Insider Buying: Olaplex Holdings, Inc. (NASDAQ:OLPX) Director Purchases 51,697 Shares of Stock

Olaplex Holdings, Inc. (NASDAQ:OLPX) Director John P. Bilbrey acquired 51,697 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price of $1.75 per share, for a total transaction of $90,469.75. Following the completion of the acquisition, 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 document filed with the SEC, which can be accessed through this link.

Olaplex Trading Up 4.0 %

Shares of Olaplex stock opened at $1.82 on Thursday. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $2.10 and its 200-day moving average price is $1.91. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 30.34 and a beta of 2.47. Olaplex Holdings, Inc. has a 12-month low of $1.19 and a 12-month high of $2.98.

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

Institutional Investors Weigh In On Olaplex

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in Olaplex by 42.0% in the 2nd quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock worth $30,317,000 after purchasing an additional 5,824,889 shares during the period. Jane Street Group LLC increased its stake in Olaplex by 5,728.5% in the third quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock worth $6,188,000 after purchasing an additional 2,588,216 shares during the period. Scion Asset Management LLC purchased a new stake in Olaplex in the second quarter worth $1,533,000. Vanguard Group Inc. increased its stake in shares of Olaplex by 8.4% during the first quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock valued at $22,915,000 after buying an additional 929,693 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Olaplex by 14.5% during the third quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock valued at $8,717,000 after buying an additional 468,570 shares during the period. 87.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OLPX. Telsey Advisory Group reiterated a “market perform” rating and issued a $3.00 price target on shares of Olaplex in a research note on Thursday, November 7th. TD Cowen boosted their price target 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, Barclays dropped their target price on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.30.

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.