Mercer Global Advisors Inc. ADV Cuts Stock Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Mercer Global Advisors Inc. ADV decreased its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 12.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,773 shares of the company’s stock after selling 395 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in e.l.f. Beauty were worth $584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of e.l.f. Beauty during the second quarter worth approximately $26,000. Matrix Trust Co purchased a new stake in e.l.f. Beauty during the second quarter valued at about $27,000. Innealta Capital LLC bought a new position in shares of e.l.f. Beauty during the second quarter valued at about $30,000. Harbor Investment Advisory LLC purchased a new position in shares of e.l.f. Beauty in the first quarter worth about $31,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of e.l.f. Beauty by 405.9% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock valued at $36,000 after acquiring an additional 138 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Up 1.1 %

e.l.f. Beauty stock opened at $112.59 on Friday. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 50.77, a PEG ratio of 2.33 and a beta of 1.44. The company has a current ratio of 1.77, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $148.09 and a two-hundred day moving average of $171.97. e.l.f. Beauty, Inc. has a twelve month low of $88.47 and a twelve month high of $221.83.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Thursday, August 8th. The company reported $0.87 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 analyst estimates of $303.60 million. As a group, research analysts expect that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 23,528 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the completion of the transaction, the chief executive officer now owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Joshua Allen Franks sold 3,370 shares of the 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 in the company, valued at approximately $14,489,342.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Tarang Amin sold 23,528 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the completion of the transaction, the chief executive officer now directly owns 106,016 shares in the company, valued at $14,465,883.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,832 shares of company stock worth $7,074,887. Insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ELF shares. Baird R W raised shares of e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 18th. DA Davidson restated a “buy” rating and issued a $223.00 target price on shares of e.l.f. Beauty in a research note on Wednesday, September 18th. Piper Sandler reduced their target price on shares of e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Canaccord Genuity Group lifted their price objective on e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Finally, UBS Group decreased their price target on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $198.80.

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.