Freedom Investment Management Inc. Sells 1,829 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Freedom Investment Management Inc. lowered its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 22.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,455 shares of the company’s stock after selling 1,829 shares during the period. Freedom Investment Management Inc.’s holdings in e.l.f. Beauty were worth $810,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new position in e.l.f. Beauty during the 3rd quarter worth about $25,000. Nemes Rush Group LLC acquired a new stake in e.l.f. Beauty in the 4th quarter valued at approximately $27,000. Promus Capital LLC bought a new stake in e.l.f. Beauty in the 4th quarter valued at approximately $31,000. Kestra Investment Management LLC acquired a new position in e.l.f. Beauty during the 4th quarter worth approximately $32,000. Finally, Financial Life Planners bought a new position in shares of e.l.f. Beauty during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ELF. B. Riley reaffirmed a “buy” rating and issued a $90.00 target price (down previously from $150.00) on shares of e.l.f. Beauty in a research report on Friday, February 7th. Piper Sandler reduced their price target on e.l.f. Beauty from $102.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Raymond James lowered their price target on e.l.f. Beauty from $120.00 to $85.00 and set a “strong-buy” rating on the stock in a research report on Thursday. Morgan Stanley reissued an “equal weight” rating and issued a $70.00 price objective (down previously from $153.00) on shares of e.l.f. Beauty in a report on Friday, February 7th. Finally, The Goldman Sachs Group lowered their target price on shares of e.l.f. Beauty from $142.00 to $124.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.82.

e.l.f. Beauty Stock Performance

NYSE ELF opened at $52.60 on Friday. The company has a market capitalization of $2.97 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 6.76 and a beta of 1.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.17 and a current ratio of 1.90. e.l.f. Beauty, Inc. has a 52-week low of $49.40 and a 52-week high of $219.77. The company has a 50-day simple moving average of $64.02 and a 200 day simple moving average of $99.18.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. On average, research analysts predict that e.l.f. Beauty, Inc. will post 2.38 EPS for the current year.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, Director Maureen C. Watson sold 4,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $67.39, for a total transaction of $269,560.00. Following the sale, the director now owns 1,888 shares in the company, valued at $127,232.32. This represents a 67.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.50% of the stock is currently owned by corporate insiders.

About e.l.f. Beauty

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.