Short Interest in e.l.f. Beauty (NYSE:ELF) Declines By 47.8%

e.l.f. Beauty (NYSE:ELF) was the recipient of a significant decline in short interest in August. As of August 14th, there was short interest totaling 4,186,787 shares, a decline of 47.8% from the July 30th total of 8,016,841 shares. Approximately 7.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,197,906 shares, the short-interest ratio is presently 1.3 days.

e.l.f. Beauty Trading Down 1.9%

NYSE:ELF traded down $1.97 during trading hours on Friday, hitting $104.20. 1,242,952 shares of the stock were exchanged, compared to its average volume of 2,440,358. The company has a market capitalization of $6.15 billion, a P/E ratio of 104.20, a price-to-earnings-growth ratio of 3.24 and a beta of 1.58. The company has a quick ratio of 1.82, a current ratio of 2.55 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $83.63 and its two-hundred day moving average is $72.98. e.l.f. Beauty has a twelve month low of $48.82 and a twelve month high of $150.99.

e.l.f. Beauty (NYSE:ELF) last released its earnings results on Wednesday, August 5th. The company reported $1.75 EPS for the quarter, beating the consensus estimate of $0.71 by $1.04. The company had revenue of $479.37 million during the quarter, compared to analysts’ expectations of $431.20 million. e.l.f. Beauty had a return on equity of 14.07% and a net margin of 3.38%.The business’s revenue for the quarter was up 35.5% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. On average, sell-side analysts anticipate that e.l.f. Beauty will post 2.64 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Lauren Cooks Levitan sold 1,034 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $93.15, for a total transaction of $96,317.10. Following the completion of the sale, the director owned 10,516 shares of the company’s stock, valued at approximately $979,565.40. This trade represents a 8.95% 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 e.l.f. Beauty 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 completion of the transaction, the insider owned 28,699 shares of the company’s stock, valued at $2,295,920. This trade represents a 46.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 140,780 shares of company stock valued at $10,091,078. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of e.l.f. Beauty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in e.l.f. Beauty by 97.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock worth $32,000 after purchasing an additional 128 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of e.l.f. Beauty by 58.5% in 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. Hilton Head Capital Partners LLC acquired a new stake in shares of e.l.f. Beauty during the 4th quarter worth approximately $32,000. Continuum Advisory LLC acquired a new stake in shares of e.l.f. Beauty during the 2nd quarter worth approximately $31,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of e.l.f. Beauty during the third quarter worth approximately $64,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ELF has been the subject of several research analyst reports. Weiss Ratings upgraded e.l.f. Beauty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. decreased their target price on e.l.f. Beauty from $111.00 to $106.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Sanford C. Bernstein raised their target price on e.l.f. Beauty from $113.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Canaccord Genuity Group lifted their price target on e.l.f. Beauty from $110.00 to $123.00 and gave the company a “buy” rating in a report on Thursday. Finally, Robert W. Baird set a $105.00 price target on shares of e.l.f. Beauty in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.12.

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.