Dark Forest Capital Management LP Decreases Stock Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Dark Forest Capital Management LP reduced its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 68.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,680 shares of the company’s stock after selling 5,705 shares during the quarter. Dark Forest Capital Management LP’s holdings in e.l.f. Beauty were worth $565,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in e.l.f. Beauty in the second quarter valued at about $26,000. Matrix Trust Co purchased a new stake in e.l.f. Beauty in the second quarter valued at about $27,000. Innealta Capital LLC purchased a new stake in e.l.f. Beauty in the second quarter valued at about $30,000. Harbor Investment Advisory LLC purchased a new stake in e.l.f. Beauty in the first quarter valued at about $31,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in e.l.f. Beauty by 405.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock valued at $36,000 after buying an additional 138 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

e.l.f. Beauty Stock Up 1.1 %

e.l.f. Beauty stock opened at $112.59 on Friday. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 50.72, a price-to-earnings-growth ratio of 2.33 and a beta of 1.44. e.l.f. Beauty, Inc. has a 52 week low of $88.47 and a 52 week high of $221.83. The business’s 50-day moving average price is $148.09 and its 200 day moving average price is $171.97. The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 0.23.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. e.l.f. Beauty had a return on equity of 23.30% and a net margin of 10.80%. The business had revenue of $324.48 million during the quarter, compared to analysts’ expectations of $303.60 million. As a group, sell-side analysts anticipate that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on ELF. UBS Group decreased their price target on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Stifel Nicolaus increased their price objective on e.l.f. Beauty from $151.00 to $161.00 and gave the company a “hold” rating in a report on Monday, July 22nd. B. Riley began coverage on e.l.f. Beauty in a report on Tuesday, September 10th. They issued a “buy” rating and a $175.00 price objective on the stock. Bank of America cut their price objective on e.l.f. Beauty from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Finally, DA Davidson reissued a “buy” rating and issued a $223.00 price objective on shares of e.l.f. Beauty in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, e.l.f. Beauty presently has an average rating of “Moderate Buy” and an average price target of $198.80.

Insiders Place Their Bets

In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 3,370 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $201.28, for a total transaction of $678,313.60. Following the transaction, the senior vice president now directly owns 71,986 shares of the company’s stock, valued at $14,489,342.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other e.l.f. Beauty news, CEO Tarang Amin sold 548 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $95,900.00. Following the transaction, the chief executive officer now directly owns 214,507 shares of the company’s stock, valued at $37,538,725. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Joshua Allen Franks sold 3,370 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $201.28, for a total transaction of $678,313.60. Following the transaction, the senior vice president now directly owns 71,986 shares in the company, valued at $14,489,342.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,832 shares of company stock worth $7,074,887. Company insiders own 5.20% of the company’s stock.

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.