K.J. Harrison & Partners Inc Makes New Investment in e.l.f. Beauty $ELF

K.J. Harrison & Partners Inc purchased a new stake in e.l.f. Beauty (NYSE:ELF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $740,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of e.l.f. Beauty during the second quarter worth $428,262,000. Vanguard Group Inc. increased its stake in e.l.f. Beauty by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 5,487,304 shares of the company’s stock worth $417,255,000 after purchasing an additional 140,258 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in e.l.f. Beauty by 47.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,197,319 shares of the company’s stock worth $167,086,000 after buying an additional 711,540 shares during the period. State Street Corp lifted its stake in e.l.f. Beauty by 0.8% during the fourth quarter. State Street Corp now owns 1,737,181 shares of the company’s stock valued at $132,095,000 after buying an additional 13,231 shares in the last quarter. Finally, Swedbank AB boosted its holdings in shares of e.l.f. Beauty by 97.0% in the fourth quarter. Swedbank AB now owns 1,364,801 shares of the company’s stock worth $103,779,000 after buying an additional 672,071 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America dropped their target price on shares of 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. B. Riley Financial lifted their price objective on shares of e.l.f. Beauty from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. The Goldman Sachs Group set a $100.00 target price on shares of e.l.f. Beauty in a research note on Thursday, August 6th. Zacks Research upgraded e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Finally, Canaccord Genuity Group lifted their price target on e.l.f. Beauty from $90.00 to $97.00 and gave the company a “buy” rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.81.

e.l.f. Beauty Price Performance

Shares of NYSE:ELF opened at $93.45 on Tuesday. The company has a current ratio of 2.55, a quick ratio of 1.82 and a debt-to-equity ratio of 0.69. e.l.f. Beauty has a 1 year low of $48.82 and a 1 year high of $150.99. The business has a fifty day simple moving average of $76.36 and a 200 day simple moving average of $71.73. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 93.45, a P/E/G ratio of 2.88 and a beta of 1.58.

e.l.f. Beauty (NYSE:ELF) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $1.04. e.l.f. Beauty had a return on equity of 14.07% and a net margin of 3.38%.The firm had revenue of $479.37 million during the quarter, compared to analysts’ expectations of $431.20 million. During the same quarter last year, the firm earned $0.89 earnings per share. The business’s revenue for the quarter was up 35.5% on a year-over-year basis. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. As a group, sell-side analysts predict that e.l.f. Beauty will post 2.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Scott Milsten sold 4,162 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $51.53, for a total value of $214,467.86. Following the transaction, the insider owned 144,581 shares in the company, valued at approximately $7,450,258.93. This represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jennifer Catherine Hartnett sold 25,357 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.00, for a total transaction of $2,028,560.00. Following the transaction, the insider directly owned 28,699 shares in the company, valued at approximately $2,295,920. The trade was a 46.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 134,028 shares of company stock worth $9,422,961 in the last quarter. Corporate insiders own 3.50% of the company’s stock.

About e.l.f. Beauty

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.