Fifth Third Bancorp Increases Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

Fifth Third Bancorp lifted its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,751 shares of the company’s stock after buying an additional 216 shares during the quarter. Fifth Third Bancorp’s holdings in e.l.f. Beauty were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ELF. Baillie Gifford & Co. increased its position in shares of e.l.f. Beauty by 51.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,009,434 shares of the company’s stock valued at $1,005,584,000 after buying an additional 2,703,742 shares during the period. Champlain Investment Partners LLC increased its position in shares of e.l.f. Beauty by 99.7% during the fourth quarter. Champlain Investment Partners LLC now owns 2,226,451 shares of the company’s stock valued at $279,531,000 after buying an additional 1,111,550 shares during the period. William Blair Investment Management LLC increased its position in shares of e.l.f. Beauty by 40.9% during the fourth quarter. William Blair Investment Management LLC now owns 2,305,349 shares of the company’s stock valued at $289,437,000 after buying an additional 669,321 shares during the period. Aspex Management HK Ltd purchased a new position in shares of e.l.f. Beauty during the fourth quarter valued at about $73,576,000. Finally, Raymond James Financial Inc. purchased a new position in shares of e.l.f. Beauty during the fourth quarter valued at about $68,775,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ELF. Bank of America boosted their price target on shares of e.l.f. Beauty from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, May 21st. The Goldman Sachs Group dropped their price objective on shares of e.l.f. Beauty from $142.00 to $124.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. B. Riley boosted their price objective on shares of e.l.f. Beauty from $110.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group boosted their price objective on shares of e.l.f. Beauty from $59.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 21st. Finally, Jefferies Financial Group set a $115.00 price objective on shares of e.l.f. Beauty and gave the stock a “buy” rating in a research note on Thursday, May 29th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $124.24.

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 97,915 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $5,224,744.40. Following the transaction, the chief executive officer now owns 181,289 shares in the company, valued at $9,673,581.04. This represents a 35.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joshua Allen Franks sold 51,353 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $53.36, for a total transaction of $2,740,196.08. Following the transaction, the senior vice president now owns 114,660 shares in the company, valued at approximately $6,118,257.60. This trade represents a 30.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,207 shares of company stock worth $25,252,926 over the last quarter. Company insiders own 3.50% of the company’s stock.

e.l.f. Beauty Trading Down 2.7%

Shares of NYSE ELF opened at $125.01 on Monday. The firm’s 50 day moving average price is $78.97 and its 200-day moving average price is $91.08. The company has a market cap of $7.04 billion, a PE ratio of 73.97, a P/E/G ratio of 6.76 and a beta of 1.52. e.l.f. Beauty, Inc. has a 52-week low of $49.40 and a 52-week high of $219.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.17 and a current ratio of 1.90.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Wednesday, May 28th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. The firm had revenue of $332.65 million for the quarter, compared to the consensus estimate of $327.45 million. e.l.f. Beauty had a net margin of 7.55% and a return on equity of 16.88%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. On average, equities research analysts expect that e.l.f. Beauty, Inc. will post 2.38 EPS for the current fiscal year.

e.l.f. Beauty Profile

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.