Bank of Montreal Can Buys 5,655 Shares of e.l.f. Beauty, Inc. (NYSE:ELF)

Bank of Montreal Can raised its stake in shares of e.l.f. Beauty, Inc. (NYSE:ELF) by 51.5% in the third quarter, Holdings Channel reports. The fund owned 16,645 shares of the company’s stock after acquiring an additional 5,655 shares during the period. Bank of Montreal Can’s holdings in e.l.f. Beauty were worth $1,874,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in e.l.f. Beauty during the 2nd quarter valued at about $6,659,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of e.l.f. Beauty by 1,380.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,284 shares of the company’s stock worth $1,775,000 after buying an additional 15,184 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of e.l.f. Beauty by 33.8% in the second quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock valued at $8,285,000 after acquiring an additional 9,939 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of e.l.f. Beauty by 84.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,259,644 shares of the company’s stock worth $265,432,000 after acquiring an additional 576,383 shares in the last quarter. Finally, Congress Asset Management Co. grew its position in e.l.f. Beauty by 14.2% during the 3rd quarter. Congress Asset Management Co. now owns 503,577 shares of the company’s stock worth $54,905,000 after acquiring an additional 62,480 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. UBS Group lowered their target price on e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Robert W. Baird lowered their price objective on shares of e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Stifel Nicolaus reduced their target price on shares of e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Jefferies Financial Group decreased their price target on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Morgan Stanley dropped their price objective on shares of e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating for the company in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, e.l.f. Beauty has an average rating of “Moderate Buy” and an average price target of $173.53.

Insider Buying and Selling at e.l.f. Beauty

In other e.l.f. Beauty news, Director Maureen C. Watson sold 785 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $130.00, for a total value of $102,050.00. Following the transaction, the director now directly owns 1,888 shares of the company’s stock, valued at $245,440. This represents a 29.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.50% of the company’s stock.

e.l.f. Beauty Stock Performance

Shares of ELF opened at $131.26 on Friday. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 70.95, a PEG ratio of 2.79 and a beta of 1.49. e.l.f. Beauty, Inc. has a 12 month low of $98.50 and a 12 month high of $221.83. The firm has a fifty day simple moving average of $115.29 and a 200 day simple moving average of $150.67. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22.

e.l.f. Beauty (NYSE:ELF) last issued its earnings results on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.34. The business had revenue of $301.10 million for the quarter, compared to the consensus estimate of $289.43 million. e.l.f. Beauty had a net margin of 8.87% and a return on equity of 19.34%. The firm’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. Research analysts forecast that e.l.f. Beauty, Inc. will post 2.8 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.