Townsquare Capital LLC Increases Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Townsquare Capital LLC raised its stake in e.l.f. Beauty, Inc. (NYSE:ELF) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,319 shares of the company’s stock after purchasing an additional 3,110 shares during the quarter. Townsquare Capital LLC owned about 0.07% of e.l.f. Beauty worth $4,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at about $26,000. Matrix Trust Co purchased a new stake in shares of e.l.f. Beauty during the second quarter valued at approximately $27,000. Innealta Capital LLC acquired a new position in shares of e.l.f. Beauty during the second quarter worth $30,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of e.l.f. Beauty by 405.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock valued at $36,000 after purchasing an additional 138 shares during the period. Finally, Crewe Advisors LLC grew its holdings in e.l.f. Beauty by 456.3% during the 2nd quarter. Crewe Advisors LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $136.45, for a total value of $3,210,395.60. Following the sale, the chief executive officer now directly owns 106,016 shares in the company, valued at $14,465,883.20. This trade represents a 18.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ELF. Bank of America decreased their price objective on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Robert W. Baird reduced their price target on e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, October 21st. JPMorgan Chase & Co. dropped their price objective on 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. TD Cowen reduced their target price on e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Finally, Truist Financial dropped their price target on shares of e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.53.

e.l.f. Beauty Stock Performance

Shares of ELF stock opened at $127.15 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 business has a 50 day moving average of $113.32 and a two-hundred day moving average of $151.76. The company has a market cap of $7.16 billion, a P/E ratio of 68.73, a PEG ratio of 2.85 and a beta of 1.44. e.l.f. Beauty, Inc. has a 52 week low of $98.50 and a 52 week high of $221.83.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The firm had revenue of $301.10 million during the quarter, compared to the consensus estimate of $289.43 million. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The firm’s revenue was up 39.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. As a group, analysts anticipate that e.l.f. Beauty, Inc. will post 2.8 EPS for the current year.

e.l.f. Beauty 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.