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

e.l.f. Beauty, Inc. (NYSE:ELF) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 3,450,000 shares, a decline of 8.0% from the May 31st total of 3,750,000 shares. Based on an average trading volume of 1,580,000 shares, the days-to-cover ratio is presently 2.2 days.

e.l.f. Beauty Stock Performance

Shares of e.l.f. Beauty stock traded down $2.24 during trading on Wednesday, reaching $201.99. The company’s stock had a trading volume of 580,303 shares, compared to its average volume of 1,591,870. e.l.f. Beauty has a one year low of $88.47 and a one year high of $221.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.95 and a current ratio of 1.60. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 90.99, a price-to-earnings-growth ratio of 5.34 and a beta of 1.46. The business’s fifty day moving average price is $183.54 and its 200-day moving average price is $176.03.

e.l.f. Beauty (NYSE:ELF) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.21 by $0.16. e.l.f. Beauty had a return on equity of 26.64% and a net margin of 12.47%. The company had revenue of $321.14 million for the quarter, compared to the consensus estimate of $292.47 million. As a group, equities research analysts predict that e.l.f. Beauty will post 2.85 earnings per share for the current year.

Insider Activity

In other news, CEO Tarang Amin sold 6,832 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $162.63, for a total value of $1,111,088.16. Following the completion of the sale, the chief executive officer now owns 228,175 shares of the company’s stock, valued at $37,108,100.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other e.l.f. Beauty news, Director Richard G. Wolford sold 11,072 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $181.13, for a total value of $2,005,471.36. Following the transaction, the director now owns 12,741 shares in the company, valued at approximately $2,307,777.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Tarang Amin sold 6,832 shares of e.l.f. Beauty stock in a transaction on Friday, April 5th. The shares were sold at an average price of $162.63, for a total transaction of $1,111,088.16. Following the sale, the chief executive officer now directly owns 228,175 shares of the company’s stock, valued at approximately $37,108,100.25. The disclosure for this sale can be found here. Insiders have sold 256,167 shares of company stock worth $44,029,811 over the last 90 days. 5.20% of the stock is owned by company insiders.

Institutional Trading of e.l.f. Beauty

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in shares of e.l.f. Beauty by 235.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,414,601 shares of the company’s stock worth $265,196,000 after acquiring an additional 1,695,585 shares during the period. Clearbridge Investments LLC bought a new position in e.l.f. Beauty during the first quarter worth about $133,940,000. Norges Bank acquired a new stake in e.l.f. Beauty during the fourth quarter valued at approximately $95,611,000. 1832 Asset Management L.P. bought a new stake in shares of e.l.f. Beauty in the 1st quarter valued at approximately $61,299,000. Finally, Zevenbergen Capital Investments LLC raised its holdings in shares of e.l.f. Beauty by 98.3% in the 4th quarter. Zevenbergen Capital Investments LLC now owns 395,137 shares of the company’s stock worth $57,034,000 after buying an additional 195,854 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ELF. TD Cowen lifted their price objective on e.l.f. Beauty from $190.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Canaccord Genuity Group lifted their price target on e.l.f. Beauty from $214.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. DA Davidson restated a “buy” rating and issued a $220.00 price objective on shares of e.l.f. Beauty in a report on Monday, June 3rd. JPMorgan Chase & Co. cut their price objective on shares of e.l.f. Beauty from $197.00 to $182.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Finally, Bank of America decreased their target price on shares of e.l.f. Beauty from $230.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.93.

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.