Sowell Financial Services LLC Makes New Investment in e.l.f. Beauty (NYSE:ELF)

Sowell Financial Services LLC bought a new position in shares of e.l.f. Beauty (NYSE:ELFFree Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,740 shares of the company’s stock, valued at approximately $486,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of e.l.f. Beauty by 149.8% during the 4th quarter. Principal Financial Group Inc. now owns 328,557 shares of the company’s stock valued at $41,250,000 after acquiring an additional 197,028 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of e.l.f. Beauty by 441.0% during the 4th quarter. Global Retirement Partners LLC now owns 8,283 shares of the company’s stock valued at $1,040,000 after acquiring an additional 6,752 shares during the last quarter. Mitchell Capital Management Co. acquired a new position in shares of e.l.f. Beauty during the 4th quarter valued at about $2,655,000. Harbor Capital Advisors Inc. boosted its position in shares of e.l.f. Beauty by 42.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 103,235 shares of the company’s stock valued at $6,482,000 after acquiring an additional 30,530 shares during the last quarter. Finally, Granahan Investment Management LLC acquired a new position in shares of e.l.f. Beauty during the 4th quarter valued at about $9,671,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Stock Down 2.7%

Shares of NYSE:ELF opened at $122.23 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.05 and a quick ratio of 2.00. The firm has a market capitalization of $6.89 billion, a PE ratio of 63.33, a price-to-earnings-growth ratio of 2.71 and a beta of 1.52. The firm’s 50-day moving average is $84.59 and its two-hundred day moving average is $91.45. e.l.f. Beauty has a 1 year low of $49.40 and a 1 year high of $219.77.

e.l.f. Beauty (NYSE:ELFGet Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $332.65 million for the quarter, compared to analyst estimates of $327.45 million. e.l.f. Beauty had a net margin of 8.53% and a return on equity of 17.98%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. Analysts predict that e.l.f. Beauty will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of e.l.f. Beauty from $142.00 to $124.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on shares of e.l.f. Beauty from $70.00 to $123.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. B. Riley restated 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. Canaccord Genuity Group set a $114.00 price objective on shares of e.l.f. Beauty in a report on Thursday, May 29th. Finally, Bank of America boosted their price objective on shares of e.l.f. Beauty from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.38.

Read Our Latest Report on e.l.f. Beauty

Insider Buying and Selling

In related news, CEO Tarang Amin sold 97,915 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $53.36, for a total value of $5,224,744.40. Following the completion of the transaction, the chief executive officer now directly owns 181,289 shares of the company’s stock, valued at $9,673,581.04. This represents a 35.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Catherine Hartnett sold 9,506 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $116.52, for a total value of $1,107,639.12. Following the completion of the transaction, the insider now directly owns 53,903 shares of the company’s stock, valued at $6,280,777.56. This trade represents a 14.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 327,207 shares of company stock worth $25,252,926. Company insiders own 3.50% of the company’s stock.

e.l.f. Beauty Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for e.l.f. Beauty (NYSE:ELF)

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