Palisade Capital Management LP Takes Position in e.l.f. Beauty $ELF

Palisade Capital Management LP purchased a new position in e.l.f. Beauty (NYSE:ELF) in the second quarter, HoldingsChannel reports. The firm purchased 35,197 shares of the company’s stock, valued at approximately $2,605,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of e.l.f. Beauty by 3,131.7% during the fourth quarter. BNP Paribas Financial Markets now owns 924,902 shares of the company’s stock valued at $70,330,000 after buying an additional 896,282 shares during the last quarter. Norges Bank bought a new position in shares of e.l.f. Beauty during the fourth quarter worth $38,895,000. Delta Global Management LP bought a new position in shares of e.l.f. Beauty during the first quarter worth $1,227,000. Vanguard Group Inc. grew its stake in e.l.f. Beauty by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 5,487,304 shares of the company’s stock valued at $417,255,000 after acquiring an additional 140,258 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in e.l.f. Beauty by 138,082.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 276,364 shares of the company’s stock valued at $21,015,000 after acquiring an additional 276,164 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

e.l.f. Beauty Stock Performance

e.l.f. Beauty stock opened at $105.90 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.55 and a quick ratio of 1.82. The firm has a market capitalization of $6.25 billion, a P/E ratio of 105.90, a price-to-earnings-growth ratio of 3.29 and a beta of 1.58. e.l.f. Beauty has a 1-year low of $48.82 and a 1-year high of $150.99. The company’s 50-day moving average is $81.10 and its 200 day moving average is $72.39.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Wednesday, August 5th. The company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $0.71 by $1.04. e.l.f. Beauty had a return on equity of 14.07% and a net margin of 3.38%.The business had revenue of $479.37 million during the quarter, compared to the consensus estimate of $431.20 million. During the same period last year, the company earned $0.89 earnings per share. The business’s revenue for the quarter was up 35.5% compared to the same quarter last year. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. Research analysts forecast that e.l.f. Beauty will post 2.64 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ELF. UBS Group raised their price objective on e.l.f. Beauty from $80.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Canaccord Genuity Group boosted their target price on e.l.f. Beauty from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Morgan Stanley dropped their price target on e.l.f. Beauty from $67.00 to $59.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. Jefferies Financial Group raised their price target on e.l.f. Beauty from $72.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, B. Riley Financial lifted their price objective on e.l.f. Beauty from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.31.

Insider Buying and Selling at e.l.f. Beauty

In other e.l.f. Beauty news, insider Mandy J. Fields sold 8,464 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $51.94, for a total value of $439,620.16. Following the completion of the sale, the insider directly owned 111,288 shares in the company, valued at approximately $5,780,298.72. This represents a 7.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joshua Allen Franks sold 6,854 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $51.94, for a total transaction of $355,996.76. Following the transaction, the senior vice president owned 153,532 shares in the company, valued at approximately $7,974,452.08. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 140,780 shares of company stock valued at $10,091,078. 3.50% of the stock is owned by corporate insiders.

e.l.f. Beauty Company Profile

e.l.f. Beauty (NYSE: ELF) is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company’s portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.