GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 470,148 shares of the company’s stock, valued at approximately $954,000.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Headlands Technologies LLC purchased a new stake in shares of Olaplex in the fourth quarter worth about $25,000. Abel Hall LLC acquired a new stake in Olaplex during the fourth quarter worth about $27,000. Schonfeld Strategic Advisors LLC purchased a new position in Olaplex during the third quarter valued at approximately $30,000. Sequoia Financial Advisors LLC purchased a new position in Olaplex during the first quarter valued at approximately $36,000. Finally, BNP Paribas Financial Markets lifted its holdings in Olaplex by 95.4% in the third quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock valued at $39,000 after acquiring an additional 14,507 shares during the period. Institutional investors and hedge funds own 87.37% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on OLPX shares. Telsey Advisory Group raised their price objective on shares of Olaplex from $2.00 to $2.06 and gave the stock a “market perform” rating in a research note on Friday, March 27th. Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Barclays increased their price target on shares of Olaplex from $1.75 to $2.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 14th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Olaplex has a consensus rating of “Hold” and a consensus price target of $1.92.
Olaplex Stock Performance
NASDAQ OLPX opened at $2.07 on Friday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -103.50 and a beta of 1.85. Olaplex Holdings, Inc. has a twelve month low of $0.99 and a twelve month high of $2.09. The company has a current ratio of 6.27, a quick ratio of 5.34 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average of $2.05 and a 200 day moving average of $1.83.
Olaplex (NASDAQ:OLPX – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Olaplex had a positive return on equity of 2.23% and a negative net margin of 3.53%.The company had revenue of $99.37 million for the quarter, compared to the consensus estimate of $94.11 million. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Olaplex Holdings, Inc. will post 0.09 EPS for the current fiscal year.
Insider Buying and Selling at Olaplex
In other news, insider Trisha L. Fox sold 16,324 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $2.04, for a total transaction of $33,300.96. Following the transaction, the insider owned 1,064,039 shares in the company, valued at $2,170,639.56. This trade represents a 1.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.80% of the stock is currently owned by insiders.
Olaplex Profile
Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.
Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.
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