Olaplex (NASDAQ:OLPX) Trading Up 6.5% on Insider Buying Activity

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) were up 6.5% during trading on Wednesday following insider buying activity. The company traded as high as $1.87 and last traded at $1.86. Approximately 625,948 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 2,406,679 shares. The stock had previously closed at $1.75.

Specifically, Director John P. Bilbrey purchased 51,697 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average price of $1.75 per share, for a total transaction of $90,469.75. Following the completion of the purchase, the director now directly owns 318,418 shares of the company’s stock, valued at $557,231.50. This trade represents a 19.38 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John P. Bilbrey acquired 25,128 shares of Olaplex stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $1.76 per share, with a total value of $44,225.28. Following the completion of the acquisition, the director now directly owns 266,721 shares in the company, valued at $469,428.96. This represents a 10.40 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OLPX. Barclays reduced their price target 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. TD Cowen lifted their target price on shares of Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $3.00 price target on shares of Olaplex in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Olaplex currently has an average rating of “Hold” and a consensus target price of $2.30.

Olaplex Stock Up 6.5 %

The company has a fifty day simple moving average of $2.10 and a 200-day simple moving average of $1.91. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73. The firm has a market cap of $1.24 billion, a P/E ratio of 29.17 and a beta of 2.47.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC purchased a new position in shares of Olaplex in the third quarter worth $28,000. Cinctive Capital Management LP bought a new stake in Olaplex in the 3rd quarter valued at $38,000. Abel Hall LLC lifted its stake in Olaplex by 68.1% in the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock worth $43,000 after purchasing an additional 7,397 shares in the last quarter. Quarry LP bought a new position in shares of Olaplex during the 2nd quarter valued at about $33,000. Finally, Catalina Capital Group LLC increased its holdings in shares of Olaplex by 51.3% in 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. 87.37% of the stock is owned by hedge funds and other institutional investors.

Olaplex Company Profile

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.