Granite Investment Partners LLC Acquires 35,883 Shares of e.l.f. Beauty $ELF

Granite Investment Partners LLC boosted its stake in e.l.f. Beauty (NYSE:ELF) by 53.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,433 shares of the company’s stock after purchasing an additional 35,883 shares during the quarter. Granite Investment Partners LLC’s holdings in e.l.f. Beauty were worth $6,208,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ELF. EverSource Wealth Advisors LLC lifted its position in e.l.f. Beauty by 97.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock valued at $32,000 after acquiring an additional 128 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of e.l.f. Beauty by 58.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock valued at $39,000 after purchasing an additional 117 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in e.l.f. Beauty in the fourth quarter worth about $26,000. Hilton Head Capital Partners LLC purchased a new position in e.l.f. Beauty in the fourth quarter valued at approximately $32,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of e.l.f. Beauty during the 3rd quarter valued at $64,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ELF shares. Citigroup reduced their price target on e.l.f. Beauty from $115.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Raymond James Financial restated a “strong-buy” rating and set a $85.00 price target on shares of e.l.f. Beauty in a research report on Thursday, May 21st. Piper Sandler reaffirmed a “neutral” rating on shares of e.l.f. Beauty in a report on Friday, June 12th. Bank of America lowered their price objective on e.l.f. Beauty from $93.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Finally, Morgan Stanley dropped their price objective on e.l.f. Beauty from $67.00 to $59.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.31.

Insider Buying and Selling

In related news, insider Mandy J. Fields sold 23,656 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $63.66, for a total value of $1,505,940.96. Following the transaction, the insider owned 77,437 shares of the company’s stock, valued at $4,929,639.42. This represents a 23.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kory Marchisotto sold 23,796 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $63.66, for a total value of $1,514,853.36. Following the sale, the insider owned 152,417 shares in the company, valued at $9,702,866.22. The trade was a 13.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 278,988 shares of company stock valued at $18,354,580 in the last three months. 3.90% of the stock is owned by corporate insiders.

e.l.f. Beauty Trading Down 1.5%

Shares of ELF opened at $74.20 on Thursday. The firm’s 50 day simple moving average is $60.80 and its 200 day simple moving average is $71.81. The company has a market capitalization of $4.41 billion, a P/E ratio of 161.31, a P/E/G ratio of 2.93 and a beta of 1.59. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.35 and a quick ratio of 1.69. e.l.f. Beauty has a 1-year low of $48.82 and a 1-year high of $150.99.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings results on Wednesday, May 20th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $449.29 million during the quarter, compared to analysts’ expectations of $423.06 million. e.l.f. Beauty had a net margin of 1.61% and a return on equity of 11.02%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. e.l.f. Beauty has set its FY 2027 guidance at 3.270-3.320 EPS. Sell-side analysts forecast that e.l.f. Beauty will post 2.42 earnings per share for the current fiscal year.

e.l.f. Beauty Company Profile

e.l.f. Beauty (NYSE: ELF) is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company’s portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.