Mitsubishi UFJ Asset Management Co. Ltd. has reduced its stake in e.l.f. Beauty (NYSE: ELF) by 5.1% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The fund’s holdings decreased to 38,333 shares after selling 2,080 shares during this period. As of the latest disclosure, Mitsubishi UFJ Asset Management’s stake in e.l.f. Beauty is valued at approximately $4.77 million, representing about 0.07% of the company.
Other institutional investors have also made notable adjustments to their holdings in e.l.f. Beauty. For instance, Larson Financial Group LLC increased its position by 56.5% in the first quarter, now owning 676 shares valued at $42,000 following an additional purchase of 244 shares. Similarly, Smartleaf Asset Management LLC raised its stake by a remarkable 577.7%, now holding 759 shares worth $49,000.
Huntington National Bank also boosted its investment by 133.3% in the second quarter, acquiring an additional 244 shares to reach 427 shares valued at $53,000. Signaturefd LLC increased its holdings by 27.9%, now owning 858 shares valued at $54,000. Brooklyn Investment Group made a substantial increase as well, raising its stake by an astonishing 6,242.9% to now hold 888 shares valued at $56,000. Currently, institutional investors own 92.44% of e.l.f. Beauty’s stock.
Recent Insider Transactions Raise Attention
In addition to institutional trading, there have been significant insider transactions at e.l.f. Beauty. On September 10, 2023, insider Scott Milsten sold 55,581 shares at an average price of $134.56, amounting to a total of $7,478,979.36. Following this sale, Milsten retains 112,406 shares, now valued at $15,125,351.36, indicating a 33.09% reduction in his ownership.
Another insider, Kory Marchisotto, sold 13,515 shares on September 12, 2023, for a total of $1,893,451.50 at an average price of $140.10. After this transaction, Marchisotto owns 144,788 shares, valued at $20,284,798.80, reflecting an 8.54% decrease in ownership. In the past three months, insiders have sold a total of 296,430 shares for a combined value of $40,444,041. Currently, company insiders hold 3.90% of the firm’s stock.
Market Performance and Future Outlook
Shares of e.l.f. Beauty opened at $74.28 on Friday. The company has a fifty-day moving average of $126.34 and a 200-day moving average of $114.57. The firm reports a market capitalization of $4.43 billion with a price-to-earnings ratio of 52.31. e.l.f. Beauty’s debt-to-equity ratio stands at 0.73, while its current ratio is 2.70 and quick ratio at 1.76.
The company has experienced stock price fluctuations, with a one-year low of $49.40 and a high of $150.99. In its latest earnings report on November 5, 2023, e.l.f. Beauty reported earnings per share (EPS) of $0.68, exceeding analysts’ expectations of $0.57 by $0.11. Revenue for the quarter reached $343.94 million, though this fell short of the consensus estimate of $367.89 million. The company’s net margin was 5.90% and return on equity was 13.77%, with a year-over-year revenue increase of 14.2%.
For the fiscal year 2026, e.l.f. Beauty has set its earnings guidance between $2.800 and $2.850 per share. Analysts project an average EPS of $2.38 for the current fiscal year.
e.l.f. Beauty, Inc., is a holding company specializing in inclusive, accessible, clean, vegan, and cruelty-free cosmetics and skincare products. The company operates through various channels, including e-commerce, national retailers, and international businesses, with notable brands such as e.l.f., e.l.f. skin, WELL People, and KEYS soulcare.
