Independence Bank of Kentucky Cuts Stake in e.l.f. Beauty $ELF

Independence Bank of Kentucky lessened its stake in shares of e.l.f. Beauty (NYSE:ELF) by 55.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,835 shares of the company’s stock after selling 8,580 shares during the period. Independence Bank of Kentucky’s holdings in e.l.f. Beauty were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ELF. EverSource Wealth Advisors LLC raised its holdings in shares of e.l.f. Beauty by 97.0% during the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock valued at $32,000 after acquiring an additional 128 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of e.l.f. Beauty by 58.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock worth $39,000 after acquiring an additional 117 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of e.l.f. Beauty in the fourth quarter worth approximately $26,000. Hilton Head Capital Partners LLC purchased a new stake in shares of e.l.f. Beauty during the fourth quarter worth approximately $32,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of e.l.f. Beauty during the third quarter worth approximately $64,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

e.l.f. Beauty Trading Up 1.5%

NYSE:ELF traded up $1.14 during trading hours on Friday, hitting $76.90. The company had a trading volume of 1,631,380 shares, compared to its average volume of 3,212,535. The company has a current ratio of 2.35, a quick ratio of 1.69 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average of $61.38 and a 200 day moving average of $71.81. The company has a market cap of $4.53 billion, a P/E ratio of 167.18, a P/E/G ratio of 2.99 and a beta of 1.59. e.l.f. Beauty has a 1 year low of $48.82 and a 1 year high of $150.99.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Wednesday, May 20th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. e.l.f. Beauty had a return on equity of 11.02% and a net margin of 1.61%.The business had revenue of $449.29 million for the quarter, compared to analyst estimates of $423.06 million. During the same quarter in the previous year, the firm earned $0.78 EPS. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. Sell-side analysts expect that e.l.f. Beauty will post 2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Jefferies Financial Group decreased their price objective on e.l.f. Beauty from $85.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Sanford C. Bernstein began coverage on shares of e.l.f. Beauty in a report on Thursday, June 11th. They set a “market perform” rating and a $60.00 target price for the company. Evercore initiated coverage on shares of e.l.f. Beauty in a research report on Thursday, April 2nd. They set an “inline” rating and a $68.00 price target on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $64.00 price objective on shares of e.l.f. Beauty in a research note on Tuesday, June 16th. Finally, Piper Sandler reiterated a “neutral” rating on shares of e.l.f. Beauty in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.31.

Insider Activity

In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 3,505 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $51.53, for a total value of $180,612.65. Following the transaction, the senior vice president directly owned 150,027 shares in the company, valued at $7,730,891.31. The trade was a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Catherine Hartnett sold 25,357 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.00, for a total transaction of $2,028,560.00. Following the completion of the sale, the insider directly owned 28,699 shares of the company’s stock, valued at approximately $2,295,920. This trade represents a 46.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 278,988 shares of company stock valued at $18,354,580 in the last quarter. Insiders own 3.90% of the company’s stock.

e.l.f. Beauty 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.