Massachusetts Financial Services Co. MA Raises Position in e.l.f. Beauty, Inc. (NYSE:ELF)

Massachusetts Financial Services Co. MA grew its position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 24.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 319,709 shares of the company’s stock after buying an additional 62,899 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.57% of e.l.f. Beauty worth $40,139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nemes Rush Group LLC purchased a new stake in e.l.f. Beauty during the 4th quarter valued at $27,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of e.l.f. Beauty during the third quarter valued at $25,000. Promus Capital LLC bought a new stake in e.l.f. Beauty in the 4th quarter worth about $31,000. Kestra Investment Management LLC purchased a new position in e.l.f. Beauty in the 4th quarter worth about $32,000. Finally, Financial Life Planners bought a new position in e.l.f. Beauty during the 4th quarter valued at about $46,000. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

ELF has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of e.l.f. Beauty from $154.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group decreased their target price on shares of e.l.f. Beauty from $142.00 to $124.00 and set a “buy” rating for the company in a research note on Friday, February 21st. DA Davidson dropped their price target on e.l.f. Beauty from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Morgan Stanley reiterated an “equal weight” rating and set a $70.00 price objective (down previously from $153.00) on shares of e.l.f. Beauty in a research report on Friday, February 7th. Finally, Piper Sandler dropped their target price on e.l.f. Beauty from $102.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $130.24.

Insider Activity at e.l.f. Beauty

In other news, Director Maureen C. Watson sold 4,000 shares of e.l.f. Beauty stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $67.39, for a total transaction of $269,560.00. Following the sale, the director now owns 1,888 shares in the company, valued at $127,232.32. This trade represents a 67.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.50% of the stock is owned by corporate insiders.

e.l.f. Beauty Stock Performance

ELF opened at $54.88 on Friday. The company has a 50 day simple moving average of $73.38 and a two-hundred day simple moving average of $103.96. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.17. The firm has a market cap of $3.10 billion, a P/E ratio of 32.48, a PEG ratio of 6.76 and a beta of 1.41. e.l.f. Beauty, Inc. has a 1-year low of $49.90 and a 1-year high of $219.77.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Thursday, February 6th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. Equities analysts forecast that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current fiscal year.

About e.l.f. Beauty

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.