Wellington Management Group LLP Sells 686,779 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Wellington Management Group LLP cut its stake in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 22.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,430,214 shares of the company's stock after selling 686,779 shares during the quarter. Wellington Management Group LLP owned approximately 4.31% of e.l.f. Beauty worth $264,966,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ELF. Cetera Advisors LLC acquired a new position in e.l.f. Beauty in the 1st quarter worth about $640,000. OLD National Bancorp IN bought a new position in e.l.f. Beauty during the second quarter valued at approximately $291,000. SG Americas Securities LLC lifted its stake in e.l.f. Beauty by 793.1% in the second quarter. SG Americas Securities LLC now owns 19,121 shares of the company's stock valued at $4,029,000 after acquiring an additional 16,980 shares during the last quarter. Coastline Trust Co bought a new stake in e.l.f. Beauty in the second quarter worth approximately $764,000. Finally, RFG Advisory LLC increased its stake in shares of e.l.f. Beauty by 88.6% during the 2nd quarter. RFG Advisory LLC now owns 2,116 shares of the company's stock worth $446,000 after purchasing an additional 994 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 other e.l.f. Beauty news, Director Maureen C. Watson sold 785 shares of e.l.f. Beauty stock in a transaction on Friday, November 29th. The stock was sold at an average price of $130.00, for a total value of $102,050.00. Following the completion of the transaction, the director now owns 1,888 shares in the company, valued at approximately $245,440. The trade was a 29.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ELF has been the subject of several analyst reports. Jefferies Financial Group reduced their price objective on shares of e.l.f. Beauty from $220.00 to $175.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Robert W. Baird decreased their price target on e.l.f. Beauty from $240.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, October 21st. TD Cowen cut their price objective on e.l.f. Beauty from $235.00 to $150.00 and set a "buy" rating on the stock in a research note on Thursday, September 12th. 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 report on Monday, September 30th. Finally, Truist Financial lowered their price target on e.l.f. Beauty from $210.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, e.l.f. Beauty presently has an average rating of "Moderate Buy" and a consensus target price of $173.53.

e.l.f. Beauty Price Performance

e.l.f. Beauty stock traded up $8.37 during mid-day trading on Friday, hitting $139.60. 2,648,336 shares of the company were exchanged, compared to its average volume of 3,198,737. e.l.f. Beauty, Inc. has a 1-year low of $98.50 and a 1-year high of $221.83. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $115.83 and a 200 day moving average of $150.52. The company has a market capitalization of $7.86 billion, a PE ratio of 75.46, a price-to-earnings-growth ratio of 2.99 and a beta of 1.49.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter was up 39.7% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. As a group, sell-side analysts expect that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

About e.l.f. Beauty

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.