Hodges Capital Management Inc. Takes Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Hodges Capital Management Inc. purchased a new stake in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 55,748 shares of the company's stock, valued at approximately $6,078,000. Hodges Capital Management Inc. owned approximately 0.10% of e.l.f. Beauty at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Baillie Gifford & Co. acquired a new position in e.l.f. Beauty in the second quarter valued at approximately $801,693,000. Champlain Investment Partners LLC purchased a new position in shares of e.l.f. Beauty during the 3rd quarter worth $121,558,000. Swedbank AB acquired a new stake in shares of e.l.f. Beauty during the 3rd quarter worth about $76,321,000. Clearbridge Investments LLC raised its holdings in e.l.f. Beauty by 84.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company's stock valued at $265,432,000 after buying an additional 576,383 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in e.l.f. Beauty by 223.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 555,287 shares of the company's stock valued at $60,543,000 after buying an additional 383,478 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Insider Activity

In other e.l.f. Beauty news, Director Maureen C. Watson sold 785 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $130.00, for a total transaction of $102,050.00. Following the completion of the sale, the director now directly owns 1,888 shares of the company's stock, valued at $245,440. This represents a 29.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.50% of the company's stock.

e.l.f. Beauty Stock Up 6.4 %

Shares of NYSE ELF traded up $8.37 during mid-day trading on Friday, reaching $139.60. The company had a trading volume of 2,648,336 shares, compared to its average volume of 3,198,737. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. e.l.f. Beauty, Inc. has a 52-week low of $98.50 and a 52-week high of $221.83. The stock has a market cap of $7.86 billion, a P/E ratio of 75.46, a PEG ratio of 2.99 and a beta of 1.49. The firm has a 50 day simple moving average of $115.83 and a two-hundred day simple moving average of $150.48.

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, beating analysts' consensus estimates of $0.43 by $0.34. The firm had revenue of $301.10 million during the quarter, compared to analysts' expectations of $289.43 million. e.l.f. Beauty had a return on equity of 19.34% and a net margin of 8.87%. The business's revenue was up 39.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. Sell-side analysts predict that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

ELF has been the subject of a number of recent analyst reports. Piper Sandler reiterated an "overweight" rating and set a $165.00 price target (up from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. Truist Financial cut their target price on e.l.f. Beauty from $210.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. Bank of America decreased their price target on e.l.f. Beauty from $190.00 to $165.00 and set a "buy" rating on the stock in a research note on Tuesday, October 15th. 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 report on Thursday, September 12th. Finally, Canaccord Genuity Group decreased their target price on e.l.f. Beauty from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. 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 issued a strong buy rating to the company. According to data from MarketBeat, e.l.f. Beauty currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.53.

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.