Pacer Advisors Inc. Purchases 5,824,889 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Pacer Advisors Inc. increased its holdings in Olaplex Holdings, Inc. (NASDAQ:OLPX) by 42.0% in the second quarter, Holdings Channel reports. The fund owned 19,686,481 shares of the company’s stock after purchasing an additional 5,824,889 shares during the quarter. Pacer Advisors Inc.’s holdings in Olaplex were worth $30,317,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in shares of Olaplex by 2,108.4% during the 4th quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock worth $26,000 after purchasing an additional 9,593 shares during the last quarter. Catalina Capital Group LLC purchased a new stake in shares of Olaplex during the first quarter valued at about $31,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Olaplex by 38.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock worth $40,000 after buying an additional 7,235 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Olaplex during the 2nd quarter worth approximately $43,000. Finally, Walleye Trading LLC bought a new position in shares of Olaplex during the 1st quarter worth approximately $53,000. 87.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OLPX has been the subject of several recent analyst reports. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a research note on Tuesday, August 6th. TD Cowen upped their target price on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.18.

Insider Buying and Selling

In other Olaplex news, Director John P. Bilbrey acquired 183,493 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was acquired at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the purchase, the director now owns 241,593 shares in the company, valued at approximately $495,265.65. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is owned by corporate insiders.

Olaplex Price Performance

Shares of OLPX opened at $2.25 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 9.27 and a quick ratio of 7.85. The company’s fifty day moving average price is $2.08 and its 200-day moving average price is $1.79. Olaplex Holdings, Inc. has a 1-year low of $1.19 and a 1-year high of $2.98. The firm has a market capitalization of $1.49 billion, a PE ratio of 32.14 and a beta of 2.42.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The business had revenue of $103.90 million for the quarter, compared to the consensus estimate of $103.65 million. During the same quarter in the previous year, the business earned $0.03 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts predict that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

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.