Kovack Advisors Inc. Trims Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

Kovack Advisors Inc. trimmed its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 9.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,311 shares of the company’s stock after selling 355 shares during the quarter. Kovack Advisors Inc.’s holdings in e.l.f. Beauty were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. purchased a new position in e.l.f. Beauty during the second quarter valued at approximately $801,693,000. Swedbank AB bought a new stake in e.l.f. Beauty during the 3rd quarter valued at $76,321,000. Clearbridge Investments LLC purchased a new position in shares of e.l.f. Beauty in the 1st quarter valued at $133,940,000. 1832 Asset Management L.P. bought a new position in shares of e.l.f. Beauty in the 1st quarter worth $61,299,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of e.l.f. Beauty by 55.8% during 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. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ELF. Canaccord Genuity Group cut their target price on e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. UBS Group cut their price objective on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Jefferies Financial Group reduced their price objective on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. DA Davidson lowered their target price on shares of e.l.f. Beauty from $223.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their price target on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, e.l.f. Beauty presently has an average rating of “Moderate Buy” and a consensus target price of $173.53.

Insider Buying and Selling

In related news, CEO Tarang Amin sold 23,528 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the sale, the chief executive officer now directly owns 106,016 shares of the company’s stock, valued at $14,465,883.20. This trade represents a 18.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

e.l.f. Beauty Stock Down 1.5 %

e.l.f. Beauty stock opened at $121.27 on Friday. e.l.f. Beauty, Inc. has a fifty-two week low of $98.50 and a fifty-two week high of $221.83. The company has a market cap of $6.83 billion, a PE ratio of 65.55, a PEG ratio of 2.69 and a beta of 1.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78. The business’s 50-day simple moving average is $111.42 and its two-hundred day simple moving average is $154.51.

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

e.l.f. Beauty Company 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.