Wellington Management Group LLP Sells 1,325,485 Shares of e.l.f. Beauty $ELF

Key Points

• Wellington Management Group LLP has significantly decreased its stake in e.l.f. Beauty by 59.3%, now owning about 1.61% of the company, valued at approximately $57.17 million.
• Several other institutional investors have also made adjustments to their positions in e.l.f. Beauty, with notable increases from Larson Financial Group LLC and Brooklyn Investment Group.
• e.l.f. Beauty recently reported earnings per share of $0.89 for the quarter, surpassing analysts' expectations and indicating a 9% increase in revenue compared to the previous year.

Wellington Management Group LLP lowered its stake in shares of e.l.f. Beauty (NYSE:ELF - Free Report) by 59.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 910,432 shares of the company's stock after selling 1,325,485 shares during the quarter. Wellington Management Group LLP owned about 1.61% of e.l.f. Beauty worth $57,166,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Congress Asset Management Co. boosted its position in shares of e.l.f. Beauty by 53.7% in the first quarter. Congress Asset Management Co. now owns 938,970 shares of the company's stock valued at $58,958,000 after acquiring an additional 327,980 shares during the period. Mackenzie Financial Corp grew its position in e.l.f. Beauty by 68.0% during the first quarter. Mackenzie Financial Corp now owns 862,671 shares of the company's stock worth $54,167,000 after buying an additional 349,024 shares in the last quarter. Zevenbergen Capital Investments LLC grew its position in e.l.f. Beauty by 9.9% during the first quarter. Zevenbergen Capital Investments LLC now owns 682,009 shares of the company's stock worth $42,823,000 after buying an additional 61,282 shares in the last quarter. Aspex Management HK Ltd bought a new position in e.l.f. Beauty during the fourth quarter valued at about $73,576,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in e.l.f. Beauty by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 522,732 shares of the company's stock valued at $32,822,000 after acquiring an additional 8,965 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

ELF has been the topic of several analyst reports. Raymond James Financial upped their target price on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. 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 research report on Friday, June 20th. UBS Group reduced their target price on shares of e.l.f. Beauty from $120.00 to $112.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. B. Riley reissued a "buy" rating and issued a $150.00 price target (up previously from $110.00) on shares of e.l.f. Beauty in a report on Friday, June 13th. Finally, JPMorgan Chase & Co. decreased their price objective on e.l.f. Beauty from $132.00 to $130.00 and set an "overweight" rating on the stock in a research report 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 given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $123.81.

e.l.f. Beauty Stock Performance

NYSE:ELF traded down $4.05 during mid-day trading on Monday, hitting $114.10. The stock had a trading volume of 1,570,681 shares, compared to its average volume of 2,459,780. e.l.f. Beauty has a twelve month low of $49.40 and a twelve month high of $162.34. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 67.12, a PEG ratio of 2.92 and a beta of 1.57. The company's 50 day simple moving average is $118.30 and its 200 day simple moving average is $89.59. 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 posted its earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $353.74 million for the quarter, compared to analyst estimates of $348.99 million. During the same period in the previous year, the firm earned $1.10 EPS. The firm's revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Insider Transactions at e.l.f. Beauty

In related news, insider Kory Marchisotto sold 11,860 shares of the business's stock in a transaction on 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 completion of the sale, the insider directly owned 159,799 shares in the company, valued at $18,466,372.44. The trade was a 6.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott Milsten 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 value of $1,370,541.60. Following the sale, the insider directly owned 118,836 shares of the company's stock, valued at $13,732,688.16. This represents a 9.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,219 shares of company stock worth $15,098,642. 3.90% of the stock is currently owned by insiders.

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.