Short Interest in e.l.f. Beauty, Inc. (NYSE:ELF) Drops By 21.0%

e.l.f. Beauty, Inc. (NYSE:ELFGet Rating) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 1,880,000 shares, a drop of 21.0% from the August 15th total of 2,380,000 shares. Based on an average daily trading volume, of 640,200 shares, the short-interest ratio is currently 2.9 days. Currently, 3.8% of the shares of the stock are sold short.

e.l.f. Beauty Trading Down 2.5 %

NYSE:ELF opened at $39.37 on Friday. The firm has a market cap of $2.06 billion, a P/E ratio of 74.28 and a beta of 1.59. The company has a current ratio of 3.51, a quick ratio of 2.37 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $35.91 and its 200-day simple moving average is $29.09. e.l.f. Beauty has a 12-month low of $20.49 and a 12-month high of $40.89.

e.l.f. Beauty (NYSE:ELFGet Rating) last released its earnings results on Wednesday, August 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14. The business had revenue of $122.60 million for the quarter, compared to analyst estimates of $109.42 million. e.l.f. Beauty had a return on equity of 10.95% and a net margin of 6.69%. Equities analysts anticipate that e.l.f. Beauty will post 0.63 EPS for the current year.

Insider Activity

In other news, CEO Tarang Amin sold 42,561 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $30.02, for a total transaction of $1,277,681.22. Following the transaction, the chief executive officer now owns 415,785 shares in the company, valued at approximately $12,481,865.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other e.l.f. Beauty news, Director Maureen C. Watson sold 12,852 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $37.53, for a total value of $482,335.56. Following the transaction, the director now owns 6,260 shares in the company, valued at approximately $234,937.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tarang Amin sold 42,561 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $30.02, for a total value of $1,277,681.22. Following the completion of the transaction, the chief executive officer now owns 415,785 shares in the company, valued at approximately $12,481,865.70. The disclosure for this sale can be found here. Insiders have sold 542,746 shares of company stock worth $19,538,088 in the last quarter. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ELF. Covestor Ltd grew its holdings in e.l.f. Beauty by 8,340.0% during the first quarter. Covestor Ltd now owns 1,266 shares of the company’s stock worth $33,000 after acquiring an additional 1,251 shares during the period. KBC Group NV acquired a new position in e.l.f. Beauty during the second quarter worth $120,000. Psagot Value Holdings Ltd. Israel acquired a new position in e.l.f. Beauty during the fourth quarter worth $130,000. Advisor Group Holdings Inc. grew its holdings in e.l.f. Beauty by 7.6% during the first quarter. Advisor Group Holdings Inc. now owns 6,765 shares of the company’s stock worth $174,000 after acquiring an additional 476 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in e.l.f. Beauty by 31.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,195 shares of the company’s stock worth $186,000 after purchasing an additional 1,739 shares in the last quarter. Institutional investors and hedge funds own 94.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ELF. TheStreet upgraded e.l.f. Beauty from a “c+” rating to an “a-” rating in a report on Wednesday, August 3rd. Piper Sandler decreased their price objective on e.l.f. Beauty from $29.00 to $24.00 in a report on Thursday, May 26th. Truist Financial raised their target price on e.l.f. Beauty from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday. Cowen downgraded e.l.f. Beauty from an “outperform” rating to a “market perform” rating in a research note on Friday, August 12th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised their target price on e.l.f. Beauty from $30.00 to $35.00 in a research note on Thursday, July 21st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.22.

About e.l.f. Beauty

(Get Rating)

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.

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