1832 Asset Management L.P. Invests $61.30 Million in e.l.f. Beauty, Inc. (NYSE:ELF)

1832 Asset Management L.P. purchased a new position in e.l.f. Beauty, Inc. (NYSE:ELF) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 312,700 shares of the company’s stock, valued at approximately $61,299,000. 1832 Asset Management L.P. owned about 0.56% of e.l.f. Beauty as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ELF. Vanguard Group Inc. boosted its stake in shares of e.l.f. Beauty by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,050,649 shares of the company’s stock valued at $873,351,000 after buying an additional 79,701 shares during the period. Wellington Management Group LLP lifted its stake in e.l.f. Beauty by 5.2% during the fourth quarter. Wellington Management Group LLP now owns 2,540,832 shares of the company’s stock worth $366,744,000 after purchasing an additional 126,231 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in e.l.f. Beauty by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 952,863 shares of the company’s stock worth $137,538,000 after purchasing an additional 7,999 shares during the last quarter. Clearbridge Investments LLC bought a new stake in e.l.f. Beauty during the first quarter worth $133,940,000. Finally, Norges Bank bought a new stake in e.l.f. Beauty during the fourth quarter worth $95,611,000. 92.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at e.l.f. Beauty

In other e.l.f. Beauty news, CEO Tarang Amin sold 42,953 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $184.96, for a total value of $7,944,586.88. Following the completion of the transaction, the chief executive officer now directly owns 258,667 shares of the company’s stock, valued at approximately $47,843,048.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other e.l.f. Beauty news, Director Richard G. Wolford sold 11,072 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $181.13, for a total value of $2,005,471.36. Following the completion of the transaction, the director now directly owns 12,741 shares of the company’s stock, valued at approximately $2,307,777.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Tarang Amin sold 42,953 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $184.96, for a total transaction of $7,944,586.88. Following the completion of the transaction, the chief executive officer now directly owns 258,667 shares of the company’s stock, valued at $47,843,048.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,361 shares of company stock worth $22,019,033. Insiders own 5.20% of the company’s stock.

e.l.f. Beauty Stock Up 7.3 %

Shares of ELF stock traded up $12.47 on Friday, reaching $182.82. 1,520,551 shares of the company were exchanged, compared to its average volume of 1,731,983. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 82.35, a PEG ratio of 3.74 and a beta of 1.46. The company has a 50-day moving average of $191.60 and a 200-day moving average of $181.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.60 and a quick ratio of 0.95. e.l.f. Beauty, Inc. has a one year low of $88.47 and a one year high of $221.83.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ELF shares. 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. Robert W. Baird upgraded e.l.f. Beauty from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $210.00 to $230.00 in a research note on Thursday, July 18th. Canaccord Genuity Group upped their target price on e.l.f. Beauty from $214.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Stifel Nicolaus upped their price target on shares of e.l.f. Beauty from $151.00 to $161.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Finally, Piper Sandler upped their price target on shares of e.l.f. Beauty from $210.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, e.l.f. Beauty has an average rating of “Moderate Buy” and a consensus price target of $210.00.

e.l.f. Beauty Profile

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.