Illinois Municipal Retirement Fund Sells 30,110 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Illinois Municipal Retirement Fund trimmed its stake in e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 77.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,623 shares of the company's stock after selling 30,110 shares during the period. Illinois Municipal Retirement Fund's holdings in e.l.f. Beauty were worth $1,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Comerica Bank purchased a new position in e.l.f. Beauty during the 3rd quarter worth $6,397,000. American Century Companies Inc. raised its stake in e.l.f. Beauty by 104.5% during the 3rd quarter. American Century Companies Inc. now owns 377,738 shares of the company's stock valued at $41,487,000 after acquiring an additional 192,988 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in e.l.f. Beauty during the 3rd quarter worth approximately $740,000. Public Employees Retirement System of Ohio grew its stake in shares of e.l.f. Beauty by 7.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,573 shares of the company's stock valued at $283,000 after purchasing an additional 172 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its holdings in shares of e.l.f. Beauty by 5.5% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 12,066 shares of the company's stock valued at $1,742,000 after purchasing an additional 633 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on ELF. Piper Sandler lifted their price objective on shares of e.l.f. Beauty from $210.00 to $258.00 and gave the company an "overweight" rating in a research report on Thursday. Raymond James reissued a "strong-buy" rating and set a $235.00 price target (up from $215.00) on shares of e.l.f. Beauty in a report on Friday, June 14th. Truist Financial lifted their price objective on e.l.f. Beauty from $200.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, May 29th. DA Davidson reissued a "buy" rating and set a $220.00 target price on shares of e.l.f. Beauty in a research note on Monday, June 3rd. Finally, Bank of America upped their price objective on e.l.f. Beauty from $220.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, e.l.f. Beauty currently has an average rating of "Moderate Buy" and an average target price of $203.07.

Insider Activity

In related news, SVP Joshua Allen Franks sold 727 shares of the business's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $165.16, for a total value of $120,071.32. Following the completion of the transaction, the senior vice president now owns 83,736 shares of the company's stock, valued at approximately $13,829,837.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other e.l.f. Beauty news, SVP Joshua Allen Franks sold 727 shares of the business's stock in a transaction on Monday, April 15th. The stock was sold at an average price of $165.16, for a total value of $120,071.32. Following the completion of the transaction, the senior vice president now directly owns 83,736 shares in the company, valued at approximately $13,829,837.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Catherine Hartnett sold 9,808 shares of the firm's stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $184.96, for a total value of $1,814,087.68. Following the sale, the insider now owns 61,647 shares in the company, valued at approximately $11,402,229.12. The disclosure for this sale can be found here. Insiders have sold 264,721 shares of company stock worth $46,009,001 over the last three months. 5.20% of the stock is currently owned by corporate insiders.

e.l.f. Beauty Price Performance

NYSE:ELF traded up $1.98 during mid-day trading on Friday, hitting $210.90. 1,893,829 shares of the company's stock traded hands, compared to its average volume of 1,385,879. e.l.f. Beauty, Inc. has a 1 year low of $88.47 and a 1 year high of $221.83. The company has a market cap of $11.80 billion, a PE ratio of 95.00, a price-to-earnings-growth ratio of 4.59 and a beta of 1.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.95 and a current ratio of 1.60. The firm's 50 day simple moving average is $188.79 and its 200 day simple moving average is $179.15.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.16. e.l.f. Beauty had a return on equity of 26.64% and a net margin of 12.47%. The firm had revenue of $321.14 million during the quarter, compared to the consensus estimate of $292.47 million. Sell-side analysts expect that e.l.f. Beauty, Inc. will post 2.85 EPS 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.