20,950 Shares in Olaplex Holdings, Inc. (NASDAQ:OLPX) Purchased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC acquired a new position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) during the 4th quarter, Holdings Channel.com reports. The fund acquired 20,950 shares of the company’s stock, valued at approximately $36,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chemistry Wealth Management LLC bought a new position in Olaplex in the 4th quarter valued at approximately $25,000. Ballentine Partners LLC bought a new stake in shares of Olaplex in the third quarter worth $28,000. Quarry LP bought a new position in Olaplex in the second quarter valued at about $33,000. Cinctive Capital Management LP purchased a new position in Olaplex in the third quarter worth about $38,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Olaplex by 38.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock valued at $40,000 after purchasing an additional 7,235 shares during the period. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Olaplex Stock Performance

OLPX opened at $1.62 on Tuesday. The firm has a market cap of $1.07 billion, a P/E ratio of 27.00 and a beta of 2.47. Olaplex Holdings, Inc. has a 1-year low of $1.19 and a 1-year high of $2.77. The company has a 50 day simple moving average of $1.82 and a two-hundred day simple moving average of $1.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to analyst estimates of $126.51 million. During the same quarter in the prior year, the business posted $0.05 EPS. Olaplex’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts forecast that Olaplex Holdings, Inc. will post 0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OLPX shares. Piper Sandler increased their price objective on shares of Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Telsey Advisory Group reiterated a “market perform” rating and set a $3.00 price target on shares of Olaplex in a research note on Thursday, November 7th. Finally, Barclays decreased their target price on Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.30.

Insider Activity at Olaplex

In related news, Director John P. Bilbrey acquired 25,128 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $1.76 per share, with a total value of $44,225.28. Following the acquisition, the director now directly owns 266,721 shares in the company, valued at $469,428.96. This represents a 10.40 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.20% of the stock is owned by corporate insiders.

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.