e.l.f. Beauty, Inc. (NYSE:ELF) Short Interest Down 8.0% in June

e.l.f. Beauty, Inc. (NYSE:ELF) saw a significant decrease in short interest in June. As of June 15th, there was short interest totalling 3,450,000 shares, a decrease of 8.0% from the May 31st total of 3,750,000 shares. Based on an average trading volume of 1,580,000 shares, the short-interest ratio is presently 2.2 days.

e.l.f. Beauty Stock Performance

Shares of ELF stock traded down $2.24 during midday trading on Wednesday, hitting $201.99. 580,303 shares of the company were exchanged, compared to its average volume of 1,591,870. e.l.f. Beauty has a 52 week low of $88.47 and a 52 week high of $221.83. The firm has a market capitalization of $11.30 billion, a P/E ratio of 90.99, a PEG ratio of 5.34 and a beta of 1.46. The firm’s 50 day moving average price is $183.54 and its two-hundred day moving average price is $176.03. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.95 and a current ratio of 1.60.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. e.l.f. Beauty had a return on equity of 26.64% and a net margin of 12.47%. The company had revenue of $321.14 million during the quarter, compared to analysts’ expectations of $292.47 million. As a group, equities research analysts anticipate that e.l.f. Beauty will post 2.85 earnings per share for the current year.

Insider Transactions at e.l.f. Beauty

In related news, SVP Joshua Allen Franks sold 727 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $165.16, for a total value of $120,071.32. Following the sale, the senior vice president now directly owns 83,736 shares of the company’s stock, valued at approximately $13,829,837.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Joshua Allen Franks sold 727 shares of e.l.f. Beauty stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $165.16, for a total value of $120,071.32. Following the sale, the senior vice president now owns 83,736 shares of the company’s stock, valued at approximately $13,829,837.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Catherine Hartnett sold 9,808 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total value of $1,814,087.68. Following the transaction, the insider now directly owns 61,647 shares of the company’s stock, valued at approximately $11,402,229.12. The disclosure for this sale can be found here. Insiders sold 256,167 shares of company stock valued at $44,029,811 over the last quarter. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELF. Guidance Capital Inc. boosted its position in shares of e.l.f. Beauty by 1.6% in the fourth quarter. Guidance Capital Inc. now owns 3,510 shares of the company’s stock valued at $490,000 after acquiring an additional 56 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in e.l.f. Beauty by 3.2% in the 4th quarter. First Trust Direct Indexing L.P. now owns 2,106 shares of the company’s stock valued at $304,000 after purchasing an additional 65 shares during the period. State of Alaska Department of Revenue grew its position in shares of e.l.f. Beauty by 0.3% during the 4th quarter. State of Alaska Department of Revenue now owns 33,993 shares of the company’s stock worth $4,906,000 after purchasing an additional 85 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of e.l.f. Beauty by 33.2% during the first quarter. GAMMA Investing LLC now owns 353 shares of the company’s stock worth $69,000 after purchasing an additional 88 shares during the period. Finally, American International Group Inc. raised its position in shares of e.l.f. Beauty by 0.3% in the fourth quarter. American International Group Inc. now owns 29,435 shares of the company’s stock valued at $4,249,000 after buying an additional 90 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELF has been the topic of several recent research reports. Truist Financial lifted their price target on shares of e.l.f. Beauty from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. TD Cowen upped their target price on e.l.f. Beauty from $190.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. JPMorgan Chase & Co. decreased their price target on e.l.f. Beauty from $197.00 to $182.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Bank of America dropped their price objective on e.l.f. Beauty from $230.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, DA Davidson reissued a “buy” rating and issued a $220.00 price objective on shares of e.l.f. Beauty in a report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, e.l.f. Beauty presently has a consensus rating of “Moderate Buy” and an average target price of $198.93.

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.