Short Interest in e.l.f. Beauty, Inc. (NYSE:ELF) Drops By 8.0%

e.l.f. Beauty, Inc. (NYSE:ELF) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 3,450,000 shares, a drop of 8.0% from the May 31st total of 3,750,000 shares. Based on an average trading volume of 1,580,000 shares, the short-interest ratio is currently 2.2 days.

Insider Activity

In other e.l.f. Beauty news, CEO Tarang Amin sold 6,832 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $162.63, for a total value of $1,111,088.16. Following the sale, the chief executive officer now owns 228,175 shares in the company, valued at $37,108,100.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Tarang Amin sold 6,832 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $162.63, for a total value of $1,111,088.16. Following the transaction, the chief executive officer now directly owns 228,175 shares of the company’s stock, valued at $37,108,100.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard G. Wolford sold 11,072 shares of e.l.f. Beauty stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $181.13, for a total transaction of $2,005,471.36. Following the sale, the director now directly owns 12,741 shares of the company’s stock, valued at approximately $2,307,777.33. The disclosure for this sale can be found here. Insiders sold a total of 256,167 shares of company stock valued at $44,029,811 in the last quarter. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On e.l.f. Beauty

Several hedge funds and other institutional investors have recently made changes to their positions in ELF. Armstrong Advisory Group Inc. grew its stake in shares of e.l.f. Beauty by 390.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 201 shares of the company’s stock worth $29,000 after buying an additional 160 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in e.l.f. Beauty during the 1st quarter worth $31,000. Oakworth Capital Inc. acquired a new position in e.l.f. Beauty in the 1st quarter worth about $33,000. GPS Wealth Strategies Group LLC raised its position in 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 valued at $35,000 after purchasing an additional 97 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in shares of e.l.f. Beauty during the first quarter valued at about $40,000. 92.44% of the stock is owned by institutional investors.

e.l.f. Beauty Price Performance

Shares of ELF stock traded down $2.24 during trading hours on Wednesday, reaching $201.99. The company’s stock had a trading volume of 580,303 shares, compared to its average volume of 1,591,870. 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 has a fifty-two week low of $88.47 and a fifty-two week high of $221.83. The company has a market capitalization of $11.30 billion, a price-to-earnings ratio of 90.99, a PEG ratio of 5.34 and a beta of 1.46. The firm’s 50 day simple moving average is $183.54 and its 200-day simple moving average is $176.03.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data on Wednesday, May 22nd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $321.14 million for the quarter, compared to analyst estimates of $292.47 million. Sell-side analysts forecast that e.l.f. Beauty will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ELF has been the topic of a number of research reports. Truist Financial upped their price objective on e.l.f. Beauty from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price target on shares of e.l.f. Beauty in a research report on Monday, June 24th. TD Cowen boosted their price objective on shares of e.l.f. Beauty from $190.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. 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, Canaccord Genuity Group lifted their price target on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $198.93.

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.