Griffin Asset Management Inc. Invests $345,000 in e.l.f. Beauty, Inc. (NYSE:ELF)

Griffin Asset Management Inc. bought a new stake in e.l.f. Beauty, Inc. (NYSE:ELF) in the first quarter, HoldingsChannel.com reports. The fund bought 1,758 shares of the company’s stock, valued at approximately $345,000.

Several other large investors also recently bought and sold shares of ELF. Envestnet Portfolio Solutions Inc. bought a new stake in e.l.f. Beauty during the third quarter worth approximately $369,000. Envestnet Asset Management Inc. increased its position in shares of e.l.f. Beauty by 83.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 62,855 shares of the company’s stock valued at $6,903,000 after purchasing an additional 28,635 shares during the last quarter. LPL Financial LLC raised its holdings in e.l.f. Beauty by 55.5% during the 3rd quarter. LPL Financial LLC now owns 34,976 shares of the company’s stock valued at $3,841,000 after buying an additional 12,481 shares during the period. Mariner LLC lifted its position in e.l.f. Beauty by 42.8% in the third quarter. Mariner LLC now owns 4,164 shares of the company’s stock worth $457,000 after buying an additional 1,249 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in e.l.f. Beauty by 15.3% during the third quarter. Northern Trust Corp now owns 597,469 shares of the company’s stock worth $65,620,000 after buying an additional 79,155 shares during the period. Institutional investors own 92.44% of the company’s stock.

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

In related news, SVP Joshua Allen Franks sold 727 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $165.16, for a total transaction of $120,071.32. Following the completion of the sale, the senior vice president now directly owns 83,736 shares in the company, valued at approximately $13,829,837.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Joshua Allen Franks sold 727 shares of e.l.f. Beauty stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $165.16, for a total value of $120,071.32. Following the transaction, the senior vice president now owns 83,736 shares of the company’s stock, valued at approximately $13,829,837.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tarang Amin sold 6,832 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $162.63, for a total transaction of $1,111,088.16. Following the transaction, the chief executive officer now owns 228,175 shares of the company’s stock, valued at approximately $37,108,100.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 256,167 shares of company stock valued at $44,029,811. 5.20% of the stock is currently owned by corporate insiders.

e.l.f. Beauty Stock Down 3.3 %

Shares of e.l.f. Beauty stock opened at $210.72 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.60 and a quick ratio of 0.95. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 94.92, a PEG ratio of 5.34 and a beta of 1.54. The firm’s 50-day moving average is $181.64 and its two-hundred day moving average is $174.76. e.l.f. Beauty, Inc. has a 1 year low of $88.47 and a 1 year high of $221.83.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data on Wednesday, May 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, beating 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 net margin of 12.47% and a return on equity of 26.64%. As a group, research analysts expect that e.l.f. Beauty, Inc. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of e.l.f. Beauty from $167.00 to $151.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. Canaccord Genuity Group increased 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 report on Tuesday, June 18th. TD Cowen boosted their target price on e.l.f. Beauty from $190.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target on shares of e.l.f. Beauty in a report on Monday, June 24th. Finally, Truist Financial boosted their price objective on e.l.f. Beauty from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, e.l.f. Beauty has an average rating of “Moderate Buy” and an average price target of $198.93.

About e.l.f. Beauty

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.