Co Ltd

Key Points

• Prime Capital Management Co Ltd significantly increased its holdings in e.l.f. Beauty by 167.8%, acquiring an additional 378,826 shares, bringing its total to 604,535 shares, which represents 40.3% of its portfolio.
• Other institutional investors, including AXA S.A. and Mackenzie Financial Corp, have also ramped up their investments, suggesting heightened interest in e.l.f. Beauty, which is now owned 92.44% by institutional investors and hedge funds.
• e.l.f. Beauty reported strong earnings with an EPS of $0.89 for the quarter, surpassing estimates, while analysts maintain a consensus rating of "Moderate Buy" with a price target of $123.81.

Prime Capital Management Co Ltd lifted its holdings in e.l.f. Beauty (NYSE:ELF - Free Report) by 167.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 604,535 shares of the company's stock after buying an additional 378,826 shares during the quarter. e.l.f. Beauty accounts for 40.3% of Prime Capital Management Co Ltd's portfolio, making the stock its 2nd biggest holding. Prime Capital Management Co Ltd owned 1.07% of e.l.f. Beauty worth $37,959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new stake in shares of e.l.f. Beauty during the 4th quarter worth $30,000. Golden State Wealth Management LLC purchased a new position in shares of e.l.f. Beauty in the 1st quarter valued at about $33,000. Larson Financial Group LLC lifted its stake in shares of 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 during the period. Signaturefd LLC boosted its holdings in e.l.f. Beauty by 27.9% during the first quarter. Signaturefd LLC now owns 858 shares of the company's stock worth $54,000 after buying an additional 187 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in e.l.f. Beauty by 6,242.9% during the first quarter. Brooklyn Investment Group now owns 888 shares of the company's stock worth $56,000 after buying an additional 874 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ELF shares. Jefferies Financial Group set a $115.00 price target on shares of e.l.f. Beauty and gave the company a "buy" rating in a research report on Thursday, May 29th. Canaccord Genuity Group dropped their price objective 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. Piper Sandler reiterated an "overweight" rating and set a $109.00 target price (up from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. Truist Financial upped their target price on 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, The Goldman Sachs Group lifted their price target 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. One investment 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 data from MarketBeat.com, e.l.f. Beauty presently has a consensus rating of "Moderate Buy" and an average target price of $123.81.

Insider Activity

In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 11,860 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total value of $1,370,541.60. Following the sale, the senior vice president directly owned 121,967 shares of the company's stock, valued at approximately $14,094,506.52. This trade represents a 8.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tarang Amin sold 24,533 shares of e.l.f. Beauty stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total value of $2,835,033.48. Following the completion of the sale, the chief executive officer owned 188,991 shares of the company's stock, valued at $21,839,799.96. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,219 shares of company stock valued at $15,098,642 in the last three months. Company insiders own 3.90% of the company's stock.

e.l.f. Beauty Trading Up 1.7%

Shares of ELF traded up $1.9440 on Friday, hitting $118.2540. 1,453,702 shares of the stock traded hands, compared to its average volume of 2,454,813. e.l.f. Beauty has a 1 year low of $49.40 and a 1 year high of $172.49. The stock's 50 day moving average is $118.54 and its two-hundred day moving average is $89.27. The firm has a market capitalization of $7.01 billion, a P/E ratio of 69.56, a P/E/G ratio of 2.87 and a beta of 1.57. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share 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 company had revenue of $353.74 million during the quarter, compared to the consensus estimate of $348.99 million. During the same period in the previous year, the firm posted $1.10 EPS. e.l.f. Beauty's revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts predict that e.l.f. Beauty will post 2.38 earnings per share 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.