Wealth Enhancement Advisory Services LLC Has $874,000 Stake in e.l.f. Beauty $ELF

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in e.l.f. Beauty by 63.6% in the second quarter, now owning shares valued at $874,000.
• Multiple hedge funds have recently boosted their positions in e.l.f. Beauty, leading to institutional investors holding over 92.44% of the company's stock.
• Despite recent insider selling, analysts generally maintain a positive outlook on e.l.f. Beauty, with several firms issuing a buy rating and setting price targets between $130.00 and $160.00.

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 63.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,676 shares of the company's stock after purchasing an additional 2,596 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in e.l.f. Beauty were worth $874,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ELF. Champlain Investment Partners LLC lifted its position in shares of e.l.f. Beauty by 19.7% in the 1st quarter. Champlain Investment Partners LLC now owns 2,665,026 shares of the company's stock worth $167,337,000 after acquiring an additional 438,575 shares during the period. Prime Capital Management Co Ltd increased its stake in shares of e.l.f. Beauty by 167.8% in the 1st quarter. Prime Capital Management Co Ltd now owns 604,535 shares of the company's stock valued at $37,959,000 after buying an additional 378,826 shares during the period. Mackenzie Financial Corp boosted its position in shares of e.l.f. Beauty by 68.0% in the 1st quarter. Mackenzie Financial Corp now owns 862,671 shares of the company's stock worth $54,167,000 after purchasing an additional 349,024 shares during the last quarter. Swedbank AB grew its stake in e.l.f. Beauty by 42.6% in the first quarter. Swedbank AB now owns 1,157,760 shares of the company's stock valued at $72,696,000 after acquiring an additional 345,760 shares during the period. Finally, Generate Investment Management Ltd acquired a new position in e.l.f. Beauty in the first quarter valued at about $21,650,000. Institutional investors own 92.44% of the company's stock.

Insider Buying and Selling

In other news, insider Kory Marchisotto sold 10,812 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $150.00, for a total value of $1,621,800.00. Following the completion of the sale, the insider directly owned 133,976 shares in the company, valued at $20,096,400. This trade represents a 7.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Scott Milsten sold 15,000 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $150.23, for a total value of $2,253,450.00. Following the completion of the sale, the insider owned 97,406 shares of the company's stock, valued at approximately $14,633,303.38. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,745 shares of company stock worth $25,613,238 over the last 90 days. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ELF shares. JPMorgan Chase & Co. cut their price target on e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. B. Riley upped their target price on e.l.f. Beauty from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Raymond James Financial restated a "strong-buy" rating and set a $155.00 target price (up from $140.00) on shares of e.l.f. Beauty in a research note on Monday, September 8th. Truist Financial increased their price target on e.l.f. Beauty from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Piper Sandler began coverage on e.l.f. Beauty in a research report on Thursday, September 4th. They set an "overweight" rating and a $150.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $134.60.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock opened at $135.89 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 business has a 50-day moving average price of $126.18 and a two-hundred day moving average price of $101.55. The company has a market cap of $8.06 billion, a P/E ratio of 79.94, a PEG ratio of 3.13 and a beta of 1.57. e.l.f. Beauty has a 1-year low of $49.40 and a 1-year high of $150.99.

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

e.l.f. Beauty 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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