FORA Capital LLC Buys New Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

FORA Capital LLC acquired a new stake 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 (SEC). The firm acquired 30,931 shares of the company’s stock, valued at approximately $3,372,000. FORA Capital LLC owned 0.05% of e.l.f. Beauty at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Blueshift Asset Management LLC purchased a new stake in shares of e.l.f. Beauty during the 3rd quarter valued at about $514,000. Freedom Investment Management Inc. raised its stake in shares of e.l.f. Beauty by 66.6% during the third quarter. Freedom Investment Management Inc. now owns 8,284 shares of the company’s stock valued at $903,000 after purchasing an additional 3,312 shares during the period. Cynosure Group LLC lifted its position in shares of e.l.f. Beauty by 159.9% during the third quarter. Cynosure Group LLC now owns 9,663 shares of the company’s stock worth $1,054,000 after purchasing an additional 5,945 shares in the last quarter. Townsquare Capital LLC grew its holdings in e.l.f. Beauty by 8.1% during the 3rd quarter. Townsquare Capital LLC now owns 41,319 shares of the company’s stock valued at $4,505,000 after purchasing an additional 3,110 shares in the last quarter. Finally, FMR LLC increased its stake in e.l.f. Beauty by 5.5% during the 3rd quarter. FMR LLC now owns 1,186,766 shares of the company’s stock worth $129,393,000 after buying an additional 61,524 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $165.00 price objective (up from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. Truist Financial reduced their price target on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Stifel Nicolaus cut their target price on e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Canaccord Genuity Group decreased their price target on shares of e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Bank of America reduced their price objective on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and an average price target of $173.53.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock traded up $3.26 on Wednesday, reaching $127.55. 321,244 shares of the company were exchanged, compared to its average volume of 1,972,802. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 67.21, a P/E/G ratio of 2.85 and a beta of 1.44. e.l.f. Beauty, Inc. has a 1-year low of $98.50 and a 1-year high of $221.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78. The company’s 50-day moving average is $112.82 and its two-hundred day moving average is $152.11.

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, beating analysts’ consensus estimates of $0.43 by $0.34. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The company had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $289.43 million. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. As a group, research analysts expect that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current fiscal year.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction on 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 sale, the chief executive officer now owns 106,016 shares of the company’s stock, valued at $14,465,883.20. The trade was a 18.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is currently owned by insiders.

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.