Wedge Capital Management L L P NC Raises Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

Wedge Capital Management L L P NC raised its position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 15.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,816 shares of the company’s stock after purchasing an additional 1,720 shares during the period. Wedge Capital Management L L P NC’s holdings in e.l.f. Beauty were worth $1,850,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ELF. Wellington Management Group LLP lifted its holdings in e.l.f. Beauty by 235.8% during the third quarter. Wellington Management Group LLP now owns 2,414,601 shares of the company’s stock valued at $265,196,000 after purchasing an additional 1,695,585 shares in the last quarter. FMR LLC raised its position in shares of e.l.f. Beauty by 641.2% during the third quarter. FMR LLC now owns 832,404 shares of the company’s stock valued at $91,423,000 after buying an additional 720,098 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of e.l.f. Beauty by 58.2% during the third quarter. William Blair Investment Management LLC now owns 1,424,268 shares of the company’s stock valued at $156,427,000 after buying an additional 523,903 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of e.l.f. Beauty by 152.6% during the third quarter. Lord Abbett & CO. LLC now owns 421,219 shares of the company’s stock valued at $46,262,000 after buying an additional 254,469 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of e.l.f. Beauty by 52.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 607,359 shares of the company’s stock valued at $66,706,000 after buying an additional 208,263 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Activity

In other news, CEO Tarang Amin sold 23,519 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total transaction of $4,677,693.91. Following the completion of the sale, the chief executive officer now directly owns 10,889 shares of the company’s stock, valued at $2,165,713.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Kory Marchisotto sold 29,408 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $166.40, for a total value of $4,893,491.20. Following the completion of the sale, the insider now directly owns 156,969 shares of the company’s stock, valued at $26,119,641.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tarang Amin sold 23,519 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $198.89, for a total transaction of $4,677,693.91. Following the completion of the sale, the chief executive officer now directly owns 10,889 shares of the company’s stock, valued at $2,165,713.21. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,325 shares of company stock valued at $28,081,154. 5.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ELF. DA Davidson reiterated a “buy” rating and set a $220.00 price objective on shares of e.l.f. Beauty in a research report on Monday, April 8th. TD Cowen upgraded shares of e.l.f. Beauty from a “hold” rating to a “buy” rating and reduced their price objective for the company from $220.00 to $190.00 in a research report on Wednesday, April 17th. Raymond James lifted their price objective on shares of e.l.f. Beauty from $140.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Monday, January 22nd. Piper Sandler boosted their price target on shares of e.l.f. Beauty from $225.00 to $228.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Finally, Bank of America boosted their price target on shares of e.l.f. Beauty from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and an average price target of $184.33.

e.l.f. Beauty Stock Up 0.0 %

NYSE ELF opened at $177.03 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.50 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $186.44 and a two-hundred day moving average of $150.79. The firm has a market capitalization of $9.83 billion, a price-to-earnings ratio of 78.33, a PEG ratio of 1.66 and a beta of 1.57. e.l.f. Beauty, Inc. has a 52 week low of $83.80 and a 52 week high of $221.83.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. The company had revenue of $270.94 million during the quarter, compared to analyst estimates of $239.66 million. e.l.f. Beauty had a net margin of 14.53% and a return on equity of 28.98%. On average, analysts predict that e.l.f. Beauty, Inc. will post 2.5 earnings per share for the current year.

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.