AMI Asset Management Corp Has $821,000 Stock Position in e.l.f. Beauty, Inc. (NYSE:ELF)

AMI Asset Management Corp increased its position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 101.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,529 shares of the company’s stock after acquiring an additional 3,798 shares during the quarter. AMI Asset Management Corp’s holdings in e.l.f. Beauty were worth $821,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Baillie Gifford & Co. bought a new position in e.l.f. Beauty during the second quarter valued at about $801,693,000. William Blair Investment Management LLC raised 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 acquiring an additional 168,267 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in 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 worth $265,432,000 after purchasing an additional 576,383 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in e.l.f. Beauty by 55.8% during the third 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 period. Finally, Swedbank AB acquired a new position in e.l.f. Beauty during the third quarter valued at approximately $76,321,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ELF. TD Cowen lowered their price target on e.l.f. Beauty from $235.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Baird R W upgraded shares of e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. reduced their target price on shares of e.l.f. Beauty from $207.00 to $167.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Piper Sandler cut their target price on e.l.f. Beauty from $260.00 to $162.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, DA Davidson reissued a “buy” rating and issued a $223.00 price target on shares of e.l.f. Beauty in a report on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.43.

Insiders Place Their Bets

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 in the company, valued at approximately $14,465,883.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.20% of the company’s stock.

e.l.f. Beauty Price Performance

e.l.f. Beauty stock opened at $113.00 on Wednesday. The business’s 50-day simple moving average is $120.52 and its 200 day simple moving average is $158.87. The company has a quick ratio of 1.10, a current ratio of 1.77 and a debt-to-equity ratio of 0.23. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 51.05, a P/E/G ratio of 2.22 and a beta of 1.43. e.l.f. Beauty, Inc. has a 12-month low of $88.47 and a 12-month high of $221.83.

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%. As a group, research analysts anticipate that e.l.f. Beauty, Inc. will post 2.88 earnings per share 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.