Readystate Asset Management LP Invests $1.52 Million in e.l.f. Beauty, Inc. (NYSE:ELF)

Readystate Asset Management LP acquired a new position in e.l.f. Beauty, Inc. (NYSE:ELF) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 10,513 shares of the company’s stock, valued at approximately $1,517,000.

Several other hedge funds also recently made changes to their positions in the business. First Trust Direct Indexing L.P. increased its position in shares of e.l.f. Beauty by 3.2% in the fourth quarter. First Trust Direct Indexing L.P. now owns 2,106 shares of the company’s stock worth $304,000 after acquiring an additional 65 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of e.l.f. Beauty by 0.3% in the fourth quarter. State of Alaska Department of Revenue now owns 33,993 shares of the company’s stock worth $4,906,000 after acquiring an additional 85 shares in the last quarter. American International Group Inc. increased its position in shares of e.l.f. Beauty by 0.3% in the fourth quarter. American International Group Inc. now owns 29,435 shares of the company’s stock worth $4,249,000 after acquiring an additional 90 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of e.l.f. Beauty by 38.0% in the fourth quarter. First Horizon Advisors Inc. now owns 338 shares of the company’s stock worth $49,000 after acquiring an additional 93 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of e.l.f. Beauty by 4.4% in the fourth quarter. Corient Private Wealth LLC now owns 2,259 shares of the company’s stock worth $326,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ELF shares. Morgan Stanley raised their price target on shares of e.l.f. Beauty from $168.00 to $184.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Truist Financial raised their price target on shares of e.l.f. Beauty from $150.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Robert W. Baird started coverage on shares of e.l.f. Beauty in a report on Tuesday, January 30th. They set a “neutral” rating and a $185.00 price target for the company. Raymond James raised their price target on shares of e.l.f. Beauty from $140.00 to $180.00 and gave the stock a “strong-buy” rating in a report on Monday, January 22nd. Finally, Stifel Nicolaus raised their price target on shares of e.l.f. Beauty from $141.00 to $167.00 and gave the stock a “hold” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, e.l.f. Beauty presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.33.

e.l.f. Beauty Stock Performance

ELF stock traded up $0.58 on Wednesday, reaching $166.26. 1,728,187 shares of the company were exchanged, compared to its average volume of 1,540,140. e.l.f. Beauty, Inc. has a 12 month low of $83.80 and a 12 month high of $221.83. The stock’s fifty day moving average price is $186.70 and its 200 day moving average price is $148.43. The firm has a market capitalization of $9.23 billion, a PE ratio of 73.57, a PEG ratio of 1.52 and a beta of 1.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.50 and a quick ratio of 0.83.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.11. The firm had revenue of $270.94 million for 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, research analysts anticipate that e.l.f. Beauty, Inc. will post 2.5 EPS for the current fiscal year.

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

In other news, SVP Joshua Allen Franks sold 727 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $165.16, for a total value of $120,071.32. Following the sale, the senior vice president now owns 83,736 shares in the company, valued at approximately $13,829,837.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $4,677,693.91. Following the sale, the chief executive officer now owns 10,889 shares in the company, valued at approximately $2,165,713.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joshua Allen Franks sold 727 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $165.16, for a total transaction of $120,071.32. Following the completion of the sale, the senior vice president now owns 83,736 shares in the company, valued at approximately $13,829,837.76. The disclosure for this sale can be found here. Insiders own 5.20% 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.