e.l.f. Beauty Sees Unusually High Options Volume (NYSE:ELF)

e.l.f. Beauty, Inc. (NYSE:ELF) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 103,332 call options on the company. This is an increase of approximately 607% compared to the typical daily volume of 14,614 call options.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ELF. DA Davidson dropped their price objective on shares of e.l.f. Beauty from $223.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Truist Financial cut their price target on e.l.f. Beauty from $210.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Piper Sandler reiterated an “overweight” rating and set a $165.00 price objective (up previously from $162.00) on shares of e.l.f. Beauty in a research note on Thursday, November 7th. Jefferies Financial Group cut their target price on 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, B. Riley lowered their price target on e.l.f. Beauty from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, e.l.f. Beauty has a consensus rating of “Moderate Buy” and a consensus target price of $173.53.

Insider Activity

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $136.45, for a total transaction of $3,210,395.60. Following the completion of the transaction, the chief executive officer now owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. This trade represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.50% of the company’s stock.

Institutional Trading of e.l.f. Beauty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management increased its stake in shares of e.l.f. Beauty by 3.2% in the 2nd quarter. Picton Mahoney Asset Management now owns 2,430 shares of the company’s stock worth $512,000 after purchasing an additional 75 shares in the last quarter. Hanseatic Management Services Inc. increased its position in e.l.f. Beauty by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 4,507 shares of the company’s stock worth $950,000 after buying an additional 77 shares in the last quarter. Portside Wealth Group LLC raised its stake in shares of e.l.f. Beauty by 3.2% in the second quarter. Portside Wealth Group LLC now owns 2,982 shares of the company’s stock worth $628,000 after buying an additional 93 shares during the period. GAMMA Investing LLC lifted its position in shares of e.l.f. Beauty by 27.8% during the 2nd quarter. GAMMA Investing LLC now owns 451 shares of the company’s stock valued at $95,000 after buying an additional 98 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in shares of e.l.f. Beauty by 2.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,777 shares of the company’s stock valued at $1,007,000 after acquiring an additional 99 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

e.l.f. Beauty Price Performance

NYSE ELF opened at $119.05 on Thursday. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 61.06, a PEG ratio of 2.66 and a beta of 1.44. e.l.f. Beauty has a 1-year low of $98.50 and a 1-year high of $221.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 1.01. The business’s fifty day moving average price is $111.79 and its 200-day moving average price is $153.53.

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

e.l.f. Beauty Company Profile

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.