Wellington Management Group LLP Trims Stake in e.l.f. Beauty, Inc. (NYSE:ELF)

Wellington Management Group LLP lowered its holdings in e.l.f. Beauty, Inc. (NYSE:ELF) by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,235,917 shares of the company’s stock after selling 194,297 shares during the period. Wellington Management Group LLP owned approximately 3.96% of e.l.f. Beauty worth $280,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of e.l.f. Beauty in the third quarter worth approximately $25,000. Promus Capital LLC bought a new position in shares of e.l.f. Beauty in the 4th quarter worth $31,000. Kestra Investment Management LLC purchased a new stake in shares of e.l.f. Beauty during the 4th quarter valued at $32,000. Financial Life Planners bought a new stake in shares of e.l.f. Beauty during the 4th quarter worth $46,000. Finally, Quarry LP purchased a new position in e.l.f. Beauty in the third quarter worth $62,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

e.l.f. Beauty Stock Performance

Shares of ELF stock opened at $64.30 on Wednesday. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 6.76 and a beta of 1.60. The stock has a fifty day moving average of $76.75 and a 200 day moving average of $105.03. e.l.f. Beauty, Inc. has a 52 week low of $60.35 and a 52 week high of $219.77. The company has a quick ratio of 1.17, a current ratio of 1.90 and a debt-to-equity ratio of 0.20.

e.l.f. Beauty (NYSE:ELF) last posted its earnings results on Thursday, February 6th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.35). e.l.f. Beauty had a return on equity of 16.88% and a net margin of 7.55%. As a group, research analysts expect that e.l.f. Beauty, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on e.l.f. Beauty from $154.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Raymond James cut their target price on e.l.f. Beauty from $175.00 to $120.00 and set a “strong-buy” rating for the company in a research note on Friday, February 7th. Morgan Stanley reissued an “equal weight” rating and set a $70.00 price target (down from $153.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. UBS Group reaffirmed a “neutral” rating and issued a $74.00 price objective (down previously from $158.00) on shares of e.l.f. Beauty in a research note on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of e.l.f. Beauty in a research report on Thursday, December 12th. They issued a “hold” rating and a $133.00 target price on the stock. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.24.

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

In other news, Director Maureen C. Watson sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $67.39, for a total value of $269,560.00. Following the completion of the transaction, the director now owns 1,888 shares in the company, valued at $127,232.32. This trade represents a 67.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.50% of the company’s stock.

About e.l.f. Beauty

e.l.f. Beauty, Inc is a holding company, which engages in the provision of inclusive, accessible, clean, vegan and cruelty free cosmetics and skin care products. The company focuses on the e-commerce, national retailers and international business channels. Its brands include elf, elf skin, WELL People and KEYS soulcare.