Retirement Systems of Alabama Sells 1,193 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Retirement Systems of Alabama cut its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 1.5% in the second quarter, HoldingsChannel.com reports. The firm owned 78,310 shares of the company’s stock after selling 1,193 shares during the period. Retirement Systems of Alabama’s holdings in e.l.f. Beauty were worth $16,501,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ELF. Shelton Wealth Management LLC bought a new position in shares of e.l.f. Beauty during the 2nd quarter worth approximately $485,000. Fifth Third Wealth Advisors LLC purchased a new stake in shares of e.l.f. Beauty during the 2nd quarter valued at $371,000. Fifth Third Bancorp lifted its holdings in shares of e.l.f. Beauty by 23.5% during the 2nd quarter. Fifth Third Bancorp now owns 24,159 shares of the company’s stock valued at $5,091,000 after purchasing an additional 4,599 shares during the last quarter. Dakota Wealth Management boosted its position in shares of e.l.f. Beauty by 1,727.2% in the 2nd quarter. Dakota Wealth Management now owns 58,764 shares of the company’s stock worth $12,383,000 after purchasing an additional 55,548 shares in the last quarter. Finally, Lifestyle Asset Management Inc. grew its stake in e.l.f. Beauty by 24.1% during the 2nd quarter. Lifestyle Asset Management Inc. now owns 1,662 shares of the company’s stock worth $350,000 after buying an additional 323 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ELF. Canaccord Genuity Group raised their price target on e.l.f. Beauty from $214.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. DA Davidson boosted their target price on shares of e.l.f. Beauty from $220.00 to $223.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Baird R W upgraded shares of e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 18th. Canaccord Genuity Group lifted their price objective on shares of e.l.f. Beauty from $214.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, UBS Group cut their target price on 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $216.43.

Insider Buying and Selling at e.l.f. Beauty

In other news, insider Jennifer Catherine Hartnett sold 9,808 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $184.96, for a total transaction of $1,814,087.68. Following the sale, the insider now owns 61,647 shares of the company’s stock, valued at approximately $11,402,229.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other e.l.f. Beauty news, insider Jennifer Catherine Hartnett sold 9,808 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $184.96, for a total value of $1,814,087.68. Following the completion of the transaction, the insider now owns 61,647 shares in the company, valued at $11,402,229.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tarang Amin sold 548 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $175.00, for a total value of $95,900.00. Following the sale, the chief executive officer now owns 214,507 shares in the company, valued at $37,538,725. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,390 shares of company stock valued at $18,264,873. 5.20% of the stock is owned by company insiders.

e.l.f. Beauty Price Performance

NYSE:ELF opened at $170.95 on Friday. The firm’s fifty day moving average is $184.56 and its two-hundred day moving average is $182.17. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 77.00, a PEG ratio of 3.66 and a beta of 1.46. e.l.f. Beauty, Inc. has a one year low of $88.47 and a one year high of $221.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.95 and a current ratio of 1.60.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Wednesday, May 22nd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. The firm had revenue of $321.14 million for the quarter, compared to the consensus estimate of $292.47 million. e.l.f. Beauty had a return on equity of 26.64% and a net margin of 12.47%. Research analysts expect that e.l.f. Beauty, Inc. will post 2.84 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.