Federated Hermes Inc. Sells 112,881 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Federated Hermes Inc. trimmed its holdings in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 94.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,009 shares of the company’s stock after selling 112,881 shares during the period. Federated Hermes Inc.’s holdings in e.l.f. Beauty were worth $1,266,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ELF. Ashton Thomas Private Wealth LLC acquired a new position in e.l.f. Beauty during the second quarter valued at approximately $26,000. Matrix Trust Co acquired a new stake in shares of e.l.f. Beauty in the 2nd quarter valued at approximately $27,000. Innealta Capital LLC bought a new position in shares of e.l.f. Beauty in the second quarter valued at $30,000. Harbor Investment Advisory LLC acquired a new position in e.l.f. Beauty during the first quarter worth $31,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in e.l.f. Beauty by 405.9% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock worth $36,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ELF shares. Canaccord Genuity Group boosted their price objective on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. DA Davidson reaffirmed a “buy” rating and issued a $223.00 price objective on shares of e.l.f. Beauty in a research report on Wednesday. Robert W. Baird boosted their target price on e.l.f. Beauty from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. cut their price target on e.l.f. Beauty from $224.00 to $207.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $235.00 price objective on shares of e.l.f. Beauty in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, e.l.f. Beauty presently has an average rating of “Moderate Buy” and a consensus target price of $198.80.

e.l.f. Beauty Stock Down 1.5 %

NYSE ELF opened at $112.91 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 50.86, a PEG ratio of 2.37 and a beta of 1.45. The company has a 50 day moving average of $153.71 and a 200-day moving average of $174.39. e.l.f. Beauty, Inc. has a 1-year low of $88.47 and a 1-year high of $221.83.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Thursday, August 8th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. The firm had revenue of $324.48 million during the quarter, compared to the consensus estimate of $303.60 million. e.l.f. Beauty had a return on equity of 23.30% and a net margin of 10.80%. On average, equities research analysts expect that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Tarang Amin sold 15,386 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $200.85, for a total value of $3,090,278.10. Following the completion of the transaction, the chief executive officer now directly owns 171,329 shares in the company, valued at approximately $34,411,429.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Tarang Amin sold 15,386 shares of e.l.f. Beauty stock in a transaction on Friday, July 5th. The stock was sold at an average price of $200.85, for a total value of $3,090,278.10. Following the transaction, the chief executive officer now owns 171,329 shares in the company, valued at approximately $34,411,429.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Joshua Allen Franks sold 3,370 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $201.28, for a total value of $678,313.60. Following the completion of the sale, the senior vice president now directly owns 71,986 shares in the company, valued at $14,489,342.08. The disclosure for this sale can be found here. Insiders sold 19,304 shares of company stock valued at $3,864,492 over the last quarter. 5.20% of the stock is owned by company 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.