Concentric Capital Strategies LP Invests $3.11 Million in e.l.f. Beauty, Inc. (NYSE:ELF)

Concentric Capital Strategies LP bought a new stake in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 28,525 shares of the company's stock, valued at approximately $3,110,000. Concentric Capital Strategies LP owned approximately 0.05% of e.l.f. Beauty as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new position in e.l.f. Beauty in the 2nd quarter worth approximately $26,000. Matrix Trust Co bought a new stake in e.l.f. Beauty during the 2nd quarter worth about $27,000. Innealta Capital LLC acquired a new position in e.l.f. Beauty during the 2nd quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. boosted its stake in e.l.f. Beauty by 405.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company's stock valued at $36,000 after acquiring an additional 138 shares during the last quarter. Finally, Crewe Advisors LLC grew its stake in shares of e.l.f. Beauty by 456.3% during the second quarter. Crewe Advisors LLC now owns 178 shares of the company's stock worth $38,000 after purchasing an additional 146 shares during the period. Institutional investors own 92.44% of the company's stock.

Wall Street Analyst Weigh In

ELF has been the subject of several analyst reports. B. Riley decreased their target price on e.l.f. Beauty from $175.00 to $150.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Piper Sandler restated an "overweight" rating and issued a $165.00 price objective (up previously from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. Morgan Stanley decreased their target price on e.l.f. Beauty from $184.00 to $139.00 and set an "equal weight" rating for the company in a research note on Monday, September 30th. DA Davidson reiterated a "buy" rating and set a $170.00 price objective on shares of e.l.f. Beauty in a report on Monday, November 25th. Finally, Stifel Nicolaus dropped their target price on shares of e.l.f. Beauty from $131.00 to $115.00 and set a "hold" rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $173.53.

e.l.f. Beauty Stock Down 2.2 %

NYSE ELF traded down $2.82 during trading hours on Tuesday, hitting $127.89. 481,277 shares of the company traded hands, compared to its average volume of 1,967,940. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 70.65, a P/E/G ratio of 2.84 and a beta of 1.49. e.l.f. Beauty, Inc. has a twelve month low of $98.50 and a twelve month high of $221.83. The business's 50-day moving average is $114.03 and its 200-day moving average is $151.13. 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 (NYSE:ELF - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share 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 net margin of 8.87% and a return on equity of 19.34%. The firm's revenue was up 39.7% on a year-over-year basis. During the same period last year, the business earned $0.66 earnings per share. Sell-side analysts anticipate that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

Insider Activity at e.l.f. Beauty

In other news, CEO Tarang Amin sold 23,528 shares of the firm's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the completion of the sale, the chief executive officer now owns 106,016 shares in the company, valued at approximately $14,465,883.20. This trade represents a 18.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.50% of the stock is currently owned by company insiders.

e.l.f. Beauty Company Profile

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.