Bank of America Corp DE Sells 102,694 Shares of e.l.f. Beauty Inc (ELF)

Bank of America Corp DE trimmed its stake in shares of e.l.f. Beauty Inc (NYSE:ELF) by 92.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,872 shares of the company’s stock after selling 102,694 shares during the quarter. Bank of America Corp DE’s holdings in e.l.f. Beauty were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in e.l.f. Beauty during the second quarter valued at approximately $1,078,000. Nisa Investment Advisors LLC acquired a new stake in e.l.f. Beauty during the second quarter valued at approximately $207,000. NumerixS Investment Technologies Inc acquired a new stake in e.l.f. Beauty during the second quarter valued at approximately $419,000. Stephens Investment Management Group LLC boosted its holdings in e.l.f. Beauty by 3.5% during the second quarter. Stephens Investment Management Group LLC now owns 547,999 shares of the company’s stock valued at $8,763,000 after purchasing an additional 18,724 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in e.l.f. Beauty during the second quarter valued at approximately $10,642,000. 85.55% of the stock is currently owned by institutional investors.

Shares of ELF opened at $12.76 on Monday. The company has a market capitalization of $615.73 million, a PE ratio of 26.58, a price-to-earnings-growth ratio of 5.13 and a beta of 1.35. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.01 and a current ratio of 3.49. e.l.f. Beauty Inc has a one year low of $9.30 and a one year high of $23.85.

e.l.f. Beauty (NYSE:ELF) last announced its earnings results on Monday, November 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.08 by $0.09. The business had revenue of $63.90 million for the quarter, compared to the consensus estimate of $60.09 million. e.l.f. Beauty had a return on equity of 10.60% and a net margin of 10.11%. e.l.f. Beauty’s revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. On average, sell-side analysts expect that e.l.f. Beauty Inc will post 0.36 EPS for the current fiscal year.

In related news, insider Jonathan T. Fieldman sold 68,312 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $13.46, for a total value of $919,479.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John P. Bailey sold 86,600 shares of the business’s stock in a transaction that occurred on Tuesday, October 23rd. The stock was sold at an average price of $10.61, for a total transaction of $918,826.00. The disclosure for this sale can be found here. Insiders sold a total of 751,540 shares of company stock worth $9,420,414 over the last three months. 16.50% of the stock is owned by company insiders.

A number of equities research analysts have weighed in on the company. BMO Capital Markets set a $13.00 price objective on e.l.f. Beauty and gave the company a “hold” rating in a report on Wednesday, August 8th. Piper Jaffray Companies downgraded e.l.f. Beauty from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $17.00 to $23.00 in a report on Thursday, August 9th. Zacks Investment Research raised e.l.f. Beauty from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective on the stock in a report on Thursday, November 8th. Jefferies Financial Group set a $13.00 price objective on e.l.f. Beauty and gave the company a “hold” rating in a report on Thursday. Finally, Stifel Nicolaus reduced their target price on e.l.f. Beauty from $17.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $14.25.

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e.l.f. Beauty Company Profile

e.l.f. Beauty, Inc operates as a beauty company. The company offers cosmetics, including face makeup, eye makeup, lip products, nail products, and cosmetics sets/kits; and skin care products under the e.l.f. brand name. It sells its products through direct-to-consumer channels, which include e-commerce and e.l.f.

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Institutional Ownership by Quarter for e.l.f. Beauty (NYSE:ELF)

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