FORA Capital LLC Makes New $3.37 Million Investment in e.l.f. Beauty, Inc. (NYSE:ELF)

FORA Capital LLC acquired a new stake in e.l.f. Beauty, Inc. (NYSE:ELF) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 30,931 shares of the company’s stock, valued at approximately $3,372,000.

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

e.l.f. Beauty Stock Up 2.6 %

Shares of NYSE:ELF traded up $3.26 during midday trading on Wednesday, hitting $127.55. 321,244 shares of the stock were exchanged, compared to its average volume of 1,972,802. The business’s fifty day simple moving average is $112.82 and its two-hundred day simple moving average is $152.11. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78. e.l.f. Beauty, Inc. has a 52-week low of $98.50 and a 52-week high of $221.83. The company has a market capitalization of $7.18 billion, a PE ratio of 67.21, a P/E/G ratio of 2.85 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.43 by $0.34. The business had revenue of $301.10 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. As a group, research analysts predict that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ELF shares. Bank of America reduced their price objective on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Stifel Nicolaus decreased their price target on e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Jefferies Financial Group cut their price objective on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley decreased their target price on shares of e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a report on Monday, September 30th. Finally, Piper Sandler restated an “overweight” rating and set a $165.00 price target (up previously from $162.00) on shares of e.l.f. Beauty in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, e.l.f. Beauty currently has an average rating of “Moderate Buy” and an average target price of $173.53.

Insider Transactions at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the transaction, the chief executive officer now owns 106,016 shares in the company, valued at $14,465,883.20. This trade represents a 18.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.50% of the stock is currently owned by corporate insiders.

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.