Cercano Management LLC Makes New $24 Million Investment in e.l.f. Beauty, Inc. (NYSE:ELF)

Cercano Management LLC purchased a new position in e.l.f. Beauty, Inc. (NYSE:ELF) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 166,271 shares of the company’s stock, valued at approximately $24,000,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of e.l.f. Beauty by 235.8% in the third quarter. Wellington Management Group LLP now owns 2,414,601 shares of the company’s stock worth $265,196,000 after purchasing an additional 1,695,585 shares during the last quarter. FMR LLC raised its stake in shares of e.l.f. Beauty by 641.2% in the third quarter. FMR LLC now owns 832,404 shares of the company’s stock worth $91,423,000 after purchasing an additional 720,098 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of e.l.f. Beauty by 58.2% in the third quarter. William Blair Investment Management LLC now owns 1,424,268 shares of the company’s stock worth $156,427,000 after purchasing an additional 523,903 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of e.l.f. Beauty by 152.6% in the third quarter. Lord Abbett & CO. LLC now owns 421,219 shares of the company’s stock worth $46,262,000 after purchasing an additional 254,469 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of e.l.f. Beauty by 52.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 607,359 shares of the company’s stock worth $66,706,000 after purchasing an additional 208,263 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ELF shares. Morgan Stanley increased their price target on e.l.f. Beauty from $168.00 to $184.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. StockNews.com downgraded e.l.f. Beauty from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. TD Cowen raised e.l.f. Beauty from a “hold” rating to a “buy” rating and decreased their price target for the company from $220.00 to $190.00 in a research report on Wednesday, April 17th. Piper Sandler increased their price target on e.l.f. Beauty from $225.00 to $228.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Finally, Bank of America increased their price target on e.l.f. Beauty from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $184.33.

Insider Transactions at e.l.f. Beauty

In other news, insider Mandy J. Fields sold 1,250 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $174.90, for a total value of $218,625.00. Following the completion of the transaction, the insider now directly owns 77,146 shares of the company’s stock, valued at $13,492,835.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Mandy J. Fields sold 1,250 shares of e.l.f. Beauty stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $174.90, for a total transaction of $218,625.00. Following the completion of the sale, the insider now owns 77,146 shares of the company’s stock, valued at $13,492,835.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Joshua Allen Franks sold 12,506 shares of e.l.f. Beauty stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $172.50, for a total value of $2,157,285.00. Following the sale, the senior vice president now directly owns 86,237 shares of the company’s stock, valued at approximately $14,875,882.50. The disclosure for this sale can be found here. Insiders sold 178,081 shares of company stock valued at $30,457,064 over the last three months. Company insiders own 5.20% of the company’s stock.

e.l.f. Beauty Stock Performance

NYSE:ELF traded up $3.60 during trading hours on Friday, reaching $179.63. The stock had a trading volume of 1,512,347 shares, compared to its average volume of 1,870,720. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.83 and a current ratio of 1.50. The stock has a 50 day simple moving average of $186.57 and a 200 day simple moving average of $151.86. e.l.f. Beauty, Inc. has a 12-month low of $83.80 and a 12-month high of $221.83. The stock has a market cap of $9.97 billion, a P/E ratio of 79.48, a price-to-earnings-growth ratio of 1.69 and a beta of 1.57.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. e.l.f. Beauty had a return on equity of 28.98% and a net margin of 14.53%. The firm had revenue of $270.94 million during the quarter, compared to analyst estimates of $239.66 million. On average, research analysts forecast that e.l.f. Beauty, Inc. will post 2.5 EPS for the current fiscal year.

About e.l.f. Beauty

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.