e.l.f. Beauty, Inc. (NYSE:ELF – Get Rating) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,690,000 shares, a decline of 22.1% from the November 15th total of 2,170,000 shares. Based on an average daily volume of 683,200 shares, the days-to-cover ratio is currently 2.5 days. Approximately 3.4% of the company's shares are sold short.
Insider Buying and Selling at e.l.f. Beauty
In other e.l.f. Beauty news, CEO Tarang Amin sold 100,000 shares of the business's stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $46.01, for a total value of $4,601,000.00. Following the transaction, the chief executive officer now directly owns 347,496 shares in the company, valued at approximately $15,988,290.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other e.l.f. Beauty news, CEO Tarang Amin sold 100,000 shares of the business's stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $46.01, for a total value of $4,601,000.00. Following the transaction, the chief executive officer now directly owns 347,496 shares in the company, valued at approximately $15,988,290.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joshua Allen Franks sold 1,957 shares of the business's stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $42.24, for a total transaction of $82,663.68. Following the completion of the transaction, the senior vice president now owns 114,277 shares in the company, valued at $4,827,060.48. The disclosure for this sale can be found here. Insiders have sold 149,203 shares of company stock worth $6,538,360 in the last ninety days. 8.20% of the stock is owned by insiders.
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Institutional Trading of e.l.f. Beauty
Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in e.l.f. Beauty by 17.0% during the 3rd quarter. BlackRock Inc. now owns 8,521,428 shares of the company's stock worth $320,575,000 after acquiring an additional 1,236,043 shares in the last quarter. Wellington Management Group LLP increased its position in shares of e.l.f. Beauty by 3,885.5% during the first quarter. Wellington Management Group LLP now owns 812,015 shares of the company's stock worth $20,974,000 after purchasing an additional 791,641 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of e.l.f. Beauty by 169.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 843,708 shares of the company's stock valued at $25,885,000 after purchasing an additional 530,838 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of e.l.f. Beauty by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,147,304 shares of the company's stock valued at $231,262,000 after purchasing an additional 504,690 shares during the period. Finally, Jennison Associates LLC grew its stake in e.l.f. Beauty by 31.8% during the 1st quarter. Jennison Associates LLC now owns 1,700,489 shares of the company's stock worth $43,924,000 after buying an additional 410,754 shares during the last quarter. Hedge funds and other institutional investors own 94.61% of the company's stock.
Wall Street Analyst Weigh In
ELF has been the topic of a number of research analyst reports. Bank of America initiated coverage on shares of e.l.f. Beauty in a research note on Wednesday, September 14th. They issued a "buy" rating and a $45.00 price target on the stock. Canaccord Genuity Group initiated coverage on shares of e.l.f. Beauty in a research note on Thursday, November 17th. They issued a "buy" rating and a $63.00 price target on the stock. DA Davidson boosted their price target on shares of e.l.f. Beauty from $44.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, November 3rd. Morgan Stanley boosted their price target on shares of e.l.f. Beauty from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, November 3rd. Finally, Truist Financial upped their target price on shares of e.l.f. Beauty from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, September 15th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.10.
e.l.f. Beauty Stock Performance
NYSE:ELF opened at $55.50 on Friday. The firm has a market capitalization of $2.94 billion, a PE ratio of 88.10, a price-to-earnings-growth ratio of 4.06 and a beta of 1.57. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.44 and a quick ratio of 2.31. The business's fifty day moving average price is $48.73 and its 200 day moving average price is $39.01. e.l.f. Beauty has a 12 month low of $20.49 and a 12 month high of $56.92.
e.l.f. Beauty (NYSE:ELF – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.12. The business had revenue of $122.35 million for the quarter, compared to the consensus estimate of $106.29 million. e.l.f. Beauty had a return on equity of 11.83% and a net margin of 7.57%. On average, sell-side analysts anticipate that e.l.f. Beauty will post 0.77 earnings per share for the current fiscal year.
e.l.f. Beauty Company Profile
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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.
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