Beacon Harbor Wealth Advisors Inc. Makes New Investment in e.l.f. Beauty, Inc. (NYSE:ELF)

Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of e.l.f. Beauty, Inc. (NYSE:ELF) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 45,676 shares of the company’s stock, valued at approximately $6,593,000. e.l.f. Beauty comprises approximately 1.9% of Beacon Harbor Wealth Advisors Inc.’s holdings, making the stock its 13th biggest holding.

Other hedge funds also recently modified their holdings of the company. Armstrong Advisory Group Inc. raised its position in shares of e.l.f. Beauty by 390.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 201 shares of the company’s stock valued at $29,000 after buying an additional 160 shares during the last quarter. BluePath Capital Management LLC acquired a new position in e.l.f. Beauty in the 3rd quarter valued at approximately $34,000. GPS Wealth Strategies Group LLC lifted its position in shares of e.l.f. Beauty by 66.4% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 243 shares of the company’s stock worth $35,000 after acquiring an additional 97 shares during the period. GAMMA Investing LLC acquired a new stake in shares of e.l.f. Beauty during the 4th quarter worth approximately $42,000. Finally, First Horizon Advisors Inc. increased its position in shares of e.l.f. Beauty by 38.0% during the fourth quarter. First Horizon Advisors Inc. now owns 338 shares of the company’s stock valued at $49,000 after purchasing an additional 93 shares during the period. 92.44% of the stock is owned by institutional investors.

e.l.f. Beauty Price Performance

Shares of e.l.f. Beauty stock traded up $1.50 during midday trading on Thursday, reaching $160.02. The company had a trading volume of 669,976 shares, compared to its average volume of 1,581,806. The company has a current ratio of 1.50, a quick ratio of 0.83 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $186.08 and a 200 day simple moving average of $153.16. e.l.f. Beauty, Inc. has a 1-year low of $83.80 and a 1-year high of $221.83. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 70.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.60.

e.l.f. Beauty (NYSE:ELF) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The firm had revenue of $270.94 million for the quarter, compared to analyst estimates of $239.66 million. e.l.f. Beauty had a return on equity of 28.98% and a net margin of 14.53%. As a group, equities research analysts forecast that e.l.f. Beauty, Inc. will post 2.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. StockNews.com cut e.l.f. Beauty from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Truist Financial raised their price objective on shares of e.l.f. Beauty from $150.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Robert W. Baird began coverage on shares of e.l.f. Beauty in a research note on Tuesday, January 30th. They issued a “neutral” rating and a $185.00 target price on the stock. DA Davidson restated a “buy” rating and set a $220.00 price target on shares of e.l.f. Beauty in a research note on Monday, April 8th. Finally, Bank of America upped their price objective on e.l.f. Beauty from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $184.33.

Insider Activity at e.l.f. Beauty

In other e.l.f. Beauty news, insider Mandy J. Fields sold 1,250 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $174.90, for a total transaction of $218,625.00. Following the completion of the sale, the insider now directly owns 77,146 shares of the company’s stock, valued at approximately $13,492,835.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other e.l.f. Beauty news, insider Mandy J. Fields sold 1,250 shares of e.l.f. Beauty stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $174.90, for a total transaction of $218,625.00. Following the completion of the sale, the insider now owns 77,146 shares of the company’s stock, valued at approximately $13,492,835.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tarang Amin sold 23,519 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $198.89, for a total transaction of $4,677,693.91. Following the sale, the chief executive officer now owns 10,889 shares of the company’s stock, valued at approximately $2,165,713.21. The disclosure for this sale can be found here. Insiders have sold a total of 178,081 shares of company stock worth $30,457,064 over the last 90 days. Insiders own 5.20% of the company’s stock.

e.l.f. Beauty 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.