MML Investors Services LLC Buys 7,865 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

MML Investors Services LLC boosted its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 54.4% in the third quarter, HoldingsChannel.com reports. The firm owned 22,324 shares of the company’s stock after acquiring an additional 7,865 shares during the period. MML Investors Services LLC’s holdings in e.l.f. Beauty were worth $2,434,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ELF. Canada Pension Plan Investment Board bought a new position in shares of e.l.f. Beauty during the 2nd quarter worth approximately $6,659,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in e.l.f. Beauty by 1,380.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,284 shares of the company’s stock worth $1,775,000 after purchasing an additional 15,184 shares during the last quarter. Cetera Investment Advisers grew its holdings in e.l.f. Beauty by 33.8% in the second quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock worth $8,285,000 after purchasing an additional 9,939 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of e.l.f. Beauty by 84.4% during the second 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 in the last quarter. Finally, Congress Asset Management Co. lifted its holdings in shares of e.l.f. Beauty by 14.2% during the 3rd quarter. Congress Asset Management Co. now owns 503,577 shares of the company’s stock valued at $54,905,000 after purchasing an additional 62,480 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Jefferies Financial Group reduced their target price on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Stifel Nicolaus dropped their price target on e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating on the stock in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of e.l.f. Beauty in a report on Thursday. They issued a “hold” rating and a $133.00 price target on the stock. Canaccord Genuity Group cut their target price on shares of e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, The Goldman Sachs Group started coverage on e.l.f. Beauty in a report on Friday. They issued a “buy” rating and a $165.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $170.65.

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

In related news, Director Maureen C. Watson sold 785 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $130.00, for a total value of $102,050.00. Following the completion of the sale, the director now owns 1,888 shares of the company’s stock, valued at approximately $245,440. This represents a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Scott Milsten sold 530 shares of e.l.f. Beauty stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $137.60, for a total transaction of $72,928.00. Following the transaction, the insider now directly owns 68,853 shares in the company, valued at $9,474,172.80. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,205 shares of company stock worth $297,442 in the last three months. 3.50% of the stock is owned by corporate insiders.

e.l.f. Beauty Stock Performance

NYSE:ELF opened at $140.63 on Monday. e.l.f. Beauty, Inc. has a twelve month low of $98.50 and a twelve month high of $221.83. The company has a market cap of $7.92 billion, a P/E ratio of 76.02, a P/E/G ratio of 3.03 and a beta of 1.49. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $118.97 and its 200-day moving average price is $148.68.

e.l.f. Beauty (NYSE:ELF) last issued its 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 return on equity of 19.34% and a net margin of 8.87%. The business had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $289.43 million. During the same period in the previous year, the firm posted $0.66 EPS. The business’s revenue for the quarter was up 39.7% compared to the same quarter last year. On average, sell-side analysts forecast that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current fiscal 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.