elf Beauty, Inc. (NYSE:ELF – Get Rating) was the target of a significant drop in short interest in August. As of Aug. 31, 1.88 million shares were short-sold, down 21.0% from 2.38 million shares on Aug. 15. Based on an average daily trading volume of 640,200 shares, the ratio of days covered is currently 2.9 days. About 3.8% of the shares are sold short.
Analyst sets new price target
ELF has been the topic of many analyst reports. Cowen downgraded her elf Beauty stock from an “Outperform” rating to a “Market Performing” rating and set a stock price target at her $36.00. In an investigative report on Friday, August 12. Cowen downgraded elf Beauty’s stock from an “outperform” rating to a “market his perform” rating in her research notes on Friday, Aug. 12. They noted that the move was an evaluation call. TheStreet upgraded elf Beauty’s stock from a ‘c+’ rating to an ‘a-‘ rating in its research notes on Wednesday, August 3. JPMorgan Chase & Co. raised its price target on Elf Beauty stock to $35.00 from $30.00 in its research notes on Thursday, July 21. Finally, Morgan Stanley raised Elf Beauty’s stock price target from his $39.00 to his $42.00, giving it an “overweight” rating in its research notes on Thursday, Aug. 4. Four research analysts rated the stock with a holding rating and eight gave the stock a buy rating. According to MarketBeat data, elf Beauty has an average rating of “moderate buy” and an average target price of $39.22.
Elf Beauty stock performance
ELF shares opened at $39.37 on Friday. His one-year low on elf Beauty is $20.49 and his one-year high is $40.89. The company has an equity ratio of 0.27, a quick ratio of 2.37 and a current ratio of 3.51. The company has a market capitalization of $2.06 billion, a price/earnings ratio of 74.28 and a beta of 1.59. The company has a 50-day simple moving average of $35.91 and a 200-day simple moving average of $29.09.
elf Beauty (NYSE:ELF – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported his earnings per share (EPS) of $0.30 for the quarter, beating consensus expectations of his $0.16 by $0.14. elf Beauty had a net profit margin of 6.69% and a return on equity of 10.95%. The company posted $122.6 million in revenue for the quarter, compared to consensus expectations of $109.42 million. On average, equity analysts expect elf Beauty’s EPS to be 0.63 this fiscal year.
Insider trading at elf Beauty
In other news, insider Mandy J. Fields sold 35,389 shares of Elf Beauty stock in a transaction that took place Thursday, June 30. The shares sold for an average of $30.03, and the total trading value he had was $1,062,731.67. After the sale, the insider now owns his 121,786 shares in the company, worth his $3,657,233.58. The transaction was disclosed in documents filed with the SEC and available at this link. In other news, insider Mandy J. Fields sold 35,389 shares of Elf Beauty stock in a transaction that took place Thursday, June 30. The shares sold for an average of $30.03, and the total trading value he had was $1,062,731.67. After the sale, the insider now owns his 121,786 shares in the company, worth his $3,657,233.58. The transaction was disclosed in documents filed with the SEC and available at this link. CEO Tarang Amin also sold 42,561 shares in elf Beauty in a transaction that took place on Monday, August 1st. The shares sold for an average of $33.87, and the total transaction value he had was $1,441,541.07. After the sale, the CEO now owns 411,915 shares in the company, valued at approximately $13,951,561.05. Please see here for the disclosure of this sale. The insider said that in the past 90 days he has sold 542,746 shares of company stock worth $19,538,088. 8.20% of the shares are currently owned by corporate insiders.
Hedge fund considers fairy beauty
The hedge fund recently changed its holdings. Bank of America Corp DE increased its elf Beauty holdings by 86.4% in the fourth quarter. Bank of America Corp DE now owns 207,094 shares of the company worth $6,878,000 after he purchased an additional 96,016 shares during this period. Dimensional Fund Advisors LP increased his holdings of elf Beauty by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,077,832 shares worth $35,794,000 after purchasing an additional 15,758 shares during this period. BNP Paribas Arbitrage SA increased its Elf Beauty holdings by 33.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 62,316 shares in the company valued at $2,070,000 after purchasing an additional 15,694 shares during this period. Teacher Retirement System of Texas increased its elf Beauty holdings by 22.1% in the fourth quarter. Teacher Retirement System of Texas now owns 9,071 shares worth $301,000 after purchasing an additional 1,642 shares during this period. Finally, Citigroup Inc. increased its elf Beauty holdings by 39.4% in the fourth quarter. Citigroup Inc. now owns 37,094 shares worth $1,232,000 after purchasing an additional 10,477 shares during this period. Institutional investors and hedge funds own 94.61% of the company’s shares.
About Elf Beauty
elf Beauty, Inc, along with its subsidiaries, offers cosmetic and skin care products worldwide under the brand names elf Cosmetics, elf Skin, Well People, and Keys Soulcare. The company offers eye, lip, facial, face, foot, and skin care products. The Company sells its products through domestic and international retailers and direct-to-consumer channels, including e-commerce platforms in the United States, and primarily through distributors internationally.
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