Van ECK Associates Corp Boosts Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

Van ECK Associates Corp increased its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 27.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,659 shares of the company’s stock after buying an additional 5,734 shares during the quarter. Van ECK Associates Corp’s holdings in e.l.f. Beauty were worth $5,618,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Truist Financial Corp increased its holdings in shares of e.l.f. Beauty by 18.8% in the fourth quarter. Truist Financial Corp now owns 7,245 shares of the company’s stock valued at $1,046,000 after purchasing an additional 1,146 shares during the period. Precision Wealth Strategies LLC purchased a new position in e.l.f. Beauty during the 4th quarter worth approximately $254,000. Victory Capital Management Inc. lifted its stake in e.l.f. Beauty by 94.4% during the 4th quarter. Victory Capital Management Inc. now owns 95,329 shares of the company’s stock valued at $13,760,000 after acquiring an additional 46,279 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in shares of e.l.f. Beauty by 3.2% in the 4th quarter. First Trust Direct Indexing L.P. now owns 2,106 shares of the company’s stock valued at $304,000 after acquiring an additional 65 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of e.l.f. Beauty by 38.0% in the fourth quarter. First Horizon Advisors Inc. now owns 338 shares of the company’s stock worth $49,000 after acquiring an additional 93 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other e.l.f. Beauty news, CEO Tarang Amin sold 548 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $175.00, for a total value of $95,900.00. Following the transaction, the chief executive officer now directly owns 214,507 shares of the company’s stock, valued at approximately $37,538,725. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other e.l.f. Beauty news, CEO Tarang Amin sold 548 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $175.00, for a total value of $95,900.00. Following the completion of the sale, the chief executive officer now directly owns 214,507 shares in the company, valued at approximately $37,538,725. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Joshua Allen Franks sold 3,370 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $201.28, for a total value of $678,313.60. Following the completion of the sale, the senior vice president now directly owns 71,986 shares of the company’s stock, valued at $14,489,342.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,376 shares of company stock worth $5,869,963. 5.20% of the stock is owned by insiders.

e.l.f. Beauty Stock Performance

Shares of NYSE:ELF opened at $140.24 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10. e.l.f. Beauty, Inc. has a 1 year low of $88.47 and a 1 year high of $221.83. The firm has a market capitalization of $7.84 billion, a PE ratio of 63.17, a P/E/G ratio of 3.12 and a beta of 1.46. The business’s 50 day moving average price is $176.55 and its 200-day moving average price is $181.22.

e.l.f. Beauty (NYSE:ELF) last announced its earnings results on Thursday, August 8th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.20. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. The company had revenue of $324.48 million for the quarter, compared to analysts’ expectations of $303.60 million. As a group, equities research analysts expect that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ELF. Canaccord Genuity Group boosted their target price on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Piper Sandler restated an “overweight” rating and issued a $260.00 target price on shares of e.l.f. Beauty in a research note on Monday, August 26th. Raymond James reiterated a “strong-buy” rating and set a $235.00 price target on shares of e.l.f. Beauty in a research report on Monday, July 22nd. Canaccord Genuity Group boosted their price target on e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, Stifel Nicolaus raised their price objective on shares of e.l.f. Beauty from $151.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, e.l.f. Beauty has an average rating of “Moderate Buy” and an average target price of $216.43.

About e.l.f. Beauty

e.l.f. Beauty, Inc, together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide. The company offers eye, lip, face, face, paw, and skin care products. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce platforms in the United States, and internationally primarily through distributors.