Panagora Asset Management Inc. Sells 295,179 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Panagora Asset Management Inc. trimmed its position in Olaplex Holdings, Inc. (NASDAQ:OLPX) by 92.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,979 shares of the company’s stock after selling 295,179 shares during the period. Panagora Asset Management Inc.’s holdings in Olaplex were worth $35,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its stake in Olaplex by 2,108.4% in the fourth quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock valued at $26,000 after acquiring an additional 9,593 shares during the period. Catalina Capital Group LLC acquired a new stake in Olaplex in the 1st quarter valued at $31,000. Vanguard Personalized Indexing Management LLC bought a new stake in Olaplex during the 4th quarter valued at $46,000. Walleye Trading LLC acquired a new position in Olaplex during the first quarter worth $53,000. Finally, SG Americas Securities LLC bought a new position in shares of Olaplex in the second quarter valued at $43,000. 87.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on OLPX shares. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 target price on shares of Olaplex in a research report on Tuesday, August 6th. TD Cowen boosted their price objective on Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.18.

Insiders Place Their Bets

In other news, Director John P. Bilbrey acquired 183,493 shares of Olaplex stock in a transaction on Monday, August 19th. The stock was acquired at an average cost of $2.05 per share, with a total value of $376,160.65. Following the completion of the acquisition, the director now owns 241,593 shares in the company, valued at $495,265.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.20% of the company’s stock.

Olaplex Stock Up 4.6 %

Olaplex stock opened at $2.29 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 7.85 and a current ratio of 9.27. The stock has a market cap of $1.52 billion, a PE ratio of 32.71 and a beta of 2.42. Olaplex Holdings, Inc. has a fifty-two week low of $1.19 and a fifty-two week high of $2.98. The firm’s 50-day simple moving average is $1.90 and its 200 day simple moving average is $1.76.

Olaplex (NASDAQ:OLPX) last announced its earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $103.90 million for the quarter, compared to the consensus estimate of $103.65 million. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS. Research analysts predict that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Olaplex Company 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.