Kenneth F. Egan Acquires 10,000 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) Stock

Olaplex Holdings, Inc. (NASDAQ:OLPX) insider Kenneth F. Egan purchased 10,000 shares of the stock in a transaction on Friday, March 14th. The shares were acquired at an average price of $1.34 per share, for a total transaction of $13,400.00. Following the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $13,400. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Olaplex Price Performance

OLPX stock opened at $1.33 on Thursday. Olaplex Holdings, Inc. has a 52-week low of $1.19 and a 52-week high of $2.77. The business has a fifty day moving average of $1.50 and a two-hundred day moving average of $1.85. The stock has a market cap of $883.94 million, a price-to-earnings ratio of 22.17 and a beta of 2.44. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73.

Institutional Trading of Olaplex

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in Olaplex by 101.0% during the third quarter. Victory Capital Management Inc. now owns 128,079 shares of the company’s stock worth $301,000 after buying an additional 64,370 shares during the period. Intech Investment Management LLC acquired a new position in shares of Olaplex in the 3rd quarter worth approximately $80,000. Charles Schwab Investment Management Inc. increased its holdings in Olaplex by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,066,027 shares of the company’s stock valued at $2,505,000 after purchasing an additional 102,752 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Olaplex in the third quarter valued at approximately $141,000. Finally, MetLife Investment Management LLC lifted its stake in Olaplex by 56.4% during the third quarter. MetLife Investment Management LLC now owns 57,903 shares of the company’s stock worth $136,000 after purchasing an additional 20,891 shares in the last quarter. 87.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OLPX. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a research note on Wednesday, March 12th. Barclays increased their price target on Olaplex from $1.50 to $1.70 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. Finally, Piper Sandler lifted their price target on Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a report on Monday, January 6th.

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.