Freestone Grove Partners LP Takes Position in e.l.f. Beauty $ELF

Freestone Grove Partners LP acquired a new position in shares of e.l.f. Beauty (NYSE:ELF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 79,387 shares of the company’s stock, valued at approximately $5,875,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jupiter Topco LLC acquired a new position in e.l.f. Beauty during the second quarter worth approximately $2,035,000. Hsbc Holdings PLC purchased a new position in shares of e.l.f. Beauty during the 2nd quarter worth approximately $307,000. Primecap Management Co. CA acquired a new stake in shares of e.l.f. Beauty in the second quarter valued at about $78,202,000. PDT Partners LLC purchased a new stake in shares of e.l.f. Beauty during the 2nd quarter worth approximately $7,172,000. Finally, Palisade Capital Management LP purchased a new stake in e.l.f. Beauty during the second quarter worth $2,605,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jennifer Catherine Hartnett sold 25,357 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $80.00, for a total transaction of $2,028,560.00. Following the sale, the insider owned 28,699 shares in the company, valued at $2,295,920. This represents a 46.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joshua Allen Franks sold 5,718 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $100.00, for a total value of $571,800.00. Following the sale, the senior vice president owned 144,309 shares in the company, valued at $14,430,900. The trade was a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 140,780 shares of company stock worth $10,091,078. Corporate insiders own 3.50% of the company’s stock.

e.l.f. Beauty Trading Down 1.9%

Shares of ELF opened at $104.20 on Friday. e.l.f. Beauty has a one year low of $48.82 and a one year high of $150.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.82 and a current ratio of 2.55. The company has a market capitalization of $6.15 billion, a P/E ratio of 104.20, a P/E/G ratio of 3.30 and a beta of 1.58. The stock has a 50-day moving average price of $83.63 and a 200 day moving average price of $72.99.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $1.04. The firm had revenue of $479.37 million for the quarter, compared to analysts’ expectations of $431.20 million. e.l.f. Beauty had a net margin of 3.38% and a return on equity of 14.07%. The firm’s quarterly revenue was up 35.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. Sell-side analysts forecast that e.l.f. Beauty will post 2.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ELF has been the topic of several recent research reports. Morgan Stanley reduced their price target on shares of e.l.f. Beauty from $67.00 to $59.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Sanford C. Bernstein raised their price objective on e.l.f. Beauty from $113.00 to $121.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Zacks Research raised e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $64.00 target price on shares of e.l.f. Beauty in a research report on Tuesday, June 16th. Finally, The Goldman Sachs Group set a $100.00 price target on e.l.f. Beauty in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.12.

e.l.f. Beauty Company Profile

e.l.f. Beauty (NYSE: ELF) is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company’s portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.