1,000 Shares in e.l.f. Beauty, Inc. (NYSE:ELF) Purchased by Optimum Investment Advisors

Posted by Defense World Staff on Mar 18th, 2023

Optimum Investment Advisors acquired a new position in shares of e.l.f. Beauty, Inc. (NYSE:ELF – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,000 shares of the company’s stock, valued at approximately $55,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its position in e.l.f. Beauty by 4.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 16,532 shares of the company’s stock worth $622,000 after purchasing an additional 754 shares during the last quarter. Quantbot Technologies LP boosted its stake in e.l.f. Beauty by 260.1% during the third quarter. Quantbot Technologies LP now owns 30,350 shares of the company’s stock worth $1,141,000 after buying an additional 21,922 shares during the period. Verition Fund Management LLC purchased a new position in e.l.f. Beauty during the second quarter worth about $744,000. Teza Capital Management LLC boosted its stake in e.l.f. Beauty by 108.6% during the third quarter. Teza Capital Management LLC now owns 14,962 shares of the company’s stock worth $563,000 after buying an additional 7,791 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in e.l.f. Beauty by 2.1% during the second quarter. Thrivent Financial for Lutherans now owns 1,005,519 shares of the company’s stock worth $30,849,000 after buying an additional 20,600 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ELF has been the subject of several research analyst reports. Cowen increased their target price on shares of e.l.f. Beauty from $36.00 to $70.00 and gave the stock a “market perform” rating in a research note on Thursday, February 16th. Morgan Stanley increased their target price on shares of e.l.f. Beauty from $64.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 2nd. Canaccord Genuity Group raised their price objective on shares of e.l.f. Beauty from $63.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Jefferies Financial Group downgraded shares of e.l.f. Beauty from a “buy” rating to a “hold” rating and set a $55.00 price target for the company. in a research note on Monday, January 9th. Finally, StockNews.com started coverage on shares of e.l.f. Beauty in a research note on Thursday. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.75.

Insider Activity

In related news, CEO Tarang Amin sold 39,740 shares of e.l.f. Beauty stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $55.56, for a total value of $2,207,954.40. Following the transaction, the chief executive officer now directly owns 347,496 shares in the company, valued at approximately $19,306,877.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Tarang Amin sold 39,740 shares of e.l.f. Beauty stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $55.56, for a total value of $2,207,954.40. Following the transaction, the chief executive officer now directly owns 347,496 shares in the company, valued at approximately $19,306,877.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kory Marchisotto sold 28,775 shares of e.l.f. Beauty stock in a transaction on Monday, March 13th. The shares were sold at an average price of $69.82, for a total transaction of $2,009,070.50. Following the completion of the transaction, the insider now owns 143,885 shares in the company, valued at $10,046,050.70. The disclosure for this sale can be found here. Insiders have sold 311,195 shares of company stock valued at $20,604,238 in the last ninety days. 8.20% of the stock is currently owned by company insiders.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock opened at $72.47 on Friday. The firm’s fifty day simple moving average is $66.09 and its 200-day simple moving average is $53.54. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 85.26, a PEG ratio of 2.20 and a beta of 1.49. e.l.f. Beauty, Inc. has a 12 month low of $20.49 and a 12 month high of $76.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.00 and a quick ratio of 2.08.

e.l.f. Beauty (NYSE:ELF – Get Rating) last announced its earnings results on Wednesday, February 1st. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.21. The business had revenue of $146.54 million for the quarter, compared to analysts’ expectations of $121.82 million. e.l.f. Beauty had a net margin of 9.43% and a return on equity of 15.00%. As a group, equities analysts forecast that e.l.f. Beauty, Inc. will post 1.03 earnings per share for the current year.

About e.l.f. Beauty

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e.l.f. Beauty, Inc operates as a holding company, which engages in the provision of cosmetic 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. The company was founded in 2004 and is headquartered in Oakland, CA.