e.l.f. Beauty, Inc. (NYSE:ELF) Short Interest Update

e.l.f. Beauty, Inc. (NYSE:ELF) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 4,920,000 shares, an increase of 9.8% from the October 15th total of 4,480,000 shares. Based on an average daily trading volume, of 2,560,000 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ELF shares. DA Davidson dropped their target price on shares of e.l.f. Beauty from $223.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group dropped their price objective on e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $165.00 target price (up from $162.00) on shares of e.l.f. Beauty in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $235.00 price target on shares of e.l.f. Beauty in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.53.

e.l.f. Beauty Trading Down 1.4 %

Shares of ELF opened at $121.33 on Friday. e.l.f. Beauty has a fifty-two week low of $98.50 and a fifty-two week high of $221.83. The company has a market capitalization of $6.83 billion, a PE ratio of 65.58, a price-to-earnings-growth ratio of 2.69 and a beta of 1.44. The stock has a fifty day moving average of $111.39 and a two-hundred day moving average of $154.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78.

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

Insider Activity at e.l.f. Beauty

In related news, CEO Tarang Amin sold 23,528 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $136.45, for a total value of $3,210,395.60. Following the completion of the sale, the chief executive officer now owns 106,016 shares in the company, valued at $14,465,883.20. This trade represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On e.l.f. Beauty

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its holdings in shares of e.l.f. Beauty by 39.5% in the 3rd quarter. Baillie Gifford & Co. now owns 5,305,692 shares of the company’s stock valued at $578,480,000 after purchasing an additional 1,501,151 shares during the last quarter. State Street Corp boosted its holdings in e.l.f. Beauty by 3.7% in the third quarter. State Street Corp now owns 1,665,203 shares of the company’s stock valued at $181,557,000 after acquiring an additional 59,248 shares during the last quarter. William Blair Investment Management LLC grew its position in e.l.f. Beauty by 12.5% during the second quarter. William Blair Investment Management LLC now owns 1,512,180 shares of the company’s stock valued at $318,647,000 after acquiring an additional 168,267 shares during the period. Clearbridge Investments LLC increased its stake in e.l.f. Beauty by 84.4% during the second 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 during the last quarter. Finally, FMR LLC increased its position in e.l.f. Beauty by 5.5% during the 3rd quarter. FMR LLC now owns 1,186,766 shares of the company’s stock worth $129,393,000 after purchasing an additional 61,524 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.