Summit Investment Advisors Inc. Grows Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

Summit Investment Advisors Inc. lifted its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF - Free Report) by 40.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,483 shares of the company's stock after purchasing an additional 6,214 shares during the period. Summit Investment Advisors Inc.'s holdings in e.l.f. Beauty were worth $2,697,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Nemes Rush Group LLC acquired a new stake in e.l.f. Beauty in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of e.l.f. Beauty in the 3rd quarter worth $25,000. Promus Capital LLC acquired a new stake in e.l.f. Beauty in the fourth quarter valued at about $31,000. Kestra Investment Management LLC purchased a new stake in shares of e.l.f. Beauty in the fourth quarter valued at approximately $32,000. Finally, Financial Life Planners acquired a new stake in shares of e.l.f. Beauty in the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

e.l.f. Beauty Stock Up 5.3 %

NYSE:ELF traded up $2.65 during trading hours on Friday, reaching $52.60. 2,237,084 shares of the stock were exchanged, compared to its average volume of 2,345,312. The stock has a market cap of $2.97 billion, a PE ratio of 31.12, a PEG ratio of 6.76 and a beta of 1.41. e.l.f. Beauty, Inc. has a twelve month low of $49.40 and a twelve month high of $219.77. The firm has a 50 day moving average of $64.51 and a 200 day moving average of $99.59. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.17.

e.l.f. Beauty (NYSE:ELF - Get Free Report) last issued its quarterly earnings data 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 net margin of 7.55% and a return on equity of 16.88%. On average, equities analysts expect that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ELF shares. The Goldman Sachs Group lowered their target price on e.l.f. Beauty from $142.00 to $124.00 and set a "buy" rating on the stock in a report on Friday, February 21st. UBS Group dropped their price target on e.l.f. Beauty from $74.00 to $59.00 and set a "neutral" rating for the company in a research note on Thursday. Raymond James cut their target price on shares of e.l.f. Beauty from $120.00 to $85.00 and set a "strong-buy" rating on the stock in a research note on Thursday. B. Riley reaffirmed a "buy" rating and set a $90.00 price target (down from $150.00) on shares of e.l.f. Beauty in a report on Friday, February 7th. Finally, DA Davidson decreased their price objective on shares of e.l.f. Beauty from $80.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, March 17th. 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $121.82.

Insiders Place Their Bets

In related news, Director Maureen C. Watson sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $67.39, for a total value of $269,560.00. Following the sale, the director now directly owns 1,888 shares of the company's stock, valued at $127,232.32. This trade represents a 67.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.50% of the company's stock.

e.l.f. Beauty 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.