GAMMA Investing LLC Buys 124,656 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

GAMMA Investing LLC boosted its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 14,478.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,517 shares of the company’s stock after purchasing an additional 124,656 shares during the quarter. GAMMA Investing LLC owned about 0.22% of e.l.f. Beauty worth $7,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in e.l.f. Beauty by 14.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,942 shares of the company’s stock worth $4,823,000 after acquiring an additional 4,823 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in shares of e.l.f. Beauty by 84.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 429 shares of the company’s stock worth $54,000 after acquiring an additional 197 shares during the last quarter. Stephens Inc. AR lifted its position in e.l.f. Beauty by 9.3% during the fourth quarter. Stephens Inc. AR now owns 6,484 shares of the company’s stock worth $814,000 after buying an additional 553 shares in the last quarter. Aubrey Capital Management Ltd purchased a new position in e.l.f. Beauty during the fourth quarter worth approximately $552,000. Finally, Legato Capital Management LLC purchased a new stake in e.l.f. Beauty in the fourth quarter valued at $926,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELF has been the topic of several research analyst reports. Bank of America boosted their price objective on e.l.f. Beauty from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. The Goldman Sachs Group reduced their target price on e.l.f. Beauty from $142.00 to $124.00 and set a “buy” rating for the company in a report on Friday, February 21st. Piper Sandler reaffirmed an “overweight” rating and set a $109.00 price objective (up from $81.00) on shares of e.l.f. Beauty in a research note on Thursday, May 29th. Robert W. Baird increased their target price on e.l.f. Beauty from $110.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Jefferies Financial Group set a $115.00 target price on e.l.f. Beauty and gave the company a “buy” rating in a report on Thursday, May 29th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.71.

Insider Transactions at e.l.f. Beauty

In other news, insider Kory Marchisotto sold 51,350 shares of e.l.f. Beauty stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $2,740,036.00. Following the completion of the transaction, the insider now directly owns 152,492 shares in the company, valued at $8,136,973.12. This trade represents a 25.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joshua Allen Franks sold 51,353 shares of the firm’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $2,740,196.08. Following the transaction, the senior vice president now directly owns 114,660 shares in the company, valued at $6,118,257.60. The trade was a 30.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 309,375 shares of company stock valued at $23,170,147. 3.50% of the stock is currently owned by company insiders.

e.l.f. Beauty Trading Up 1.8%

e.l.f. Beauty stock opened at $117.83 on Monday. The firm has a 50-day moving average of $72.37 and a 200-day moving average of $91.24. e.l.f. Beauty, Inc. has a one year low of $49.40 and a one year high of $219.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.17. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 69.72, a P/E/G ratio of 6.76 and a beta of 1.52.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. The company had revenue of $332.65 million for the quarter, compared to analysts’ expectations of $327.45 million. During the same period in the prior year, the firm earned $0.53 EPS. e.l.f. Beauty’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts expect that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current fiscal year.

e.l.f. Beauty Company Profile

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.