MetLife Investment Management LLC Reduces Holdings in e.l.f. Beauty, Inc. (NYSE:ELF)

MetLife Investment Management LLC cut its position in e.l.f. Beauty, Inc. (NYSE:ELF) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 31,544 shares of the company’s stock after selling 93 shares during the quarter. MetLife Investment Management LLC’s holdings in e.l.f. Beauty were worth $3,439,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Blueshift Asset Management LLC purchased a new position in e.l.f. Beauty in the 3rd quarter valued at about $514,000. Freedom Investment Management Inc. lifted its stake in shares of e.l.f. Beauty by 66.6% in the third quarter. Freedom Investment Management Inc. now owns 8,284 shares of the company’s stock worth $903,000 after acquiring an additional 3,312 shares in the last quarter. Cynosure Group LLC boosted its holdings in e.l.f. Beauty by 159.9% in the third quarter. Cynosure Group LLC now owns 9,663 shares of the company’s stock valued at $1,054,000 after purchasing an additional 5,945 shares during the last quarter. Townsquare Capital LLC grew its stake in e.l.f. Beauty by 8.1% during the 3rd quarter. Townsquare Capital LLC now owns 41,319 shares of the company’s stock valued at $4,505,000 after purchasing an additional 3,110 shares in the last quarter. Finally, FMR LLC increased its holdings in e.l.f. Beauty by 5.5% during the 3rd quarter. FMR LLC now owns 1,186,766 shares of the company’s stock worth $129,393,000 after purchasing an additional 61,524 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

e.l.f. Beauty Stock Performance

Shares of ELF opened at $127.39 on Wednesday. The firm has a fifty day moving average of $114.35 and a 200-day moving average of $150.91. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 68.86, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78. e.l.f. Beauty, Inc. has a 1 year low of $98.50 and a 1 year high of $221.83.

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

Analyst Upgrades and Downgrades

ELF has been the subject of a number of recent analyst reports. Bank of America decreased 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. UBS Group dropped their target price on shares of e.l.f. Beauty from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. reduced their price target on shares of e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Stifel Nicolaus lowered their price objective on e.l.f. Beauty from $131.00 to $115.00 and set a “hold” rating for the company in a report on Thursday, November 7th. Finally, Robert W. Baird reduced their target price on e.l.f. Beauty from $240.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.53.

Insider Transactions at e.l.f. Beauty

In other e.l.f. Beauty news, Director Maureen C. Watson sold 785 shares of the business’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 sale, the director now directly owns 1,888 shares in the company, valued at approximately $245,440. The trade was a 29.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tarang Amin sold 23,528 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were 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 $14,465,883.20. This trade represents a 18.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

About e.l.f. Beauty

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.