Townsquare Capital LLC Has $4.86 Million Stock Holdings in e.l.f. Beauty (NYSE:ELF)

Key Points

• Townsquare Capital LLC increased its stake in e.l.f. Beauty by 50.6%, owning 77,381 shares worth approximately $4.86 million after acquiring an additional 25,983 shares in the first quarter.
• Analysts have boosted their ratings for e.l.f. Beauty, with Deutsche Bank upgrading it to a "buy" with a price target of $121, while Robert W. Baird raised their target from $110 to $145.
• e.l.f. Beauty reported $0.89 earnings per share for the quarter, exceeding estimates, and achieved a 9% year-over-year revenue growth, totalling $353.74 million.

Townsquare Capital LLC increased its holdings in e.l.f. Beauty (NYSE:ELF - Free Report) by 50.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,381 shares of the company's stock after acquiring an additional 25,983 shares during the quarter. Townsquare Capital LLC owned approximately 0.14% of e.l.f. Beauty worth $4,859,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Treasurer of the State of North Carolina raised its position in shares of e.l.f. Beauty by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 23,630 shares of the company's stock worth $2,967,000 after purchasing an additional 140 shares during the period. ProShare Advisors LLC grew its holdings in e.l.f. Beauty by 7.1% in the 4th quarter. ProShare Advisors LLC now owns 2,635 shares of the company's stock worth $331,000 after buying an additional 174 shares in the last quarter. Signaturefd LLC grew 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 worth $54,000 after buying an additional 187 shares in the last quarter. State of Michigan Retirement System grew its holdings in e.l.f. Beauty by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 13,500 shares of the company's stock worth $848,000 after buying an additional 200 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in e.l.f. Beauty by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock worth $992,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Insider Activity

In related news, insider Scott Milsten sold 11,860 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $115.56, for a total value of $1,370,541.60. Following the completion of the transaction, the insider owned 118,836 shares in the company, valued at $13,732,688.16. The trade was a 9.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kory Marchisotto sold 11,860 shares of e.l.f. Beauty stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $115.56, for a total transaction of $1,370,541.60. Following the sale, the insider directly owned 159,799 shares of the company's stock, valued at $18,466,372.44. This represents a 6.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,589 shares of company stock valued at $14,547,949. 3.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ELF shares. B. Riley reissued a "buy" rating and issued a $150.00 price objective (up from $110.00) on shares of e.l.f. Beauty in a report on Friday, June 13th. Piper Sandler reissued an "overweight" rating and set a $109.00 price objective (up from $81.00) on shares of e.l.f. Beauty in a research note on Thursday, May 29th. The Goldman Sachs Group raised their price objective 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. Deutsche Bank Aktiengesellschaft raised e.l.f. Beauty from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a research note on Friday, August 8th. Finally, Robert W. Baird increased their target price on e.l.f. Beauty from $110.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $123.81.

e.l.f. Beauty Stock Performance

Shares of NYSE:ELF traded up $3.93 during midday trading on Wednesday, hitting $120.68. The company's stock had a trading volume of 325,370 shares, compared to its average volume of 2,711,655. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 71.18, a PEG ratio of 2.72 and a beta of 1.57. The stock's 50 day simple moving average is $118.65 and its 200 day simple moving average is $88.14. e.l.f. Beauty has a fifty-two week low of $49.40 and a fifty-two week high of $172.49. 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 (NYSE:ELF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $348.99 million. During the same period last year, the business posted $1.10 earnings per share. The firm's revenue was up 9.0% compared to the same quarter last year. As a group, research analysts anticipate that e.l.f. Beauty will post 2.38 earnings per share for the current year.

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.