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

Olaplex Holdings, Inc. (NASDAQ:OLPX) was up 6.5% during trading on Wednesday following insider buying activity. The stock traded as high as $1.87 and last traded at $1.86. Approximately 625,948 shares changed hands during 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 company’s stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $1.75 per share, with a total value of $90,469.75. Following the completion of the transaction, the director now directly owns 318,418 shares in the company, valued at $557,231.50. This trade represents a 19.38 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Bilbrey acquired 25,128 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of $1.76 per share, with a total value of $44,225.28. Following the completion of the acquisition, the director now owns 266,721 shares in the company, valued at $469,428.96. This trade represents a 10.40 % increase in their position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

OLPX has been the subject of a number of research analyst reports. 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 report on Monday, November 11th. TD Cowen boosted their price objective on 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 reaffirmed a “market perform” rating and issued a $3.00 target price 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 assigned a buy rating to the company. According to data from MarketBeat, Olaplex presently has an average rating of “Hold” and a consensus price target of $2.30.

Olaplex Price Performance

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 stock’s 50-day moving average price is $2.09 and its 200 day moving average price is $1.91. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 33.35 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, hitting analysts’ consensus estimates of $0.04. The company had revenue of $119.10 million during the quarter, compared to the consensus estimate of $126.51 million. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. Equities research analysts predict that Olaplex Holdings, Inc. will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On Olaplex

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of 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. CANADA LIFE ASSURANCE Co raised its holdings in shares of Olaplex by 1,182.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 71,856 shares of the company’s stock worth $138,000 after buying an additional 66,252 shares in the last quarter. Pitcairn Co. lifted its position in shares of Olaplex by 107.5% during the 1st quarter. Pitcairn Co. now owns 72,023 shares of the company’s stock worth $138,000 after buying an additional 37,308 shares during the period. Quadrature Capital Ltd boosted its stake in Olaplex by 50.4% in the 1st quarter. Quadrature Capital Ltd now owns 88,206 shares of the company’s stock valued at $170,000 after buying an additional 29,545 shares in the last quarter. Finally, PEAK6 Investments LLC bought a new stake in Olaplex in the first quarter valued at $232,000. Institutional investors and hedge funds own 87.37% of the company’s stock.

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.