WT Asset Management Ltd Makes New Investment in e.l.f. Beauty $ELF

Key Points

• WT Asset Management Ltd has invested approximately $4.54 million in e.l.f. Beauty by purchasing 36,500 shares, making it the firm's 23rd largest holding in their portfolio.
• e.l.f. Beauty's stock price is currently at $134.88, with a market capitalization of $8 billion and a PE ratio of 79.34.
• Insider transactions indicate significant share sales, with two insiders selling over 55,000 shares each, totaling nearly $15 million in stock sold recently.

WT Asset Management Ltd purchased a new position in shares of e.l.f. Beauty (NYSE:ELF - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 36,500 shares of the company's stock, valued at approximately $4,542,000. e.l.f. Beauty comprises 0.3% of WT Asset Management Ltd's investment portfolio, making the stock its 23rd biggest holding. WT Asset Management Ltd owned about 0.06% of e.l.f. Beauty as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in e.l.f. Beauty during the 1st quarter worth approximately $33,000. Parallel Advisors LLC increased its stake in shares of e.l.f. Beauty by 167.9% in the 2nd quarter. Parallel Advisors LLC now owns 627 shares of the company's stock valued at $78,000 after acquiring an additional 393 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of e.l.f. Beauty by 56.5% in the 1st quarter. Larson Financial Group LLC now owns 676 shares of the company's stock valued at $42,000 after acquiring an additional 244 shares in the last quarter. Smartleaf Asset Management LLC increased its stake 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 valued at $49,000 after acquiring an additional 647 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in shares of e.l.f. Beauty in the 2nd quarter valued at $106,000. Institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Stock Performance

Shares of ELF stock opened at $134.88 on Friday. The firm has a market capitalization of $8.00 billion, a PE ratio of 79.34, a price-to-earnings-growth ratio of 3.15 and a beta of 1.57. The firm has a fifty day simple moving average of $126.47 and a two-hundred day simple moving average of $102.04. 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 $150.99.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. The firm had revenue of $353.74 million for the quarter, compared to the consensus estimate of $348.99 million. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.10 EPS. Analysts forecast that e.l.f. Beauty will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of e.l.f. Beauty from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $114.00 to $134.00 in a research note on Monday, August 11th. Robert W. Baird lifted their price objective on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. Raymond James Financial reiterated a "strong-buy" rating and issued a $155.00 price objective (up previously from $140.00) on shares of e.l.f. Beauty in a research note on Monday, September 8th. Canaccord Genuity Group set a $165.00 price objective on shares of e.l.f. Beauty in a research note on Tuesday, September 9th. Finally, Piper Sandler initiated coverage on shares of e.l.f. Beauty in a research note on Thursday, September 4th. They set an "overweight" rating and a $150.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.60.

Insider Activity

In other e.l.f. Beauty news, insider Mandy J. Fields sold 55,692 shares of e.l.f. Beauty stock in a transaction on Monday, September 8th. The shares were sold at an average price of $136.28, for a total transaction of $7,589,705.76. Following the transaction, the insider directly owned 64,154 shares of the company's stock, valued at $8,742,907.12. The trade was a 46.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Milsten sold 55,581 shares of e.l.f. Beauty stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $134.56, for a total transaction of $7,478,979.36. Following the transaction, the insider directly owned 112,406 shares in the company, valued at $15,125,351.36. This represents a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 301,060 shares of company stock worth $40,994,733. Company insiders own 3.90% of the company's stock.

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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