e.l.f. Beauty Sees Unusually High Options Volume (NYSE:ELF)

e.l.f. Beauty, Inc. (NYSE:ELF) saw unusually large options trading on Wednesday. Stock traders acquired 103,332 call options on the company. This is an increase of approximately 607% compared to the average daily volume of 14,614 call options.

e.l.f. Beauty Price Performance

Shares of NYSE ELF traded down $2.81 during trading hours on Wednesday, hitting $118.90. 11,105,385 shares of the stock were exchanged, compared to its average volume of 1,960,523. e.l.f. Beauty has a 1-year low of $98.50 and a 1-year high of $221.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.78. The company’s fifty day simple moving average is $111.79 and its two-hundred day simple moving average is $153.53. The company has a market cap of $6.70 billion, a PE ratio of 61.06, a price-to-earnings-growth ratio of 2.66 and a beta of 1.44.

e.l.f. Beauty (NYSE:ELF) last released its quarterly 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 return on equity of 19.34% and a net margin of 8.87%. The business had revenue of $301.10 million during the quarter, compared to the consensus estimate of $289.43 million. During the same quarter in the previous year, the business earned $0.66 EPS. The company’s quarterly revenue was up 39.7% on a year-over-year basis. On average, sell-side analysts predict that e.l.f. Beauty will post 2.8 EPS for the current year.

Insider Buying and Selling

In other e.l.f. Beauty news, CEO Tarang Amin sold 23,528 shares of e.l.f. Beauty stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $136.45, for a total value of $3,210,395.60. Following the sale, the chief executive officer now owns 106,016 shares of the company’s stock, valued at approximately $14,465,883.20. The trade was a 18.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. bought a new position in e.l.f. Beauty during the second quarter valued at approximately $801,693,000. Champlain Investment Partners LLC bought a new stake in shares of e.l.f. Beauty in the 3rd quarter worth about $121,558,000. Swedbank AB bought a new stake in shares of e.l.f. Beauty during the third quarter worth $76,321,000. Clearbridge Investments LLC increased its holdings 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 purchasing an additional 576,383 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in shares of e.l.f. Beauty by 223.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 555,287 shares of the company’s stock valued at $60,543,000 after purchasing an additional 383,478 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. DA Davidson lowered their price objective on shares of e.l.f. Beauty from $223.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Canaccord Genuity Group lowered their target price on shares of e.l.f. Beauty from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on e.l.f. Beauty from $167.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley cut their price target on e.l.f. Beauty from $184.00 to $139.00 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $165.00 target price (up previously from $162.00) on shares of e.l.f. Beauty in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.53.

e.l.f. Beauty Company 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.