Townsquare Capital LLC Decreases Position in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Townsquare Capital LLC decreased its position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 17.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,454 shares of the company’s stock after selling 10,511 shares during the quarter. Townsquare Capital LLC’s holdings in Olaplex were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in Olaplex by 42.0% in the 2nd quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock valued at $30,317,000 after acquiring an additional 5,824,889 shares in the last quarter. Scion Asset Management LLC bought a new position in shares of Olaplex during the second quarter valued at $1,533,000. Vanguard Group Inc. boosted its position 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 last quarter. Allspring Global Investments Holdings LLC increased its holdings in Olaplex by 49,511.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 269,392 shares of the company’s stock worth $633,000 after buying an additional 268,849 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Olaplex by 29.1% in the 2nd 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. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently 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. 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. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Olaplex currently has a consensus rating of “Hold” and a consensus price target of $2.30.

Insider Activity at Olaplex

In related news, Director John P. Bilbrey acquired 25,128 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $1.76 per share, with a total value of $44,225.28. Following the completion of the purchase, the director now directly owns 266,721 shares of the company’s stock, valued at $469,428.96. This represents a 10.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.20% of the stock is owned by company insiders.

Olaplex Price Performance

Shares of NASDAQ:OLPX opened at $2.14 on Friday. 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 has a market capitalization of $1.42 billion, a PE ratio of 35.67 and a beta of 2.48. The firm’s 50 day moving average price is $2.02 and its 200-day moving average price is $1.95. Olaplex Holdings, Inc. has a twelve month low of $1.19 and a twelve month high of $2.98.

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

About Olaplex

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.