nVerses Capital LLC Makes New $44,000 Investment in e.l.f. Beauty, Inc. (NYSE:ELF)

nVerses Capital LLC bought a new position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 400 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Picton Mahoney Asset Management lifted its holdings in e.l.f. Beauty by 3.2% during the second quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock worth $512,000 after acquiring an additional 75 shares during the period. Hanseatic Management Services Inc. boosted its holdings in shares of e.l.f. Beauty by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock worth $950,000 after buying an additional 77 shares during the last quarter. Guardian Asset Advisors LLC grew its position in e.l.f. Beauty by 6.5% during the first quarter. Guardian Asset Advisors LLC now owns 1,485 shares of the company’s stock valued at $291,000 after buying an additional 90 shares during the period. Portside Wealth Group LLC increased its holdings in e.l.f. Beauty by 3.2% during the second quarter. Portside Wealth Group LLC now owns 2,982 shares of the company’s stock worth $628,000 after buying an additional 93 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in e.l.f. Beauty by 27.8% in the second quarter. GAMMA Investing LLC now owns 451 shares of the company’s stock worth $95,000 after acquiring an additional 98 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the completion of the sale, the chief executive officer now owns 106,016 shares in the company, valued at approximately $14,465,883.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ELF shares. Piper Sandler reduced their target price on shares of e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Robert W. Baird decreased their target price on e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday. Raymond James reaffirmed 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. JPMorgan Chase & Co. decreased their price objective on e.l.f. Beauty from $207.00 to $167.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Bank of America dropped their price objective on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, e.l.f. Beauty presently has an average rating of “Moderate Buy” and an average price target of $186.57.

e.l.f. Beauty Price Performance

ELF stock opened at $106.65 on Wednesday. The firm has a 50 day moving average of $125.22 and a 200-day moving average of $160.89. The firm has a market capitalization of $5.97 billion, a P/E ratio of 48.04, a price-to-earnings-growth ratio of 2.19 and a beta of 1.43. e.l.f. Beauty, Inc. has a 12 month low of $88.47 and a 12 month high of $221.83. The company has a current ratio of 1.77, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results 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 net margin of 10.80% and a return on equity of 23.30%. The firm had revenue of $324.48 million during the quarter, compared to analyst estimates of $303.60 million. As a group, sell-side analysts predict that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current fiscal year.

e.l.f. Beauty 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.