MGB Wealth Management LLC Acquires 435 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

MGB Wealth Management LLC boosted its holdings in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 28.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,947 shares of the company’s stock after buying an additional 435 shares during the quarter. MGB Wealth Management LLC’s holdings in e.l.f. Beauty were worth $382,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ELF. Armstrong Advisory Group Inc. boosted its position in shares of e.l.f. Beauty by 390.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 201 shares of the company’s stock worth $29,000 after purchasing an additional 160 shares during the period. Harbor Investment Advisory LLC bought a new position in shares of e.l.f. Beauty in the first quarter worth approximately $31,000. Oakworth Capital Inc. bought a new position in shares of e.l.f. Beauty in the first quarter worth approximately $33,000. GPS Wealth Strategies Group LLC boosted its position in shares of e.l.f. Beauty by 66.4% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 243 shares of the company’s stock worth $35,000 after purchasing an additional 97 shares during the period. Finally, Rise Advisors LLC bought a new position in shares of e.l.f. Beauty in the first quarter worth approximately $40,000. 92.44% of the stock is currently owned by institutional investors.

e.l.f. Beauty Price Performance

e.l.f. Beauty stock traded up $3.98 during mid-day trading on Friday, reaching $212.90. 831,782 shares of the company’s stock traded hands, compared to its average volume of 1,564,287. The company has a market cap of $11.91 billion, a price-to-earnings ratio of 94.13, a PEG ratio of 5.06 and a beta of 1.46. The stock has a 50 day moving average of $187.78 and a two-hundred day moving average of $178.19. The company has a quick ratio of 0.95, a current ratio of 1.60 and a debt-to-equity ratio of 0.25. e.l.f. Beauty, Inc. has a 12-month low of $88.47 and a 12-month high of $221.83.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results on Wednesday, May 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. e.l.f. Beauty had a net margin of 12.47% and a return on equity of 26.64%. The company had revenue of $321.14 million for the quarter, compared to the consensus estimate of $292.47 million. Equities analysts forecast that e.l.f. Beauty, Inc. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial upped their price target on shares of e.l.f. Beauty from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. dropped their target price on shares of e.l.f. Beauty from $197.00 to $182.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Stifel Nicolaus dropped their target price on shares of e.l.f. Beauty from $167.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, May 20th. Raymond James restated a “strong-buy” rating and set a $235.00 target price (up previously from $215.00) on shares of e.l.f. Beauty in a research report on Friday, June 14th. Finally, Piper Sandler upped their target price on shares of e.l.f. Beauty from $210.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, e.l.f. Beauty presently has an average rating of “Moderate Buy” and an average target price of $203.07.

Insider Activity

In other news, SVP Joshua Allen Franks sold 727 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $165.16, for a total value of $120,071.32. Following the sale, the senior vice president now owns 83,736 shares of the company’s stock, valued at $13,829,837.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Joshua Allen Franks sold 727 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $165.16, for a total value of $120,071.32. Following the sale, the senior vice president now owns 83,736 shares of the company’s stock, valued at $13,829,837.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mandy J. Fields sold 1,250 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $174.90, for a total transaction of $218,625.00. Following the completion of the transaction, the insider now owns 77,146 shares in the company, valued at $13,492,835.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 264,721 shares of company stock valued at $46,009,001. 5.20% of the stock is currently owned by company insiders.

About e.l.f. Beauty

e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors.