American International Group Inc. Has $19.53 Million Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

American International Group Inc. grew its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 238.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,631 shares of the company’s stock after purchasing an additional 70,196 shares during the quarter. American International Group Inc. owned about 0.18% of e.l.f. Beauty worth $19,531,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in shares of e.l.f. Beauty by 6.9% in the first quarter. Bessemer Group Inc. now owns 136,795 shares of the company’s stock valued at $26,815,000 after purchasing an additional 8,806 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in e.l.f. Beauty during the first quarter worth approximately $133,940,000. Seven Eight Capital LP acquired a new stake in e.l.f. Beauty during the first quarter worth approximately $1,443,000. Ameritas Investment Partners Inc. grew its position in e.l.f. Beauty by 222.8% during the first quarter. Ameritas Investment Partners Inc. now owns 17,645 shares of the company’s stock worth $3,459,000 after buying an additional 12,179 shares in the last quarter. Finally, Cynosure Group LLC acquired a new stake in e.l.f. Beauty during the first quarter worth approximately $596,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

ELF has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on e.l.f. Beauty from $151.00 to $161.00 and gave the stock a “hold” rating in a research report on Monday. Piper Sandler increased their price target on e.l.f. Beauty from $210.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Truist Financial increased their price target on 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. DA Davidson restated a “buy” rating and set a $220.00 target price on shares of e.l.f. Beauty in a research note on Monday, June 3rd. Finally, TD Cowen upped their target price on e.l.f. Beauty from $190.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and an average price target of $210.00.

e.l.f. Beauty Price Performance

Shares of ELF traded down $2.96 during trading hours on Wednesday, reaching $174.47. The stock had a trading volume of 1,143,443 shares, compared to its average volume of 1,588,813. e.l.f. Beauty, Inc. has a 12 month low of $88.47 and a 12 month high of $221.83. The stock has a market capitalization of $9.84 billion, a PE ratio of 78.59, a PEG ratio of 3.72 and a beta of 1.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.95 and a current ratio of 1.60. The company’s 50-day moving average is $190.95 and its two-hundred day moving average is $180.99.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. e.l.f. Beauty had a return on equity of 26.64% and a net margin of 12.47%. The company had revenue of $321.14 million during the quarter, compared to analysts’ expectations of $292.47 million. Research analysts expect that e.l.f. Beauty, Inc. will post 2.83 EPS for the current year.

Insider Activity

In related news, CEO Tarang Amin sold 23,519 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.70, for a total transaction of $3,850,060.30. Following the completion of the transaction, the chief executive officer now directly owns 10,890 shares of the company’s stock, valued at approximately $1,782,693. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Joshua Allen Franks sold 3,370 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $201.28, for a total transaction of $678,313.60. Following the completion of the transaction, the senior vice president now directly owns 71,986 shares of the company’s stock, valued at approximately $14,489,342.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tarang Amin sold 23,519 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.70, for a total value of $3,850,060.30. Following the transaction, the chief executive officer now directly owns 10,890 shares of the company’s stock, valued at $1,782,693. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,361 shares of company stock worth $22,019,033. Insiders own 5.20% of the company’s stock.

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.