Formula Growth Ltd. Buys New Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Formula Growth Ltd. purchased a new position in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,000 shares of the company's stock, valued at approximately $628,000.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of e.l.f. Beauty by 149.8% in the fourth quarter. Principal Financial Group Inc. now owns 328,557 shares of the company's stock worth $41,250,000 after buying an additional 197,028 shares during the period. Global Retirement Partners LLC increased its position in shares of e.l.f. Beauty by 441.0% in the fourth quarter. Global Retirement Partners LLC now owns 8,283 shares of the company's stock valued at $1,040,000 after acquiring an additional 6,752 shares during the period. Robbins Farley raised its stake in shares of e.l.f. Beauty by 27.1% during the fourth quarter. Robbins Farley now owns 34,396 shares of the company's stock valued at $4,318,000 after acquiring an additional 7,335 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of e.l.f. Beauty by 43.4% during the fourth quarter. Pacer Advisors Inc. now owns 11,802 shares of the company's stock worth $1,482,000 after purchasing an additional 3,572 shares during the period. Finally, Ibex Wealth Advisors bought a new stake in shares of e.l.f. Beauty in the fourth quarter worth about $5,519,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

e.l.f. Beauty Trading Up 5.9 %

ELF traded up $3.36 during trading hours on Thursday, reaching $60.20. 1,146,656 shares of the company's stock traded hands, compared to its average volume of 2,946,776. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $62.88 and a 200 day moving average price of $98.18. e.l.f. Beauty, Inc. has a 52-week low of $49.40 and a 52-week high of $219.77. The firm has a market capitalization of $3.40 billion, a PE ratio of 35.62, a PEG ratio of 6.76 and a beta of 1.41.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. As a group, sell-side analysts predict that e.l.f. Beauty, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ELF. Raymond James dropped their price objective on e.l.f. Beauty from $120.00 to $85.00 and set a "strong-buy" rating for the company in a report on Thursday, April 17th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $70.00 price target (down previously from $153.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Canaccord Genuity Group reduced their price objective on shares of e.l.f. Beauty from $174.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Piper Sandler dropped their target price on shares of e.l.f. Beauty from $102.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Finally, Stifel Nicolaus reduced their price target on shares of e.l.f. Beauty from $115.00 to $105.00 and set a "hold" rating on the stock in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, e.l.f. Beauty has an average rating of "Moderate Buy" and a consensus target price of $117.41.

Insider Activity

In other news, CEO Tarang Amin sold 97,915 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $53.36, for a total transaction of $5,224,744.40. Following the transaction, the chief executive officer now owns 181,289 shares in the company, valued at approximately $9,673,581.04. This trade represents a 35.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Maureen C. Watson sold 4,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $67.39, for a total transaction of $269,560.00. Following the completion of the sale, the director now directly owns 1,888 shares of the company's stock, valued at approximately $127,232.32. This trade represents a 67.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 204,618 shares of company stock valued at $10,974,536. Corporate insiders own 3.50% of the company's stock.

e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics 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.