Bessemer Group Inc. Cuts Stock Holdings in e.l.f. Beauty $ELF

Bessemer Group Inc. reduced its stake in shares of e.l.f. Beauty (NYSE:ELF) by 35.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,191 shares of the company’s stock after selling 7,810 shares during the quarter. Bessemer Group Inc.’s holdings in e.l.f. Beauty were worth $1,766,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ELF. Golden State Wealth Management LLC bought a new position in e.l.f. Beauty during the 1st quarter worth approximately $33,000. Larson Financial Group LLC boosted its stake in shares of e.l.f. Beauty by 56.5% during the first quarter. Larson Financial Group LLC now owns 676 shares of the company’s stock valued at $42,000 after purchasing an additional 244 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of e.l.f. Beauty by 577.7% in the first quarter. Smartleaf Asset Management LLC now owns 759 shares of the company’s stock worth $49,000 after purchasing an additional 647 shares during the last quarter. Signaturefd LLC grew its holdings in shares of e.l.f. Beauty by 27.9% in the first quarter. Signaturefd LLC now owns 858 shares of the company’s stock worth $54,000 after purchasing an additional 187 shares during the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of e.l.f. Beauty by 6,242.9% in the first quarter. Brooklyn Investment Group now owns 888 shares of the company’s stock worth $56,000 after buying an additional 874 shares during the period. Institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Price Performance

Shares of NYSE ELF opened at $123.11 on Friday. e.l.f. Beauty has a 1 year low of $49.40 and a 1 year high of $150.99. The stock has a market capitalization of $7.30 billion, a P/E ratio of 72.42, a P/E/G ratio of 2.95 and a beta of 1.57. The company’s 50-day moving average is $132.38 and its 200 day moving average is $111.86. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. e.l.f. Beauty had a return on equity of 16.36% and a net margin of 7.29%.The business had revenue of $353.74 million for the quarter, compared to analysts’ expectations of $348.99 million. During the same period in the previous year, the firm posted $1.10 EPS. The business’s revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ELF. UBS Group increased their price target on shares of e.l.f. Beauty from $112.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of e.l.f. Beauty in a report on Wednesday, October 8th. Morgan Stanley boosted their price target on e.l.f. Beauty from $134.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Jefferies Financial Group increased their price objective on e.l.f. Beauty from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Raymond James Financial lifted their price objective on e.l.f. Beauty from $155.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.07.

Insider Activity at e.l.f. Beauty

In related news, insider Mandy J. Fields sold 5,298 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $150.21, for a total transaction of $795,812.58. Following the sale, the insider directly owned 58,856 shares in the company, valued at $8,840,759.76. The trade was a 8.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tarang Amin sold 116,315 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $132.24, for a total value of $15,381,495.60. Following the completion of the transaction, the chief executive officer owned 81,818 shares of the company’s stock, valued at approximately $10,819,612.32. This trade represents a 58.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 301,060 shares of company stock valued at $40,994,733 over the last ninety days. Insiders own 3.90% of the company’s stock.

About e.l.f. Beauty

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.