Fifth Third Wealth Advisors LLC Makes New $223,000 Investment in e.l.f. Beauty, Inc. (NYSE:ELF)

Fifth Third Wealth Advisors LLC acquired a new stake in e.l.f. Beauty, Inc. (NYSE:ELF) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,776 shares of the company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Canada Pension Plan Investment Board purchased a new position in e.l.f. Beauty in the second quarter valued at approximately $6,659,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of e.l.f. Beauty by 1,380.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,284 shares of the company’s stock valued at $1,775,000 after buying an additional 15,184 shares in the last quarter. Cetera Investment Advisers grew its position in shares of e.l.f. Beauty by 33.8% in the 2nd quarter. Cetera Investment Advisers now owns 39,319 shares of the company’s stock valued at $8,285,000 after buying an additional 9,939 shares during the last quarter. Clearbridge Investments LLC raised its stake in e.l.f. Beauty by 84.4% during the 2nd 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 in the last quarter. Finally, Congress Asset Management Co. lifted its position in e.l.f. Beauty by 14.2% in the third quarter. Congress Asset Management Co. now owns 503,577 shares of the company’s stock valued at $54,905,000 after acquiring an additional 62,480 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

e.l.f. Beauty Price Performance

Shares of ELF opened at $127.17 on Friday. The firm has a market capitalization of $7.16 billion, a PE ratio of 68.74, a P/E/G ratio of 2.17 and a beta of 1.50. The stock’s 50 day moving average is $129.27 and its two-hundred day moving average is $136.94. e.l.f. Beauty, Inc. has a twelve month low of $98.50 and a twelve month high of $221.83. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.77 earnings per share for the quarter, topping 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 firm had revenue of $301.10 million for the quarter, compared to analyst estimates of $289.43 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. e.l.f. Beauty’s quarterly revenue was up 39.7% on a year-over-year basis. Research analysts anticipate that e.l.f. Beauty, Inc. will post 2.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ELF shares. UBS Group raised their price objective on e.l.f. Beauty from $156.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group initiated coverage on e.l.f. Beauty in a research note on Friday, December 13th. They set a “buy” rating and a $165.00 price target on the stock. Stifel Nicolaus reduced their price objective on e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group lowered their target price on shares of e.l.f. Beauty from $220.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Bank of America reduced their price target on shares of e.l.f. Beauty from $190.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, e.l.f. Beauty currently has a consensus rating of “Moderate Buy” and an average target price of $169.06.

Insider Activity

In other e.l.f. Beauty news, Director Maureen C. Watson sold 785 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $130.00, for a total transaction of $102,050.00. Following the transaction, the director now directly owns 1,888 shares in the company, valued at approximately $245,440. This represents a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Tarang Amin sold 890 shares of e.l.f. Beauty stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $137.60, for a total transaction of $122,464.00. Following the sale, the chief executive officer now owns 99,699 shares of the company’s stock, valued at approximately $13,718,582.40. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,205 shares of company stock worth $297,442 in the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

e.l.f. Beauty Company Profile

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.