Massachusetts Financial Services Co. MA Acquires 55,461 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Massachusetts Financial Services Co. MA raised its position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 27.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 256,810 shares of the company’s stock after buying an additional 55,461 shares during the period. Massachusetts Financial Services Co. MA’s holdings in e.l.f. Beauty were worth $28,000,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ELF. Ashton Thomas Private Wealth LLC purchased a new stake in shares of e.l.f. Beauty during the second quarter valued at about $26,000. Matrix Trust Co purchased a new stake in shares of e.l.f. Beauty during the second quarter valued at about $27,000. Innealta Capital LLC purchased a new stake in shares of e.l.f. Beauty during the second quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of e.l.f. Beauty by 405.9% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 172 shares of the company’s stock valued at $36,000 after buying an additional 138 shares during the last quarter. Finally, Crewe Advisors LLC lifted its position in shares of e.l.f. Beauty by 456.3% during the second quarter. Crewe Advisors LLC now owns 178 shares of the company’s stock valued at $38,000 after buying an additional 146 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the sale, the chief executive officer now owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. This trade represents a 18.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on ELF. Stifel Nicolaus decreased their price target on shares of e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price objective (up from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. Bank of America decreased their price objective on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Canaccord Genuity Group decreased their price objective on shares of e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Robert W. Baird decreased their price objective on shares of e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.53.

e.l.f. Beauty Price Performance

Shares of NYSE ELF opened at $129.98 on Tuesday. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of 70.26, a PEG ratio of 2.77 and a beta of 1.44. e.l.f. Beauty, Inc. has a 12 month low of $98.50 and a 12 month high of $221.83. The firm’s 50 day simple moving average is $112.58 and its 200-day simple moving average is $152.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The business had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $289.43 million. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The business’s revenue was up 39.7% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. Analysts expect that e.l.f. Beauty, Inc. will post 2.8 EPS for the current year.

e.l.f. Beauty 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.