Algert Global LLC Takes $87,000 Position in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Algert Global LLC bought a new stake in Olaplex Holdings, Inc. (NASDAQ:OLPX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 56,749 shares of the company’s stock, valued at approximately $87,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position 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 purchasing an additional 929,693 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Olaplex by 29.1% during the second quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock worth $1,451,000 after buying an additional 212,129 shares during the last quarter. Scion Asset Management LLC bought a new stake in Olaplex during the second quarter worth $1,533,000. Wedmont Private Capital lifted its stake in Olaplex by 96.6% in the first quarter. Wedmont Private Capital now owns 36,794 shares of the company’s stock valued at $71,000 after acquiring an additional 18,081 shares during the last quarter. Finally, Quadrature Capital Ltd grew its position in shares of 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 acquiring an additional 29,545 shares during the period. Institutional investors own 87.37% of the company’s stock.

Insider Buying and Selling at Olaplex

In other Olaplex news, Director John P. Bilbrey purchased 183,493 shares of the stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $2.05 per share, with a total value of $376,160.65. Following the acquisition, the director now owns 241,593 shares of the company’s stock, valued at approximately $495,265.65. This represents a 300.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.20% of the company’s stock.

Olaplex Price Performance

Olaplex stock opened at $2.29 on Friday. The firm has a market cap of $1.52 billion, a PE ratio of 32.71 and a beta of 2.44. 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 stock’s fifty day moving average price is $2.20 and its two-hundred day moving average price is $1.84. Olaplex Holdings, Inc. has a one year low of $1.19 and a one year high of $2.98.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $103.90 million for the quarter, compared to analysts’ expectations of $103.65 million. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. Olaplex’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. As a group, research analysts expect that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. TD Cowen upped their price objective on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 target price on shares of Olaplex in a report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.22.

Olaplex 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.