M&T Bank Corp Boosts Position in e.l.f. Beauty, Inc. (NYSE:ELF)

M&T Bank Corp raised its stake in e.l.f. Beauty, Inc. (NYSE:ELF) by 12.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,161 shares of the company’s stock after buying an additional 1,004 shares during the period. M&T Bank Corp’s holdings in e.l.f. Beauty were worth $999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its stake in shares of e.l.f. Beauty by 8.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 28,941 shares of the company’s stock valued at $3,155,000 after acquiring an additional 2,167 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in e.l.f. Beauty during the 3rd quarter worth $1,019,000. MML Investors Services LLC raised its position in e.l.f. Beauty by 54.4% during the 3rd quarter. MML Investors Services LLC now owns 22,324 shares of the company’s stock valued at $2,434,000 after purchasing an additional 7,865 shares in the last quarter. Hodges Capital Management Inc. purchased a new stake in shares of e.l.f. Beauty in the 3rd quarter worth $6,078,000. Finally, Orion Portfolio Solutions LLC grew its position in shares of e.l.f. Beauty by 19.0% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,812 shares of the company’s stock worth $743,000 after buying an additional 1,090 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ELF. DA Davidson restated a “buy” rating and issued a $170.00 price objective on shares of e.l.f. Beauty in a report on Wednesday, December 11th. Bank of America reduced their price target on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Piper Sandler reiterated an “overweight” rating and set a $165.00 price objective (up from $162.00) on shares of e.l.f. Beauty in a research note on Thursday, November 7th. Truist Financial reduced their price objective 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. Finally, Robert W. Baird dropped their target price on e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, e.l.f. Beauty presently has an average rating of “Moderate Buy” and a consensus target price of $170.65.

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

In other e.l.f. Beauty news, insider Scott Milsten sold 530 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $137.60, for a total transaction of $72,928.00. Following the sale, the insider now owns 68,853 shares in the company, valued at approximately $9,474,172.80. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maureen C. Watson sold 785 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $130.00, for a total value of $102,050.00. Following the completion of the transaction, the director now owns 1,888 shares of the company’s stock, valued at approximately $245,440. The trade was a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,205 shares of company stock worth $297,442. 3.50% of the stock is owned by corporate insiders.

e.l.f. Beauty Stock Up 6.9 %

Shares of ELF stock opened at $140.63 on Monday. The stock’s fifty day moving average price is $118.97 and its 200 day moving average price is $148.68. e.l.f. Beauty, Inc. has a 1-year low of $98.50 and a 1-year high of $221.83. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 76.02, a price-to-earnings-growth ratio of 3.03 and a beta of 1.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The business had revenue of $301.10 million for the quarter, compared to analyst estimates of $289.43 million. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The company’s revenue was up 39.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share. On average, research analysts expect that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current fiscal year.

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.