Freedom Investment Management Inc. Acquires 3,312 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Freedom Investment Management Inc. raised its holdings in e.l.f. Beauty, Inc. (NYSE:ELF) by 66.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,284 shares of the company’s stock after purchasing an additional 3,312 shares during the quarter. Freedom Investment Management Inc.’s holdings in e.l.f. Beauty were worth $903,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Baillie Gifford & Co. raised its holdings in shares of 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 valued at $578,480,000 after buying an additional 1,501,151 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of e.l.f. Beauty by 12.5% in the second quarter. William Blair Investment Management LLC now owns 1,512,180 shares of the company’s stock worth $318,647,000 after acquiring an additional 168,267 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of e.l.f. Beauty by 84.4% during the second quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock worth $265,432,000 after purchasing an additional 576,383 shares in the last quarter. FMR LLC grew its stake in shares of e.l.f. Beauty by 5.5% during the third quarter. FMR LLC now owns 1,186,766 shares of the company’s stock valued at $129,393,000 after purchasing an additional 61,524 shares during the last quarter. Finally, Champlain Investment Partners LLC acquired a new stake in shares of e.l.f. Beauty in the third quarter valued at approximately $121,558,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Activity

In other news, CEO Tarang Amin sold 23,528 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was 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 directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ELF. 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. Canaccord Genuity Group dropped their price objective on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. B. Riley reduced their target price 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. DA Davidson reissued a “buy” rating and set a $170.00 price target on shares of e.l.f. Beauty in a research note on Monday. Finally, Stifel Nicolaus cut their price objective on shares of e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.53.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock opened at $127.15 on Friday. The stock’s fifty day simple moving average is $113.32 and its 200 day simple moving average is $151.76. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $7.16 billion, a PE ratio of 68.73, a PEG ratio of 2.85 and a beta of 1.44. e.l.f. Beauty, Inc. has a 12 month low of $98.50 and a 12 month high of $221.83.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, topping 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 analyst estimates of $289.43 million. During the same quarter last year, the firm posted $0.66 earnings per share. e.l.f. Beauty’s revenue was up 39.7% compared to the same quarter last year. On average, research analysts predict that e.l.f. Beauty, Inc. will post 2.8 EPS for the current year.

About e.l.f. Beauty

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.