Congress Asset Management Co. MA, a prominent investment management firm, has recently reduced its stake in e.l.f. Beauty, Inc. by 11.4% during the second quarter of this year. According to the filing submitted to the Securities and Exchange Commission (SEC), the company now owns 518,723 shares of e.l.f. Beauty’s stock after selling 66,558 shares in this quarter. Based on the most recent SEC filing, Congress Asset Management Co. MA’s ownership represents 0.95% of e.l.f. Beauty, translating to a market value of $59,254,000 as of that date.
In addition to this development, one of e.l.f Beauty’s directors named Tiffany F. Daniele also made a notable transaction involving the company’s stocks on August 31st. Daniele sold 1,253 shares at an average price of $139.09 per share, amounting to a total transaction value of $174,279.77. Following this sale, the director now holds 4,813 shares in the company which are currently valued at around $669,440.
Furthermore, another significant sale occurred within e.l.f Beauty when CEO Tarang Amin sold 11,760 shares on October 5th for an average price of $96.81 per share. The total value of this transaction reached $1,1384856..60 million USD/. After completing this sale, Amin currently possesses approximately 140,671 shares valued at roughly $13,.62 million.
These transactions were revealed through legal filings with the SEC and are available for public access through their website.
It is worth mentioning that Director Tiffany F.Daniele conducted another stock sale on Thursday,August31.The director sold 1253 shares during that day at an average price per share being %139 .09.it costed her about$174,-,$279.as a result,Tiffancy. F.Daniele no directs hold 4.813 shares of the company’s stock.Which are equivalent to a value of $669,000
Recent disclosures show that within the past 90 days, insiders have sold an astounding 134,841 shares of e.l.f Beauty amounting to a total worth of $17,556,330. This represents approximately 5.20% ownership of the company’s stock held by insiders.
Despite these recent transactions, e.l.f.s Beauty remains a strong contender in the market with its wide range of beauty and skincare products. The company has established a loyal customer base and continues to attract new consumers with its affordable yet high-quality offerings. Investors will be closely monitoring e.l.f. Beauty’s future performance following Congress Asset Management Co. MA’s reduction in stake and the executives’ selling activities, as these factors can potentially impact the overall market perception and valuation of the company.
As always, investors are advised to conduct thorough research and analysis before making any investment decisions based on information involving insider transactions and changes in shareholding patterns within a company.
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Hedge Funds and Institutional Investors Adjust Positions in e.l.f Beauty (NYSE: ELF) as Research Reports Provide Ratings and Price Targets
In recent months, a number of hedge funds and institutional investors have made significant adjustments to their positions in e.l.f. Beauty (NYSE: ELF). Among these changes, BlackRock Inc. has increased its holdings by 0.9% during the first quarter, now owning 7,287,057 shares with a value of $188,224,000. Vanguard Group Inc. has also boosted its holdings by 8.9% in the third quarter, now owning 6,147,304 shares with a value of $231,262,000.
State Street Corp has shown an increase of 4.1% in its ownership during the first quarter and currently holds 1,690,974 shares worth $139,252,000. Assenagon Asset Management S.A., on the other hand, has seen a considerable rise in its position by 140% during the same period and now owns 1,553,238 shares valued at $127,909,000. Renaissance Technologies LLC has grown its position by 22.7%, currently holding 1,436,412 shares valued at $118,289.
It is worth mentioning that hedge funds and other institutional investors own approximately 92.44% of e.l.f Beauty’s stock.
e.l.f Beauty has recently received attention from research reports as well. Morgan Stanley lowered their target price from $162 to $147 while maintaining an “overweight” rating for the company on September 27th. Raymond James raised their target price from $125 to $145 and assigned an “outperform” rating on August 2nd.
JPMorgan Chase & Co also lifted their price objective for e.l.f Beauty from $129 to $150 with an “overweight”rating on August 2nd while Truist Financial raised their target price from $135 to $150 on September14th giving the stock a “buy” rating. Lastly, Stifel Nicolaus increased their price objective to $127 from $107 and maintained a “hold” rating on August 2nd.
Currently, the average rating for e.l.f Beauty on Bloomberg.com is “Moderate Buy,” with three equities research analysts assigning a hold rating and ten assigning a buy rating. The consensus target price for the stock is $134.42.
On Wednesday, October 12th, shares of e.l.f Beauty were trading at $104.25, up by $2.43 during midday trading. The stock’s trading volume was 557,914 shares compared to an average volume of 1,082,370 shares. It has a 50-day moving average price of $121.99 and a 200-day moving average price of $107.48.
e.l.f Beauty has a current ratio of 3.38 and a quick ratio of 2.48, indicating its liquidity position. The company boasts a market capitalization of $5.69 billion with a P/E ratio of 57.52 and a beta value of 1.54.
In its last earnings release on Tuesday, August 1st, e.l.f Beauty reported earnings per share (EPS) of $1.00 for the quarter, surpassing the consensus estimate of $0.49 by $0.51. The company generated revenue totaling $216.34 million during the quarter as opposed to analysts’ expectations of $184.92 million.
With a net margin of 14.,87% and a return on equity (ROE) standing at 26.,43%, e.l.f Beauty continues to exhibit financial strength in its operations.
Equity research analysts predict that e.l.f Beauty will achieve earnings per share (EPS) forecasts amounting to two for the current fiscal year.
