Wesbanco Bank Inc. Makes New Investment in e.l.f. Beauty, Inc. (NYSE:ELF)

Posted by Defense World Staff on Mar 28th, 2023

Wesbanco Bank Inc. purchased a new position in shares of e.l.f. Beauty, Inc. (NYSE:ELF – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,824 shares of the company’s stock, valued at approximately $488,000.

A number of other large investors also recently made changes to their positions in ELF. BlackRock Inc. lifted its stake in shares of 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 purchasing an additional 1,236,043 shares during the period. Wellington Management Group LLP lifted its stake in shares of e.l.f. Beauty by 3,885.5% during the 1st 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 during the period. Driehaus Capital Management LLC lifted its stake in shares of e.l.f. Beauty by 169.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 843,708 shares of the company’s stock worth $25,885,000 after purchasing an additional 530,838 shares during the period. Vanguard Group Inc. lifted its stake in shares of e.l.f. Beauty by 8.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,147,304 shares of the company’s stock worth $231,262,000 after purchasing an additional 504,690 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of e.l.f. Beauty by 70.3% during the 3rd quarter. Marshall Wace LLP now owns 942,438 shares of the company’s stock worth $35,456,000 after purchasing an additional 389,163 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

e.l.f. Beauty Stock Up 1.1 %

Shares of e.l.f. Beauty stock opened at $79.31 on Tuesday. The business has a 50-day moving average of $68.96 and a 200-day moving average of $55.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.00 and a quick ratio of 2.08. The company has a market capitalization of $4.23 billion, a PE ratio of 93.31, a P/E/G ratio of 2.39 and a beta of 1.49. e.l.f. Beauty, Inc. has a 1-year low of $20.49 and a 1-year high of $79.88.

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

Insider Activity

In other news, CEO Tarang Amin sold 39,740 shares of the firm’s stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $55.56, for a total transaction of $2,207,954.40. Following the completion of the sale, the chief executive officer now directly owns 347,496 shares in the company, valued at $19,306,877.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Tarang Amin sold 39,740 shares of the firm’s stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $55.56, for a total transaction of $2,207,954.40. Following the completion of the sale, the chief executive officer now directly owns 347,496 shares in the company, valued at $19,306,877.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joshua Allen Franks sold 600 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $72.05, for a total value of $43,230.00. Following the sale, the senior vice president now owns 114,277 shares of the company’s stock, valued at $8,233,657.85. The disclosure for this sale can be found here. Insiders sold 311,195 shares of company stock worth $20,604,238 over the last ninety days. Corporate insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James upped their price objective on e.l.f. Beauty from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, March 14th. Morgan Stanley upped their price objective on e.l.f. Beauty from $64.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. JPMorgan Chase & Co. upped their price objective on e.l.f. Beauty from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Bank of America upped their price objective on e.l.f. Beauty from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 2nd. Finally, Piper Sandler upped their price objective on e.l.f. Beauty from $82.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, March 23rd. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.42.

e.l.f. Beauty Profile

(Get Rating)

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.