Readystate Asset Management LP Makes New Investment in e.l.f. Beauty, Inc. (NYSE:ELF)

Readystate Asset Management LP acquired a new position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) during the 4th quarter, Holdings Channel reports. The firm acquired 10,513 shares of the company’s stock, valued at approximately $1,517,000.

Several other large investors have also recently added to or reduced their stakes in ELF. Advisor Group Holdings Inc. increased its position in shares of e.l.f. Beauty by 7.6% in the first quarter. Advisor Group Holdings Inc. now owns 6,765 shares of the company’s stock worth $174,000 after purchasing an additional 476 shares during the period. Bank of New York Mellon Corp increased its position in shares of e.l.f. Beauty by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 428,775 shares of the company’s stock worth $11,076,000 after purchasing an additional 4,476 shares during the period. Citigroup Inc. increased its position in shares of e.l.f. Beauty by 12.4% in the first quarter. Citigroup Inc. now owns 41,711 shares of the company’s stock worth $1,077,000 after purchasing an additional 4,617 shares during the period. AlphaCrest Capital Management LLC bought a new position in shares of e.l.f. Beauty in the first quarter worth $342,000. Finally, MetLife Investment Management LLC increased its position in shares of e.l.f. Beauty by 53.3% in the first quarter. MetLife Investment Management LLC now owns 26,424 shares of the company’s stock worth $683,000 after purchasing an additional 9,189 shares during the period. Institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Truist Financial raised their price target on e.l.f. Beauty from $150.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Stifel Nicolaus lifted their target price on e.l.f. Beauty from $141.00 to $167.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Piper Sandler lifted their target price on e.l.f. Beauty from $225.00 to $228.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Raymond James lifted their target price on e.l.f. Beauty from $140.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Monday, January 22nd. Finally, Robert W. Baird began coverage on e.l.f. Beauty in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $185.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $184.33.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,519 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $198.89, for a total value of $4,677,693.91. Following the sale, the chief executive officer now directly owns 10,889 shares in the company, valued at $2,165,713.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Joshua Allen Franks sold 727 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $165.16, for a total value of $120,071.32. Following the sale, the senior vice president now directly owns 83,736 shares in the company, valued at $13,829,837.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tarang Amin sold 23,519 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total value of $4,677,693.91. Following the completion of the sale, the chief executive officer now owns 10,889 shares in the company, valued at $2,165,713.21. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

e.l.f. Beauty Trading Up 0.4 %

Shares of NYSE:ELF traded up $0.58 during midday trading on Wednesday, hitting $166.26. 1,728,187 shares of the stock were exchanged, compared to its average volume of 1,540,140. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 73.57, a P/E/G ratio of 1.52 and a beta of 1.57. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 1.50. The business’s 50-day moving average price is $186.70 and its 200 day moving average price is $148.43. e.l.f. Beauty, Inc. has a 12 month low of $83.80 and a 12 month high of $221.83.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. The company had revenue of $270.94 million for the quarter, compared to analysts’ expectations of $239.66 million. e.l.f. Beauty had a return on equity of 28.98% and a net margin of 14.53%. Analysts predict that e.l.f. Beauty, Inc. will post 2.5 earnings per share for the current year.

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.