Prime Capital Management Co Ltd Acquires New Position in e.l.f. Beauty $ELF

Key Points

• Prime Capital Management acquired 604,535 shares of e.l.f. Beauty, valued at approximately $44.7 million, giving it a 1.03% stake and making ELF its sixth-largest holding.
• Institutional ownership remains substantial, with hedge funds and other institutional investors holding 92.44% of the stock. BlackRock also initiated a major position valued at roughly $428.3 million.
• e.l.f. Beauty reported quarterly revenue of $479.4 million, up 35.5% year over year, and earnings of $1.75 per share versus analyst expectations of $0.71. Analysts maintain a “Moderate Buy” consensus, while insiders have sold approximately $9.4 million of stock over the past 90 days.

Prime Capital Management Co Ltd acquired a new stake in e.l.f. Beauty (NYSE:ELF - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 604,535 shares of the company's stock, valued at approximately $44,736,000. e.l.f. Beauty accounts for 3.6% of Prime Capital Management Co Ltd's holdings, making the stock its 6th biggest holding. Prime Capital Management Co Ltd owned 1.03% of e.l.f. Beauty at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new stake in e.l.f. Beauty during the second quarter valued at $428,262,000. BNP Paribas Financial Markets increased its position in e.l.f. Beauty by 3,131.7% in the 4th quarter. BNP Paribas Financial Markets now owns 924,902 shares of the company's stock worth $70,330,000 after purchasing an additional 896,282 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in e.l.f. Beauty by 47.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,319 shares of the company's stock worth $167,086,000 after purchasing an additional 711,540 shares during the last quarter. Swedbank AB raised its stake in shares of e.l.f. Beauty by 97.0% during the 4th quarter. Swedbank AB now owns 1,364,801 shares of the company's stock worth $103,779,000 after purchasing an additional 672,071 shares in the last quarter. Finally, Armistice Capital LLC lifted its holdings in shares of e.l.f. Beauty by 394.9% during the 4th quarter. Armistice Capital LLC now owns 657,983 shares of the company's stock valued at $50,033,000 after buying an additional 525,018 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $92.46 on Wednesday. The company has a quick ratio of 1.82, a current ratio of 2.55 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $5.46 billion, a PE ratio of 92.46, a price-to-earnings-growth ratio of 2.88 and a beta of 1.58. e.l.f. Beauty has a 12-month low of $48.82 and a 12-month high of $150.99. The firm has a 50-day moving average price of $77.10 and a 200 day moving average price of $71.78.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $0.71 by $1.04. e.l.f. Beauty had a net margin of 3.38% and a return on equity of 14.07%. The firm had revenue of $479.37 million for the quarter, compared to analysts' expectations of $431.20 million. During the same period in the prior year, the firm earned $0.89 earnings per share. The company's quarterly revenue was up 35.5% compared to the same quarter last year. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. Research analysts anticipate that e.l.f. Beauty will post 2.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $64.00 price objective on shares of e.l.f. Beauty in a report on Tuesday, June 16th. Sanford C. Bernstein boosted their target price on shares of e.l.f. Beauty from $113.00 to $121.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Canaccord Genuity Group raised their price target on shares of e.l.f. Beauty from $90.00 to $97.00 and gave the company a "buy" rating in a report on Friday, July 17th. Piper Sandler lifted their price objective on shares of e.l.f. Beauty from $50.00 to $65.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Finally, Morgan Stanley lowered their target price on shares of e.l.f. Beauty from $67.00 to $59.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, e.l.f. Beauty currently has an average rating of "Moderate Buy" and an average price target of $90.81.

Insider Activity at e.l.f. Beauty

In related news, insider Jennifer Catherine Hartnett sold 25,357 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $80.00, for a total value of $2,028,560.00. Following the sale, the insider directly owned 28,699 shares of the company's stock, valued at approximately $2,295,920. The trade was a 46.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kory Marchisotto sold 12,173 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $88.02, for a total transaction of $1,071,467.46. Following the transaction, the insider directly owned 169,695 shares of the company's stock, valued at $14,936,553.90. This represents a 6.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 134,028 shares of company stock worth $9,422,961 over the last 90 days. Insiders own 3.50% of the company's stock.

e.l.f. Beauty Company Profile

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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