Prime Capital Investment Advisors LLC Decreases Stock Holdings in e.l.f. Beauty $ELF

Prime Capital Investment Advisors LLC decreased its stake in shares of e.l.f. Beauty (NYSE:ELF) by 39.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,307 shares of the company’s stock after selling 2,164 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in e.l.f. Beauty were worth $412,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ELF. Champlain Investment Partners LLC lifted its position in e.l.f. Beauty by 19.7% during the first quarter. Champlain Investment Partners LLC now owns 2,665,026 shares of the company’s stock worth $167,337,000 after buying an additional 438,575 shares in the last quarter. Prime Capital Management Co Ltd raised its holdings in shares of e.l.f. Beauty by 167.8% during the 1st quarter. Prime Capital Management Co Ltd now owns 604,535 shares of the company’s stock worth $37,959,000 after acquiring an additional 378,826 shares during the period. Mackenzie Financial Corp raised its stake in e.l.f. Beauty by 68.0% during the first quarter. Mackenzie Financial Corp now owns 862,671 shares of the company’s stock worth $54,167,000 after purchasing an additional 349,024 shares during the period. Swedbank AB raised its stake in e.l.f. Beauty by 42.6% during the first quarter. Swedbank AB now owns 1,157,760 shares of the company’s stock worth $72,696,000 after purchasing an additional 345,760 shares during the period. Finally, Generate Investment Management Ltd purchased a new position in e.l.f. Beauty during the first quarter worth about $21,650,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Down 10.8%

Shares of ELF opened at $129.37 on Friday. The stock has a market capitalization of $7.67 billion, a PE ratio of 76.10, a P/E/G ratio of 3.37 and a beta of 1.57. e.l.f. Beauty has a 1 year low of $49.40 and a 1 year high of $150.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.34 and a current ratio of 3.26. The company’s 50-day simple moving average is $128.38 and its 200-day simple moving average is $104.65.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $353.74 million for the quarter, compared to analysts’ expectations of $348.99 million. During the same quarter in the prior year, the company earned $1.10 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts forecast that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling at e.l.f. Beauty

In other news, CEO Tarang Amin sold 116,315 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $132.24, for a total transaction of $15,381,495.60. Following the sale, the chief executive officer owned 81,818 shares of the company’s stock, valued at approximately $10,819,612.32. This represents a 58.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott Milsten sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $150.23, for a total value of $2,253,450.00. Following the sale, the insider directly owned 97,406 shares in the company, valued at $14,633,303.38. This represents a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 301,060 shares of company stock valued at $40,994,733. Insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. B. Riley lifted their target price on shares of e.l.f. Beauty from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. The Goldman Sachs Group lifted their price target on shares of e.l.f. Beauty from $137.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Morgan Stanley lifted their target price on e.l.f. Beauty from $134.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday. Piper Sandler initiated coverage on e.l.f. Beauty in a research report on Thursday, September 4th. They issued an “overweight” rating and a $150.00 target price on the stock. Finally, Bank of America boosted their price objective on shares of e.l.f. Beauty from $135.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, e.l.f. Beauty has an average rating of “Moderate Buy” and an average price target of $142.07.

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.