Oppenheimer & Co. Inc. Decreases Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

Oppenheimer & Co. Inc. reduced its holdings in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 65.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,968 shares of the company's stock after selling 9,530 shares during the period. Oppenheimer & Co. Inc.'s holdings in e.l.f. Beauty were worth $542,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ELF. Picton Mahoney Asset Management increased its stake in e.l.f. Beauty by 3.2% during the 2nd quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company's stock worth $512,000 after buying an additional 75 shares in the last quarter. Hanseatic Management Services Inc. raised its position in shares of e.l.f. Beauty by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company's stock valued at $950,000 after buying an additional 77 shares during the last quarter. Portside Wealth Group LLC lifted its stake in e.l.f. Beauty by 3.2% in the 2nd quarter. Portside Wealth Group LLC now owns 2,982 shares of the company's stock worth $628,000 after purchasing an additional 93 shares in the last quarter. GAMMA Investing LLC grew its position in shares of e.l.f. Beauty by 27.8% in the second quarter. GAMMA Investing LLC now owns 451 shares of the company's stock valued at $95,000 after purchasing an additional 98 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in shares of e.l.f. Beauty by 2.1% in the second quarter. Evergreen Capital Management LLC now owns 4,777 shares of the company's stock valued at $1,007,000 after purchasing an additional 99 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction on Thursday, September 5th. The stock was 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 directly owns 106,016 shares of the company's stock, valued at $14,465,883.20. This trade represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ELF shares. Canaccord Genuity Group dropped their target price on e.l.f. Beauty from $250.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Morgan Stanley reduced their target price on e.l.f. Beauty from $184.00 to $139.00 and set an "equal weight" rating on the stock in a research report on Monday, September 30th. Bank of America lowered their price target on e.l.f. Beauty from $190.00 to $165.00 and set a "buy" rating for the company in a report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their price objective on shares of e.l.f. Beauty from $167.00 to $154.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Finally, Stifel Nicolaus lowered their target price on shares of e.l.f. Beauty from $131.00 to $115.00 and set a "hold" rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, e.l.f. Beauty has a consensus rating of "Moderate Buy" and a consensus price target of $173.53.

e.l.f. Beauty Stock Performance

ELF traded up $3.25 during trading on Thursday, hitting $122.25. 3,906,029 shares of the stock were exchanged, compared to its average volume of 1,973,176. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. e.l.f. Beauty, Inc. has a 1-year low of $98.50 and a 1-year high of $221.83. The stock has a fifty day moving average price of $111.89 and a two-hundred day moving average price of $153.29. The firm has a market capitalization of $6.89 billion, a P/E ratio of 65.85, a PEG ratio of 2.67 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last released 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. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The firm had revenue of $301.10 million during the quarter, compared to the consensus estimate of $289.43 million. During the same quarter in the prior year, the firm earned $0.66 EPS. e.l.f. Beauty's revenue for the quarter was up 39.7% on a year-over-year basis. As a group, sell-side analysts predict that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

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.