Insider Buying: Olaplex Holdings, Inc. (NASDAQ:OLPX) Director Acquires 25,128 Shares of Stock

Olaplex Holdings, Inc. (NASDAQ:OLPX) Director John P. Bilbrey purchased 25,128 shares of the business’s stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $1.76 per share, with a total value of $44,225.28. Following the purchase, the director now owns 266,721 shares of the company’s stock, valued at approximately $469,428.96. This trade represents a 10.40 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Olaplex Stock Performance

OLPX stock opened at $2.00 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32. The company has a 50 day moving average price of $2.09 and a 200 day moving average price of $1.91. Olaplex Holdings, Inc. has a fifty-two week low of $1.19 and a fifty-two week high of $2.98. The stock has a market capitalization of $1.33 billion, a PE ratio of 33.35 and a beta of 2.47.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. The firm had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $126.51 million. During the same quarter in the previous year, the company posted $0.05 EPS. Olaplex’s revenue was down 3.6% on a year-over-year basis. Analysts forecast that Olaplex Holdings, Inc. will post 0.11 EPS for the current year.

Institutional Trading of Olaplex

A number of institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. grew its holdings in Olaplex by 42.0% during the 2nd quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock worth $30,317,000 after acquiring an additional 5,824,889 shares during the period. Vanguard Group Inc. grew its holdings in Olaplex by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock worth $22,915,000 after acquiring an additional 929,693 shares during the period. Geode Capital Management LLC grew its holdings in Olaplex by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock worth $8,717,000 after acquiring an additional 468,570 shares during the period. Jane Street Group LLC grew its holdings in Olaplex by 5,728.5% during the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock worth $6,188,000 after acquiring an additional 2,588,216 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Olaplex by 0.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company’s stock worth $3,852,000 after acquiring an additional 14,200 shares during the period. Institutional investors and hedge funds own 87.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. TD Cowen lifted their target price on shares of Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $3.00 target price on shares of Olaplex in a research note on Thursday, November 7th. Finally, Barclays cut their target price on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $2.30.

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.