Royal Fund Management LLC Makes New $2.03 Million Investment in e.l.f. Beauty, Inc. (NYSE:ELF)

Royal Fund Management LLC bought a new stake in e.l.f. Beauty, Inc. (NYSE:ELF) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,600 shares of the company’s stock, valued at approximately $2,028,000.

A number of other large investors also recently made changes to their positions in the business. Fulton Bank N.A. grew its position in e.l.f. Beauty by 1.7% during the third quarter. Fulton Bank N.A. now owns 8,222 shares of the company’s stock valued at $896,000 after purchasing an additional 139 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of e.l.f. Beauty during the 3rd quarter valued at $781,000. Handelsbanken Fonder AB grew its holdings in shares of e.l.f. Beauty by 18.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 14,600 shares of the company’s stock valued at $1,592,000 after acquiring an additional 2,300 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of e.l.f. Beauty by 41.2% during the 3rd quarter. Park Avenue Securities LLC now owns 7,377 shares of the company’s stock valued at $804,000 after acquiring an additional 2,151 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of e.l.f. Beauty in the second quarter worth $6,237,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

ELF has been the subject of a number of research reports. Baird R W raised e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 18th. Morgan Stanley reduced their price target on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Piper Sandler lowered their price target on e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Canaccord Genuity Group raised their price objective 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of e.l.f. Beauty from $224.00 to $207.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.57.

e.l.f. Beauty Stock Performance

NYSE:ELF traded up $1.72 during midday trading on Wednesday, reaching $105.73. The stock had a trading volume of 227,399 shares, compared to its average volume of 1,782,145. The stock has a market capitalization of $5.91 billion, a P/E ratio of 46.86, a PEG ratio of 2.33 and a beta of 1.43. e.l.f. Beauty, Inc. has a 1-year low of $88.47 and a 1-year high of $221.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10. The firm’s fifty day simple moving average is $138.51 and its 200-day simple moving average is $166.97.

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

Insiders Place Their Bets

In other news, SVP Joshua Allen Franks sold 3,370 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $201.28, for a total transaction of $678,313.60. Following the completion of the transaction, the senior vice president now directly owns 71,986 shares in the company, valued at $14,489,342.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Joshua Allen Franks sold 3,370 shares of the business’s stock in a transaction dated 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 owns 71,986 shares in the company, valued at approximately $14,489,342.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the chief executive officer now directly owns 106,016 shares of the company’s stock, valued at $14,465,883.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,446 shares of company stock valued at $3,984,609 in the last three months. Company insiders own 5.20% of the company’s stock.

e.l.f. Beauty Company Profile

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.