Wealth Enhancement Advisory Services LLC Acquires 2,596 Shares of e.l.f. Beauty $ELF

Wealth Enhancement Advisory Services LLC boosted its holdings in e.l.f. Beauty (NYSE:ELF) by 63.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,676 shares of the company’s stock after acquiring an additional 2,596 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in e.l.f. Beauty were worth $874,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ELF. Golden State Wealth Management LLC bought a new position in shares of e.l.f. Beauty during the 1st quarter worth approximately $33,000. Parallel Advisors LLC lifted its position in shares of e.l.f. Beauty by 167.9% during the 2nd quarter. Parallel Advisors LLC now owns 627 shares of the company’s stock worth $78,000 after buying an additional 393 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of e.l.f. Beauty by 56.5% during the 1st quarter. Larson Financial Group LLC now owns 676 shares of the company’s stock worth $42,000 after buying an additional 244 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of e.l.f. Beauty by 577.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 759 shares of the company’s stock worth $49,000 after buying an additional 647 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of e.l.f. Beauty by 27.9% during the 1st quarter. Signaturefd LLC now owns 858 shares of the company’s stock worth $54,000 after buying an additional 187 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Up 0.5%

ELF opened at $135.89 on Friday. The company has a fifty day moving average price of $126.18 and a 200-day moving average price of $101.55. The firm has a market capitalization of $8.06 billion, a P/E ratio of 79.94, a price-to-earnings-growth ratio of 3.13 and a beta of 1.57. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.26 and a quick ratio of 2.34. e.l.f. Beauty has a one year low of $49.40 and a one year high of $150.99.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The firm had revenue of $353.74 million during the quarter, compared to analyst estimates of $348.99 million. e.l.f. Beauty had a net margin of 7.29% and a return on equity of 16.36%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.10 EPS. Equities research analysts expect that e.l.f. Beauty will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of e.l.f. Beauty from a “buy” rating to a “hold” rating and lifted their target price for the stock from $121.00 to $128.00 in a research report on Tuesday, September 2nd. Piper Sandler initiated coverage on shares of e.l.f. Beauty in a report on Thursday, September 4th. They issued an “overweight” rating and a $150.00 price target on the stock. B. Riley lifted their price target on shares of e.l.f. Beauty from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Morgan Stanley raised shares of e.l.f. Beauty from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $114.00 to $134.00 in a report on Monday, August 11th. Finally, Bank of America lifted their price objective on shares of e.l.f. Beauty from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.60.

Insider Activity

In other news, Director Lauren Cooks Levitan sold 4,630 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $118.94, for a total transaction of $550,692.20. Following the completion of the transaction, the director directly owned 11,507 shares in the company, valued at $1,368,642.58. The trade was a 28.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joshua Allen Franks sold 7,913 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $145.00, for a total transaction of $1,147,385.00. Following the transaction, the senior vice president owned 99,369 shares of the company’s stock, valued at $14,408,505. This trade represents a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,745 shares of company stock worth $25,613,238. Company insiders own 3.90% 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.