The Manufacturers Life Insurance Company Makes New $3.04 Million Investment in e.l.f. Beauty $ELF

The Manufacturers Life Insurance Company bought a new position in shares of e.l.f. Beauty (NYSE:ELF) during the 2nd quarter, Holdings Channel.com reports. The fund bought 41,120 shares of the company’s stock, valued at approximately $3,043,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELF. Hilton Head Capital Partners LLC bought a new stake in shares of e.l.f. Beauty in the fourth quarter valued at approximately $32,000. EverSource Wealth Advisors LLC increased its stake in e.l.f. Beauty by 97.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the company’s stock worth $32,000 after acquiring an additional 128 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in e.l.f. Beauty by 58.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 317 shares of the company’s stock valued at $39,000 after acquiring an additional 117 shares in the last quarter. State of Wyoming acquired a new position in e.l.f. Beauty in the 2nd quarter valued at $40,000. Finally, Arax Advisory Partners bought a new stake in shares of e.l.f. Beauty during the 4th quarter valued at $41,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ELF shares. Zacks Research raised e.l.f. Beauty from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $64.00 price objective on shares of e.l.f. Beauty in a research report on Tuesday, June 16th. Sanford C. Bernstein increased their price objective on shares of e.l.f. Beauty from $113.00 to $121.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Bank of America decreased their target price on shares of e.l.f. Beauty from $93.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Finally, Robert W. Baird set a $105.00 target price on shares of e.l.f. Beauty in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $92.12.

Insider Transactions at e.l.f. Beauty

In related news, SVP Joshua Allen Franks sold 5,718 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $100.00, for a total transaction of $571,800.00. Following the sale, the senior vice president owned 144,309 shares of the company’s stock, valued at $14,430,900. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Catherine Hartnett sold 25,357 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $80.00, for a total value of $2,028,560.00. Following the sale, the insider owned 28,699 shares in the company, valued at $2,295,920. This represents a 46.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 140,780 shares of company stock valued at $10,091,078. Corporate insiders own 3.50% of the company’s stock.

e.l.f. Beauty Stock Down 3.2%

ELF stock opened at $105.59 on Wednesday. The stock has a market capitalization of $6.23 billion, a P/E ratio of 105.59, a price-to-earnings-growth ratio of 3.39 and a beta of 1.58. The company has a current ratio of 2.55, a quick ratio of 1.82 and a debt-to-equity ratio of 0.69. e.l.f. Beauty has a 12 month low of $48.82 and a 12 month high of $150.99. The firm has a 50-day moving average price of $85.39 and a 200-day moving average price of $73.43.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $1.04. The company had revenue of $479.37 million for the quarter, compared to the consensus estimate of $431.20 million. e.l.f. Beauty had a net margin of 3.38% and a return on equity of 14.07%. The firm’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same period last year, the company posted $0.89 EPS. e.l.f. Beauty has set its FY 2027 guidance at 3.500-3.550 EPS. As a group, equities research analysts anticipate that e.l.f. Beauty will post 2.64 EPS for the current fiscal year.

About e.l.f. Beauty

e.l.f. Beauty (NYSE: ELF) is an American cosmetics company known for offering an extensive range of affordable, trend-driven makeup and skincare products. The company’s portfolio spans foundations, lipsticks, mascaras, brushes, serums, masks and other beauty essentials, all positioned at accessible price points. e.l.f. Beauty maintains a direct-to-consumer platform through its e-commerce site and engages in widespread retail partnerships with major chains such as Target, Walmart, Ulta Beauty and Amazon.

Founded in 2004 and headquartered in Oakland, California, e.l.f.