Victory Capital Management Inc. Buys 64,370 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Victory Capital Management Inc. grew its stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 101.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,079 shares of the company’s stock after buying an additional 64,370 shares during the period. Victory Capital Management Inc.’s holdings in Olaplex were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC bought a new position in Olaplex during the third quarter worth about $68,000. Ballentine Partners LLC bought a new position in shares of Olaplex during the 3rd quarter valued at about $28,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Olaplex by 49,511.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 269,392 shares of the company’s stock valued at $633,000 after purchasing an additional 268,849 shares in the last quarter. Sanders Morris Harris LLC lifted its holdings in shares of Olaplex by 2.9% during the 3rd quarter. Sanders Morris Harris LLC now owns 354,000 shares of the company’s stock valued at $832,000 after purchasing an additional 10,000 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Olaplex by 126.3% during the 3rd quarter. SG Americas Securities LLC now owns 62,543 shares of the company’s stock valued at $147,000 after purchasing an additional 34,902 shares in the last quarter. Institutional investors own 87.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OLPX. Telsey Advisory Group reiterated a “market perform” rating and set a $3.00 price objective on shares of Olaplex in a report on Thursday, November 7th. Barclays cut their price objective on Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, TD Cowen lifted their price objective on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.30.

Insiders Place Their Bets

In related news, Director John P. Bilbrey purchased 51,697 shares of the stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $1.75 per share, with a total value of $90,469.75. Following the transaction, 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 this hyperlink. Insiders own 4.20% of the company’s stock.

Olaplex Stock Down 5.4 %

Shares of Olaplex stock opened at $1.93 on Friday. The business’s 50 day simple moving average is $2.04 and its 200 day simple moving average is $1.93. Olaplex Holdings, Inc. has a 52-week low of $1.19 and a 52-week high of $2.98. The firm has a market cap of $1.28 billion, a PE ratio of 32.17 and a beta of 2.47. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84.

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

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.