Connor Clark & Lunn Investment Management Ltd. Invests $2.13 Million in e.l.f. Beauty, Inc. (NYSE:ELF)

Posted by Defense World Staff on May 29th, 2023

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 38,558 shares of the company’s stock, valued at approximately $2,132,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of e.l.f. Beauty at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ELF. Advisor Group Holdings Inc. boosted its position in shares of e.l.f. Beauty by 7.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 6,765 shares of the company’s stock valued at $174,000 after acquiring an additional 476 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of e.l.f. Beauty by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 428,775 shares of the company’s stock valued at $11,076,000 after acquiring an additional 4,476 shares during the last quarter. Citigroup Inc. boosted its position in shares of e.l.f. Beauty by 12.4% during the 1st quarter. Citigroup Inc. now owns 41,711 shares of the company’s stock valued at $1,077,000 after acquiring an additional 4,617 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new position in shares of e.l.f. Beauty during the 1st quarter valued at about $342,000. Finally, MetLife Investment Management LLC boosted its position in shares of e.l.f. Beauty by 53.3% during the 1st quarter. MetLife Investment Management LLC now owns 26,424 shares of the company’s stock valued at $683,000 after acquiring an additional 9,189 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ELF shares. DA Davidson boosted their price target on shares of e.l.f. Beauty from $91.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. JPMorgan Chase & Co. upped their target price on shares of e.l.f. Beauty from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Canaccord Genuity Group upped their target price on shares of e.l.f. Beauty from $63.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Morgan Stanley upped their target price on shares of e.l.f. Beauty from $94.00 to $110.00 in a research report on Thursday. Finally, Cowen upped their target price on shares of e.l.f. Beauty from $36.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, February 16th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.50.

Insiders Place Their Bets

In related news, SVP Joshua Allen Franks sold 7,180 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $72.84, for a total transaction of $522,991.20. Following the sale, the senior vice president now directly owns 107,097 shares in the company, valued at $7,800,945.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Tarang Amin sold 39,740 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $88.47, for a total transaction of $3,515,797.80. Following the sale, the chief executive officer now directly owns 286,964 shares in the company, valued at $25,387,705.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joshua Allen Franks sold 7,180 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $72.84, for a total transaction of $522,991.20. Following the sale, the senior vice president now owns 107,097 shares in the company, valued at $7,800,945.48. The disclosure for this sale can be found here. Insiders have sold 252,162 shares of company stock worth $19,624,844 over the last three months. Company insiders own 8.20% of the company’s stock.

e.l.f. Beauty Stock Down 2.8 %

Shares of NYSE:ELF opened at $101.28 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.81 and a quick ratio of 2.06. The firm has a market capitalization of $5.46 billion, a PE ratio of 91.24, a price-to-earnings-growth ratio of 6.24 and a beta of 1.50. The firm’s 50-day moving average is $87.30 and its two-hundred day moving average is $70.13. e.l.f. Beauty, Inc. has a 1 year low of $24.62 and a 1 year high of $104.31.

e.l.f. Beauty Company Profile

(Get Rating)

e.l.f. Beauty, Inc is 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.