Formula Growth Ltd. Purchases Shares of 5,000 e.l.f. Beauty, Inc. (NYSE:ELF)

Formula Growth Ltd. acquired a new stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $628,000.

A number of other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of e.l.f. Beauty in the 3rd quarter worth approximately $25,000. Nemes Rush Group LLC purchased a new stake in e.l.f. Beauty during the fourth quarter valued at about $27,000. Promus Capital LLC purchased a new position in shares of e.l.f. Beauty in the fourth quarter worth about $31,000. Kestra Investment Management LLC bought a new stake in shares of e.l.f. Beauty in the 4th quarter valued at about $32,000. Finally, Financial Life Planners bought a new position in e.l.f. Beauty during the 4th quarter worth approximately $46,000. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group dropped their price objective on e.l.f. Beauty from $142.00 to $124.00 and set a “buy” rating for the company in a research note on Friday, February 21st. UBS Group lowered their price objective on shares of e.l.f. Beauty from $74.00 to $59.00 and set a “neutral” rating for the company in a research note on Thursday. Raymond James reduced their price target on e.l.f. Beauty from $120.00 to $85.00 and set a “strong-buy” rating on the stock in a report on Thursday. DA Davidson cut their price objective on e.l.f. Beauty from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Stifel Nicolaus decreased their target price on e.l.f. Beauty from $115.00 to $105.00 and set a “hold” rating for the company in a report on Monday, February 3rd. Five investment 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 stock. According to data from MarketBeat.com, e.l.f. Beauty has a consensus rating of “Moderate Buy” and a consensus target price of $121.82.

Insider Activity at e.l.f. Beauty

In other news, Director Maureen C. Watson sold 4,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $67.39, for a total transaction of $269,560.00. Following the sale, the director now owns 1,888 shares in the company, valued at $127,232.32. This represents a 67.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.50% of the stock is currently owned by insiders.

e.l.f. Beauty Price Performance

Shares of ELF opened at $52.60 on Friday. The firm’s 50-day simple moving average is $64.02 and its two-hundred day simple moving average is $99.23. e.l.f. Beauty, Inc. has a fifty-two week low of $49.40 and a fifty-two week high of $219.77. The stock has a market cap of $2.97 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 6.76 and a beta of 1.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.17 and a current ratio of 1.90.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. Analysts anticipate 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.