Independence Bank of Kentucky Purchases 3,560 Shares of e.l.f. Beauty $ELF

Independence Bank of Kentucky grew its position in e.l.f. Beauty (NYSE:ELF) by 26.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,234 shares of the company’s stock after buying an additional 3,560 shares during the period. Independence Bank of Kentucky’s holdings in e.l.f. Beauty were worth $2,145,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Congress Asset Management Co. boosted its holdings in shares of e.l.f. Beauty by 1.3% in the 2nd quarter. Congress Asset Management Co. now owns 951,309 shares of the company’s stock valued at $118,381,000 after buying an additional 12,339 shares in the last quarter. Dakota Wealth Management bought a new stake in shares of e.l.f. Beauty in the 2nd quarter valued at about $327,000. Harrell Investment Partners LLC bought a new stake in shares of e.l.f. Beauty in the 2nd quarter valued at about $271,000. Public Employees Retirement System of Ohio boosted its holdings in shares of e.l.f. Beauty by 3.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 17,102 shares of the company’s stock valued at $2,128,000 after buying an additional 497 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of e.l.f. Beauty in the 2nd quarter valued at about $495,000. 92.44% of the stock is currently owned by institutional investors.

e.l.f. Beauty Stock Performance

ELF opened at $129.99 on Monday. e.l.f. Beauty has a 12-month low of $49.40 and a 12-month high of $150.99. The company has a current ratio of 3.26, a quick ratio of 2.34 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $7.71 billion, a PE ratio of 76.47, a P/E/G ratio of 3.01 and a beta of 1.59. The firm has a 50 day moving average of $124.78 and a two-hundred day moving average of $100.17.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The company had revenue of $353.74 million during the quarter, compared to analyst estimates of $348.99 million. During the same period last year, the firm posted $1.10 EPS. e.l.f. Beauty’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, analysts anticipate that e.l.f. Beauty will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ELF shares. Robert W. Baird raised their price target on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, June 6th. Deutsche Bank Aktiengesellschaft cut shares of e.l.f. Beauty from a “buy” rating to a “hold” rating and lifted their target price for the stock from $121.00 to $128.00 in a research note on Tuesday, September 2nd. UBS Group lowered their target price on shares of e.l.f. Beauty from $120.00 to $112.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. The Goldman Sachs Group lifted their target price on shares of e.l.f. Beauty from $120.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of e.l.f. Beauty from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.40.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, insider Mandy J. Fields sold 55,692 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $136.28, for a total transaction of $7,589,705.76. Following the completion of the transaction, the insider directly owned 64,154 shares of the company’s stock, valued at approximately $8,742,907.12. This trade represents a 46.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Scott Milsten sold 55,581 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $134.56, for a total transaction of $7,478,979.36. Following the transaction, the insider directly owned 112,406 shares of the company’s stock, valued at $15,125,351.36. This represents a 33.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,745 shares of company stock worth $25,613,238 in the last ninety days. 3.90% of the stock is owned by company insiders.

About e.l.f. Beauty

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.