Massachusetts Financial Services Co. MA Purchases 55,461 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Massachusetts Financial Services Co. MA grew its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 27.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,810 shares of the company’s stock after purchasing an additional 55,461 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.46% of e.l.f. Beauty worth $28,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ELF. B. Riley Wealth Advisors Inc. lifted its holdings in shares of e.l.f. Beauty by 57.9% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,830 shares of the company’s stock worth $1,927,000 after buying an additional 3,605 shares in the last quarter. Motley Fool Asset Management LLC purchased a new position in shares of e.l.f. Beauty in the first quarter worth $213,000. Hancock Whitney Corp purchased a new position in shares of e.l.f. Beauty in the first quarter worth $1,097,000. Cetera Investment Advisers lifted its holdings in shares of e.l.f. Beauty by 492.9% in the first quarter. Cetera Investment Advisers now owns 29,380 shares of the company’s stock worth $5,759,000 after buying an additional 24,425 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new position in shares of e.l.f. Beauty in the first quarter worth $640,000. 92.44% of the stock is currently owned by institutional investors.

e.l.f. Beauty Trading Up 2.8 %

ELF stock opened at $129.98 on Tuesday. The firm’s fifty day simple moving average is $112.58 and its two-hundred day simple moving average is $152.39. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of 70.26, a price-to-earnings-growth ratio of 2.77 and a beta of 1.44. e.l.f. Beauty, Inc. has a twelve month low of $98.50 and a twelve month high of $221.83.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The firm had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $289.43 million. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The business’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. As a group, analysts anticipate that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

Insider Transactions at e.l.f. Beauty

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the transaction, the chief executive officer now directly owns 106,016 shares in the company, valued at $14,465,883.20. This represents a 18.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

ELF has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Truist Financial decreased their price target on shares of e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. B. Riley decreased their price target on shares of e.l.f. Beauty from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. DA Davidson reaffirmed a “buy” rating and set a $170.00 price target on shares of e.l.f. Beauty in a research note on Monday. Finally, Morgan Stanley decreased their price target on shares of e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $173.53.

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.