Bank of New York Mellon Corp Has $25.66 Million Stake in e.l.f. Beauty (NYSE:ELF)

Bank of New York Mellon Corp decreased its holdings in e.l.f. Beauty (NYSE:ELF) by 14.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 408,597 shares of the company’s stock after selling 67,773 shares during the quarter. Bank of New York Mellon Corp owned 0.72% of e.l.f. Beauty worth $25,656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Champlain Investment Partners LLC raised its position in shares of e.l.f. Beauty by 99.7% in the 4th quarter. Champlain Investment Partners LLC now owns 2,226,451 shares of the company’s stock valued at $279,531,000 after buying an additional 1,111,550 shares in the last quarter. Aspex Management HK Ltd acquired a new position in e.l.f. Beauty during the 4th quarter worth approximately $73,576,000. AXA S.A. increased its position in e.l.f. Beauty by 2,074.4% during the 4th quarter. AXA S.A. now owns 394,005 shares of the company’s stock worth $49,467,000 after purchasing an additional 375,885 shares in the last quarter. Generate Investment Management Ltd acquired a new position in e.l.f. Beauty during the 1st quarter worth approximately $21,650,000. Finally, Congress Asset Management Co. increased its position in e.l.f. Beauty by 53.7% during the 1st quarter. Congress Asset Management Co. now owns 938,970 shares of the company’s stock worth $58,958,000 after purchasing an additional 327,980 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Buying and Selling

In related news, insider Kory Marchisotto sold 1,496 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $117.61, for a total transaction of $175,944.56. Following the completion of the sale, the insider owned 158,303 shares in the company, valued at approximately $18,618,015.83. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tarang Amin sold 2,405 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $117.61, for a total transaction of $282,852.05. Following the sale, the chief executive officer owned 186,586 shares of the company’s stock, valued at $21,944,379.46. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,207 shares of company stock valued at $25,252,926 over the last 90 days. 3.90% of the stock is currently owned by company insiders.

e.l.f. Beauty Trading Up 1.6%

NYSE:ELF opened at $108.55 on Thursday. The firm’s fifty day moving average is $107.96 and its 200-day moving average is $89.76. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 3.05. e.l.f. Beauty has a 52 week low of $49.40 and a 52 week high of $190.38. The firm has a market cap of $6.16 billion, a P/E ratio of 56.24, a P/E/G ratio of 2.53 and a beta of 1.52.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings data on Wednesday, May 28th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $332.65 million for the quarter, compared to analyst estimates of $327.45 million. e.l.f. Beauty had a net margin of 8.53% and a return on equity of 17.98%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. Equities analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, June 6th. Piper Sandler reiterated an “overweight” rating and set a $109.00 price objective (up from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. UBS Group upped their price objective on shares of e.l.f. Beauty from $59.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 21st. Morgan Stanley upped their price objective on shares of e.l.f. Beauty from $70.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 29th. Finally, B. Riley reiterated a “buy” rating and set a $150.00 price objective (up from $110.00) on shares of e.l.f. Beauty in a research report on Friday, June 13th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.13.

e.l.f. Beauty 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.