Victory Capital Management Inc. Reduces Stock Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Victory Capital Management Inc. reduced its stake in e.l.f. Beauty, Inc. (NYSE:ELF) by 32.1% in the third quarter, Holdings Channel.com reports. The fund owned 10,569 shares of the company’s stock after selling 4,996 shares during the period. Victory Capital Management Inc.’s holdings in e.l.f. Beauty were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new position in e.l.f. Beauty during the 2nd quarter valued at about $26,000. Matrix Trust Co purchased a new position in e.l.f. Beauty during the second quarter valued at approximately $27,000. Innealta Capital LLC bought a new stake in e.l.f. Beauty during the 2nd quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. lifted its stake in 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 worth $36,000 after purchasing an additional 138 shares in the last quarter. Finally, Crewe Advisors LLC boosted its holdings in e.l.f. Beauty by 456.3% in the 2nd quarter. Crewe Advisors LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 146 shares during the period. 92.44% of the stock is currently owned by institutional investors.

e.l.f. Beauty Price Performance

Shares of NYSE:ELF opened at $124.34 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. The stock has a market cap of $7.00 billion, a PE ratio of 67.21, a PEG ratio of 2.77 and a beta of 1.44. The company’s fifty day moving average is $112.82 and its 200 day moving average is $152.11. e.l.f. Beauty, Inc. has a 52 week low of $98.50 and a 52 week high of $221.83.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.43 by $0.34. The firm had revenue of $301.10 million for the quarter, compared to the consensus estimate of $289.43 million. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The company’s quarterly revenue was up 39.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. Research analysts anticipate that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ELF. JPMorgan Chase & Co. lowered their price objective on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Truist Financial dropped their price target on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. UBS Group decreased their price objective 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. TD Cowen dropped their target price on shares of e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, Stifel Nicolaus decreased their price target on shares of e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $173.53.

Insider Buying and Selling at e.l.f. Beauty

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 106,016 shares of the company’s stock, valued at $14,465,883.20. This trade represents a 18.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.50% of the company’s stock.

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.