Wesbanco Bank Inc. Trims Stock Position in e.l.f. Beauty $ELF

Key Points

• Wesbanco Bank Inc. has reduced its stake in e.l.f. Beauty by 23.4%, holding 13,063 shares valued at approximately $1.63 million after selling 3,997 shares during the second quarter.
• Multiple institutional investors, including Orion Capital Management and Golden State Wealth Management, have also recently adjusted their positions in e.l.f. Beauty, reflecting a trend of growing interest among financial entities.
• Analysts have mixed ratings on e.l.f. Beauty, with targets ranging from $112 to $160, indicating differing outlooks on the company's market potential despite a consensus rating of "Moderate Buy."

Wesbanco Bank Inc. reduced its stake in e.l.f. Beauty (NYSE:ELF - Free Report) by 23.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,063 shares of the company's stock after selling 3,997 shares during the quarter. Wesbanco Bank Inc.'s holdings in e.l.f. Beauty were worth $1,626,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new position in shares of e.l.f. Beauty in the fourth quarter valued at about $30,000. Golden State Wealth Management LLC bought a new position in e.l.f. Beauty during the first quarter valued at $33,000. Larson Financial Group LLC grew its position in e.l.f. Beauty by 56.5% in the first quarter. Larson Financial Group LLC now owns 676 shares of the company's stock worth $42,000 after acquiring an additional 244 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of e.l.f. Beauty by 577.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 759 shares of the company's stock worth $49,000 after purchasing an additional 647 shares during the period. Finally, Signaturefd LLC increased its position in e.l.f. Beauty by 27.9% during the first quarter. Signaturefd LLC now owns 858 shares of the company's stock valued at $54,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

Insider Activity at e.l.f. Beauty

In other news, insider Scott Milsten sold 15,000 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $140.28, for a total transaction of $2,104,200.00. Following the completion of the transaction, the insider directly owned 112,406 shares of the company's stock, valued at approximately $15,768,313.68. This represents a 11.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Catherine Hartnett sold 1,304 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $136.32, for a total transaction of $177,761.28. Following the completion of the transaction, the insider directly owned 52,599 shares in the company, valued at $7,170,295.68. This trade represents a 2.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 145,722 shares of company stock worth $19,794,790 over the last three months. Company insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ELF. Deutsche Bank Aktiengesellschaft downgraded e.l.f. Beauty from a "buy" rating to a "hold" rating and lifted their target price for the stock from $121.00 to $128.00 in a research report on Tuesday, September 2nd. B. Riley upped their price target on e.l.f. Beauty from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Jefferies Financial Group set a $115.00 price objective on shares of e.l.f. Beauty and gave the stock a "buy" rating in a research note on Thursday, May 29th. UBS Group dropped their target price on 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. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $155.00 price target (up from $140.00) on shares of e.l.f. Beauty in a research report on Monday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, e.l.f. Beauty currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.73.

e.l.f. Beauty Stock Down 2.0%

Shares of ELF opened at $135.34 on Monday. The company's 50-day moving average price is $119.77 and its 200 day moving average price is $95.19. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32. e.l.f. Beauty has a 12-month low of $49.40 and a 12-month high of $147.33. The firm has a market cap of $8.03 billion, a P/E ratio of 79.61, a price-to-earnings-growth ratio of 3.28 and a beta of 1.59.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, beating 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 company had revenue of $353.74 million during the quarter, compared to analysts' expectations of $348.99 million. During the same period last year, the business posted $1.10 EPS. e.l.f. Beauty's revenue for the quarter was up 9.0% on a year-over-year basis. On average, sell-side analysts forecast 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.

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