Mutual of America Capital Management LLC Cuts Stake in e.l.f. Beauty (NYSE:ELF)

Mutual of America Capital Management LLC lowered its position in shares of e.l.f. Beauty (NYSE:ELF) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,026 shares of the company’s stock after selling 730 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of e.l.f. Beauty worth $1,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nemes Rush Group LLC acquired a new position in e.l.f. Beauty in the fourth quarter valued at approximately $27,000. Orion Capital Management LLC acquired a new position in shares of e.l.f. Beauty in the 4th quarter valued at $30,000. Golden State Wealth Management LLC acquired a new position in e.l.f. Beauty during the 1st quarter worth about $33,000. Covestor Ltd raised its position in e.l.f. Beauty by 55.7% in the 4th quarter. Covestor Ltd now owns 928 shares of the company’s stock valued at $117,000 after purchasing an additional 332 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of e.l.f. Beauty by 132.2% in the 1st quarter. GAMMA Investing LLC now owns 1,999 shares of the company’s stock valued at $126,000 after acquiring an additional 1,138 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley boosted their price target on e.l.f. Beauty from $70.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, May 29th. Piper Sandler restated an “overweight” rating and issued a $109.00 target price (up from $81.00) on shares of e.l.f. Beauty in a research report on Thursday, May 29th. Jefferies Financial Group set a $115.00 price objective on e.l.f. Beauty and gave the stock a “buy” rating in a research note on Thursday, May 29th. Bank of America lifted their price objective on e.l.f. Beauty from $113.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. upped their price target on e.l.f. Beauty from $70.00 to $123.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $123.38.

Insider Activity

In related news, SVP Joshua Allen Franks sold 51,353 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president owned 114,660 shares in the company, valued at approximately $6,118,257.60. This represents a 30.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Catherine Hartnett sold 18,383 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $109.99, for a total transaction of $2,021,946.17. Following the transaction, the insider owned 54,163 shares of the company’s stock, valued at $5,957,388.37. This trade represents a 25.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,207 shares of company stock valued at $25,252,926 in the last quarter. Company insiders own 3.90% of the company’s stock.

e.l.f. Beauty Trading Up 6.2%

NYSE:ELF opened at $117.76 on Friday. e.l.f. Beauty has a one year low of $49.40 and a one year high of $190.38. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.05 and a quick ratio of 2.00. The company’s 50-day simple moving average is $109.84 and its 200 day simple moving average is $89.35. The firm has a market capitalization of $6.68 billion, a P/E ratio of 61.02, a PEG ratio of 2.78 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, topping the consensus estimate of $0.72 by $0.06. e.l.f. Beauty had a net margin of 8.53% and a return on equity of 17.98%. The business had revenue of $332.65 million during the quarter, compared to analysts’ expectations of $327.45 million. During the same period in the previous year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts forecast that e.l.f. Beauty will post 2.38 EPS 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.