Primecap Management Co. CA Makes New $34.92 Million Investment in e.l.f. Beauty, Inc. (NYSE:ELF)

Primecap Management Co. CA purchased a new stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 320,255 shares of the company’s stock, valued at approximately $34,917,000. Primecap Management Co. CA owned about 0.57% of e.l.f. Beauty as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Picton Mahoney Asset Management grew its stake in shares of e.l.f. Beauty by 3.2% in the 2nd quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock valued at $512,000 after buying an additional 75 shares during the period. Hanseatic Management Services Inc. increased its stake in e.l.f. Beauty by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock valued at $950,000 after buying an additional 77 shares during the last quarter. Portside Wealth Group LLC increased its position in shares of e.l.f. Beauty by 3.2% during the second quarter. Portside Wealth Group LLC now owns 2,982 shares of the company’s stock valued at $628,000 after acquiring an additional 93 shares during the last quarter. GAMMA Investing LLC lifted its holdings in e.l.f. Beauty by 27.8% during the second quarter. GAMMA Investing LLC now owns 451 shares of the company’s stock worth $95,000 after acquiring an additional 98 shares during the period. Finally, Evergreen Capital Management LLC boosted its position in e.l.f. Beauty by 2.1% in the second quarter. Evergreen Capital Management LLC now owns 4,777 shares of the company’s stock worth $1,007,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Trading Up 2.7 %

NYSE ELF opened at $122.25 on Friday. The firm has a market cap of $6.89 billion, a PE ratio of 66.08, a price-to-earnings-growth ratio of 2.67 and a beta of 1.44. e.l.f. Beauty, Inc. has a 1-year low of $98.50 and a 1-year high of $221.83. The stock has a 50-day moving average of $112.04 and a 200-day moving average of $153.08. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $301.10 million during the quarter, compared to analyst estimates of $289.43 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was up 39.7% compared to the same quarter last year. As a group, sell-side analysts forecast that e.l.f. Beauty, Inc. will post 2.8 EPS for the current year.

Insiders Place Their Bets

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 106,016 shares in the company, valued at approximately $14,465,883.20. This represents a 18.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ELF shares. DA Davidson cut their price target on shares of e.l.f. Beauty from $223.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. UBS Group reduced their price objective on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, August 9th. Piper Sandler restated an “overweight” rating and set a $165.00 price target (up from $162.00) on shares of e.l.f. Beauty in a research note on Thursday, November 7th. Jefferies Financial Group cut their price objective on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group decreased their target price on shares of e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.53.

About e.l.f. Beauty

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.