Congress Asset Management Co. Acquires 62,480 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Congress Asset Management Co. increased its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 14.2% during the third quarter, HoldingsChannel reports. The fund owned 503,577 shares of the company’s stock after acquiring an additional 62,480 shares during the quarter. Congress Asset Management Co.’s holdings in e.l.f. Beauty were worth $54,905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ELF. Baillie Gifford & Co. bought a new stake in shares of e.l.f. Beauty in the second quarter valued at about $801,693,000. William Blair Investment Management LLC boosted its stake in shares of e.l.f. Beauty by 12.5% in the 2nd quarter. William Blair Investment Management LLC now owns 1,512,180 shares of the company’s stock valued at $318,647,000 after purchasing an additional 168,267 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of 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 purchasing an additional 576,383 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of e.l.f. Beauty by 55.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 730,377 shares of the company’s stock worth $79,633,000 after purchasing an additional 261,707 shares during the last quarter. Finally, Swedbank AB acquired a new position in e.l.f. Beauty in the third quarter valued at about $76,321,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

e.l.f. Beauty Trading Down 2.9 %

Shares of NYSE ELF traded down $3.13 during mid-day trading on Thursday, hitting $106.09. The company’s stock had a trading volume of 762,997 shares, compared to its average volume of 1,817,399. e.l.f. Beauty, Inc. has a one year low of $88.47 and a one year high of $221.83. The company’s fifty day simple moving average is $119.30 and its 200-day simple moving average is $158.52. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.77 and a quick ratio of 1.10. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 49.25, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. The firm had revenue of $324.48 million for the quarter, compared to analysts’ expectations of $303.60 million. e.l.f. Beauty had a net margin of 10.80% and a return on equity of 23.30%. On average, sell-side analysts anticipate that e.l.f. Beauty, Inc. will post 2.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, August 9th. Bank of America dropped their price target on e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Baird R W raised e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 18th. Raymond James restated a “strong-buy” rating and issued a $235.00 target price on shares of e.l.f. Beauty in a research note on Monday, July 22nd. Finally, Stifel Nicolaus reduced their price target on shares of e.l.f. Beauty from $161.00 to $131.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, e.l.f. Beauty has a consensus rating of “Moderate Buy” and a consensus target price of $183.80.

Insider Buying and Selling

In other e.l.f. Beauty news, CEO Tarang Amin sold 548 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $175.00, for a total transaction of $95,900.00. Following the transaction, the chief executive officer now owns 214,507 shares in the company, valued at approximately $37,538,725. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.20% of the stock is owned by insiders.

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.