Did e.l.f. Beauty Inc (ELF) Manage to Capture the Attention of Hedge Funds?

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Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as e.l.f. Beauty Inc (NYSE:ELF) but similarly valued. We will take a look at Glaukos Corp (NYSE:GKOS), Knowles Corp (NYSE:KN), Sonic Corporation (NASDAQ:SONC), and Evertec Inc (NYSE:EVTC). This group of stocks’ market values are close to ELF’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GKOS 19 175123 3
KN 11 18331 1
SONC 22 325006 4
EVTC 19 256706 3

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $194 million. That figure was $62 million in ELF’s case. Sonic Corporation (NASDAQ:SONC) is the most popular stock in this table with 22 funds holding shares. On the other hand Knowles Corp (NYSE:KN) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks e.l.f. Beauty Inc (NYSE:ELF) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none

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