Russell Investments Group Ltd. Sells 48,799 Shares of e.l.f. Beauty $ELF

Russell Investments Group Ltd. trimmed its holdings in shares of e.l.f. Beauty (NYSE:ELF) by 60.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,376 shares of the company’s stock after selling 48,799 shares during the period. Russell Investments Group Ltd. owned about 0.06% of e.l.f. Beauty worth $2,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. ProShare Advisors LLC grew its holdings in e.l.f. Beauty by 7.1% during the 4th quarter. ProShare Advisors LLC now owns 2,635 shares of the company’s stock worth $331,000 after acquiring an additional 174 shares in the last quarter. Signaturefd LLC grew its holdings in e.l.f. Beauty by 27.9% during the 1st quarter. Signaturefd LLC now owns 858 shares of the company’s stock worth $54,000 after acquiring an additional 187 shares in the last quarter. State of Michigan Retirement System grew its holdings in e.l.f. Beauty by 1.5% during the 1st quarter. State of Michigan Retirement System now owns 13,500 shares of the company’s stock worth $848,000 after acquiring an additional 200 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of e.l.f. Beauty by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company’s stock valued at $992,000 after buying an additional 200 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of e.l.f. Beauty by 1.0% in the 1st quarter. Fifth Third Bancorp now owns 21,751 shares of the company’s stock valued at $1,366,000 after buying an additional 216 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Insider Transactions at e.l.f. Beauty

In related news, insider Scott Milsten sold 1,442 shares of e.l.f. Beauty stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $114.78, for a total value of $165,512.76. Following the sale, the insider owned 117,394 shares of the company’s stock, valued at approximately $13,474,483.32. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kory Marchisotto sold 1,496 shares of e.l.f. Beauty stock in a transaction on 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 directly owned 158,303 shares in the company, valued at $18,618,015.83. This represents a 0.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,219 shares of company stock worth $15,098,642 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ELF. Morgan Stanley upgraded shares of e.l.f. Beauty from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $114.00 to $134.00 in a report on Monday, August 11th. Truist Financial raised their price target on shares of e.l.f. Beauty from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, June 6th. Raymond James Financial raised their price target on shares of e.l.f. Beauty from $95.00 to $105.00 and gave the company a “strong-buy” rating in a report on Thursday, May 29th. B. Riley restated a “buy” rating and issued a $150.00 price target (up from $110.00) on shares of e.l.f. Beauty in a report on Friday, June 13th. Finally, Robert W. Baird raised their price target on shares of e.l.f. Beauty from $110.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.81.

e.l.f. Beauty Stock Up 1.1%

ELF stock opened at $115.18 on Wednesday. The firm has a 50 day moving average of $118.09 and a 200 day moving average of $89.77. The stock has a market capitalization of $6.83 billion, a PE ratio of 67.75, a price-to-earnings-growth ratio of 2.81 and a beta of 1.57. The company has a quick ratio of 2.34, a current ratio of 3.26 and a debt-to-equity ratio of 0.32. e.l.f. Beauty has a 52 week low of $49.40 and a 52 week high of $159.22.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $353.74 million during the quarter, compared to analyst estimates of $348.99 million. During the same period last year, the firm posted $1.10 EPS. e.l.f. Beauty’s revenue for the quarter was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that e.l.f. Beauty will post 2.38 earnings per share for the current 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.