Zacks Investment Management Trims Stock Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Zacks Investment Management trimmed its holdings in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 15.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,089 shares of the company’s stock after selling 17,279 shares during the period. Zacks Investment Management owned about 0.17% of e.l.f. Beauty worth $11,938,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in e.l.f. Beauty during the third quarter worth $25,000. Nemes Rush Group LLC acquired a new position in e.l.f. Beauty in the 4th quarter valued at about $27,000. Promus Capital LLC purchased a new position in e.l.f. Beauty in the 4th quarter valued at about $31,000. Kestra Investment Management LLC purchased a new stake in shares of e.l.f. Beauty during the fourth quarter worth about $32,000. Finally, Financial Life Planners acquired a new position in shares of e.l.f. Beauty in the fourth quarter valued at approximately $46,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on ELF shares. B. Riley reaffirmed a “buy” rating and issued a $90.00 target price (down from $150.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Piper Sandler lowered their price target on e.l.f. Beauty from $102.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Truist Financial raised their target price on shares of e.l.f. Beauty from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Raymond James dropped their price target on shares of e.l.f. Beauty from $175.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Friday, February 7th. Finally, Canaccord Genuity Group decreased their price target on shares of e.l.f. Beauty from $174.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.76.

Insiders Place Their Bets

In other news, Director Maureen C. Watson sold 4,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $67.39, for a total transaction of $269,560.00. Following the completion of the transaction, the director now owns 1,888 shares of the company’s stock, valued at approximately $127,232.32. The trade was a 67.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.50% of the stock is currently owned by corporate insiders.

e.l.f. Beauty Price Performance

ELF stock opened at $50.11 on Thursday. The company has a market capitalization of $2.83 billion, a PE ratio of 29.65, a P/E/G ratio of 6.76 and a beta of 1.41. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $64.93 and its two-hundred day moving average is $99.98. e.l.f. Beauty, Inc. has a 52-week low of $49.40 and a 52-week high of $219.77.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Thursday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. Analysts predict that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current fiscal year.

e.l.f. Beauty Profile

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.