Eagle Asset Management Inc. Grows Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Eagle Asset Management Inc. increased its position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 162.8% during the 3rd quarter, Holdings Channel reports. The firm owned 202,204 shares of the company’s stock after purchasing an additional 125,255 shares during the quarter. Eagle Asset Management Inc.’s holdings in e.l.f. Beauty were worth $24,305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. purchased a new position in e.l.f. Beauty in the second quarter valued at about $801,693,000. Swedbank AB purchased a new position in e.l.f. Beauty in the third quarter valued at about $76,321,000. Clearbridge Investments LLC boosted its stake in e.l.f. Beauty by 84.4% in the second quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock valued at $265,432,000 after acquiring an additional 576,383 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in e.l.f. Beauty by 223.2% in the third quarter. Thrivent Financial for Lutherans now owns 555,287 shares of the company’s stock valued at $60,543,000 after acquiring an additional 383,478 shares during the last quarter. Finally, Primecap Management Co. CA purchased a new position in e.l.f. Beauty in the third quarter valued at about $34,917,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

e.l.f. Beauty Price Performance

Shares of e.l.f. Beauty stock opened at $126.42 on Friday. e.l.f. Beauty, Inc. has a 52-week low of $98.50 and a 52-week high of $221.83. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 68.34, a price-to-earnings-growth ratio of 2.67 and a beta of 1.44. The company has a fifty day moving average of $112.24 and a 200-day moving average of $152.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly 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 for the quarter, compared to analyst estimates of $289.43 million. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The company’s revenue was up 39.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. Equities research analysts expect that e.l.f. Beauty, Inc. will post 2.8 EPS for the current year.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the sale, the chief executive officer now owns 106,016 shares in the company, valued at $14,465,883.20. The trade was a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Truist Financial dropped their price target on shares of e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. B. Riley dropped their price target on shares of e.l.f. Beauty from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Piper Sandler restated an “overweight” rating and set a $165.00 price target (up from $162.00) on shares of e.l.f. Beauty in a research note on Thursday, November 7th. JPMorgan Chase & Co. dropped their price target on shares of e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Stifel Nicolaus dropped their price target on shares of e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.53.

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.