Concentric Capital Strategies LP Takes Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Concentric Capital Strategies LP bought a new position in e.l.f. Beauty, Inc. (NYSE:ELF) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 28,525 shares of the company’s stock, valued at approximately $3,110,000. Concentric Capital Strategies LP owned approximately 0.05% of e.l.f. Beauty at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in e.l.f. Beauty by 39.5% in the third quarter. Baillie Gifford & Co. now owns 5,305,692 shares of the company’s stock worth $578,480,000 after purchasing an additional 1,501,151 shares in the last quarter. William Blair Investment Management LLC lifted its position in e.l.f. Beauty by 12.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,512,180 shares of the company’s stock worth $318,647,000 after buying an additional 168,267 shares in the last quarter. Clearbridge Investments LLC grew its holdings in e.l.f. Beauty by 84.4% during the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock worth $265,432,000 after acquiring an additional 576,383 shares during the last quarter. FMR LLC increased its position in e.l.f. Beauty by 5.5% in the 3rd quarter. FMR LLC now owns 1,186,766 shares of the company’s stock valued at $129,393,000 after acquiring an additional 61,524 shares in the last quarter. Finally, Champlain Investment Partners LLC bought a new position in shares of e.l.f. Beauty in the third quarter worth about $121,558,000. 92.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Truist Financial dropped their target price on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. B. Riley decreased their price target on e.l.f. Beauty from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group dropped their price objective on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 target price (up previously from $162.00) on shares of e.l.f. Beauty in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.53.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the completion of the transaction, the chief executive officer now directly owns 106,016 shares in the company, valued at approximately $14,465,883.20. This trade represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by insiders.

e.l.f. Beauty Stock Up 0.9 %

NYSE:ELF opened at $130.71 on Tuesday. e.l.f. Beauty, Inc. has a 1 year low of $98.50 and a 1 year high of $221.83. The stock has a 50-day moving average price of $114.03 and a two-hundred day moving average price of $151.13. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 70.65, a PEG ratio of 2.84 and a beta of 1.44. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The business had revenue of $301.10 million during the quarter, compared to analysts’ expectations of $289.43 million. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. e.l.f. Beauty’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. As a group, equities analysts expect that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

e.l.f. Beauty Company 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.