Investors Purchase Large Volume of Call Options on Olaplex (NASDAQ:OLPX)

Olaplex Holdings, Inc. (NASDAQ:OLPX) saw unusually large options trading on Friday. Traders acquired 2,472 call options on the company. This is an increase of 274% compared to the average daily volume of 661 call options.

Insiders Place Their Bets

In other Olaplex news, VP Kristi A. Belhumeur sold 42,480 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1.68, for a total transaction of $71,366.40. Following the completion of the sale, the vice president now directly owns 294,553 shares of the company’s stock, valued at approximately $494,849.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.20% of the stock is owned by insiders.

Institutional Trading of Olaplex

Hedge funds have recently modified their holdings of the business. Waldron Private Wealth LLC raised its holdings in Olaplex by 62.0% during the fourth quarter. Waldron Private Wealth LLC now owns 16,227 shares of the company’s stock worth $41,000 after purchasing an additional 6,213 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Olaplex by 27.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,957 shares of the company’s stock worth $60,000 after purchasing an additional 6,614 shares during the last quarter. Catalina Capital Group LLC raised its holdings in Olaplex by 51.3% during the second quarter. Catalina Capital Group LLC now owns 24,088 shares of the company’s stock worth $37,000 after purchasing an additional 8,172 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Olaplex by 2,108.4% during the fourth quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock worth $26,000 after purchasing an additional 9,593 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in Olaplex by 57.8% during the first quarter. Bleakley Financial Group LLC now owns 28,591 shares of the company’s stock worth $55,000 after purchasing an additional 10,473 shares during the last quarter. 87.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.51.

Olaplex Price Performance

Shares of OLPX traded down $0.09 during mid-day trading on Friday, hitting $2.09. The company’s stock had a trading volume of 2,663,102 shares, compared to its average volume of 2,139,604. The company has a current ratio of 10.71, a quick ratio of 9.12 and a debt-to-equity ratio of 0.76. The firm has a 50-day simple moving average of $1.68 and a 200 day simple moving average of $1.81. The firm has a market capitalization of $1.38 billion, a P/E ratio of 29.43 and a beta of 2.41. Olaplex has a 1-year low of $1.19 and a 1-year high of $4.03.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $98.90 million during the quarter, compared to analysts’ expectations of $95.15 million. Olaplex had a return on equity of 11.61% and a net margin of 10.91%. The company’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. Analysts predict that Olaplex will post 0.14 EPS for the current fiscal year.

About Olaplex

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