Insider Buying: Olaplex Holdings, Inc. (NASDAQ:OLPX) Director Acquires 8,100 Shares of Stock

Olaplex Holdings, Inc. (NASDAQ:OLPX) Director John P. Bilbrey acquired 8,100 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were bought at an average price of $2.29 per share, for a total transaction of $18,549.00. Following the completion of the purchase, the director now owns 58,100 shares in the company, valued at approximately $133,049. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Olaplex Trading Down 7.5 %

Shares of NASDAQ:OLPX opened at $2.09 on Tuesday. Olaplex Holdings, Inc. has a 12-month low of $2.03 and a 12-month high of $12.58. The company has a market cap of $1.37 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.57 and a beta of 1.72. The stock has a 50 day moving average of $3.10 and a 200 day moving average of $3.54. The company has a current ratio of 9.32, a quick ratio of 7.22 and a debt-to-equity ratio of 0.80.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $109.24 million during the quarter, compared to analysts’ expectations of $129.86 million. Olaplex had a return on equity of 21.92% and a net margin of 22.92%. The business’s revenue for the quarter was down 48.2% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. As a group, equities research analysts expect that Olaplex Holdings, Inc. will post 0.15 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on OLPX. The Goldman Sachs Group decreased their price objective on shares of Olaplex from $6.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. Canaccord Genuity Group lowered shares of Olaplex from a “buy” rating to a “hold” rating and dropped their target price for the stock from $5.00 to $3.00 in a report on Friday, August 11th. Morgan Stanley dropped their target price on shares of Olaplex from $4.00 to $3.65 and set an “equal weight” rating for the company in a research report on Wednesday, August 9th. Piper Sandler lowered Olaplex from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $3.00 to $2.00 in a research report on Friday, August 25th. Finally, Truist Financial lowered their target price on shares of Olaplex from $15.00 to $7.00 in a report on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.63.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OLPX. Treasurer of the State of North Carolina boosted its stake in shares of Olaplex by 42.3% during the 1st quarter. Treasurer of the State of North Carolina now owns 238,356 shares of the company’s stock worth $1,018,000 after purchasing an additional 70,886 shares during the period. Landscape Capital Management L.L.C. raised its holdings in shares of Olaplex by 31.7% in the first quarter. Landscape Capital Management L.L.C. now owns 26,833 shares of the company’s stock worth $115,000 after buying an additional 6,466 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Olaplex by 151.6% during the first quarter. Envestnet Asset Management Inc. now owns 594,638 shares of the company’s stock worth $542,000 after buying an additional 358,336 shares during the period. FDx Advisors Inc. purchased a new stake in shares of Olaplex during the fourth quarter valued at $131,000. Finally, Aviva PLC increased its holdings in shares of Olaplex by 43.2% in the fourth quarter. Aviva PLC now owns 199,127 shares of the company’s stock valued at $34,429,000 after purchasing an additional 60,088 shares during the period. 90.87% of the stock is currently owned by institutional investors.

About Olaplex

Olaplex Holdings, Inc develops, manufactures, and sells hair care products. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.