Verition Fund Management LLC Purchases 51,235 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Verition Fund Management LLC raised its position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 46.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,627 shares of the company’s stock after acquiring an additional 51,235 shares during the period. Verition Fund Management LLC’s holdings in e.l.f. Beauty were worth $17,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ELF. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of e.l.f. Beauty by 2.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 192,221 shares of the company’s stock valued at $20,958,000 after acquiring an additional 4,434 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in e.l.f. Beauty by 5.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,589 shares of the company’s stock valued at $1,482,000 after purchasing an additional 762 shares during the last quarter. FORA Capital LLC bought a new stake in e.l.f. Beauty in the 3rd quarter valued at $3,372,000. Blueshift Asset Management LLC acquired a new stake in e.l.f. Beauty in the 3rd quarter worth $514,000. Finally, Freedom Investment Management Inc. increased its holdings in shares of e.l.f. Beauty by 66.6% during the 3rd quarter. Freedom Investment Management Inc. now owns 8,284 shares of the company’s stock worth $903,000 after purchasing an additional 3,312 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

e.l.f. Beauty Price Performance

NYSE:ELF opened at $129.61 on Friday. 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 firm has a market cap of $7.30 billion, a PE ratio of 70.06, a price-to-earnings-growth ratio of 2.79 and a beta of 1.44. e.l.f. Beauty, Inc. has a 12 month low of $98.50 and a 12 month high of $221.83. The company’s 50-day moving average price is $113.65 and its two-hundred day moving average price is $151.54.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ELF. Truist Financial decreased their target price on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Robert W. Baird reduced their price objective 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, October 21st. Piper Sandler restated an “overweight” rating and set a $165.00 price objective (up from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. Morgan Stanley reduced their target price on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. lowered their price target on shares of e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $173.53.

Insiders Place Their Bets

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the business’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 of the company’s stock, valued at approximately $14,465,883.20. The trade was a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.50% 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.