Scion Asset Management LLC Takes Position in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Scion Asset Management LLC purchased a new position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 995,250 shares of the company’s stock, valued at approximately $1,533,000. Olaplex makes up 2.9% of Scion Asset Management LLC’s portfolio, making the stock its 9th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Olaplex by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock worth $22,915,000 after acquiring an additional 929,693 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Olaplex by 29.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock worth $1,451,000 after acquiring an additional 212,129 shares in the last quarter. Wedmont Private Capital raised its stake in Olaplex by 96.6% during the 1st quarter. Wedmont Private Capital now owns 36,794 shares of the company’s stock worth $71,000 after acquiring an additional 18,081 shares in the last quarter. Quadrature Capital Ltd raised its stake in Olaplex by 50.4% during the 1st quarter. Quadrature Capital Ltd now owns 88,206 shares of the company’s stock worth $170,000 after acquiring an additional 29,545 shares in the last quarter. Finally, Syon Capital LLC acquired a new stake in Olaplex during the 4th quarter worth $115,000. 87.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OLPX has been the topic of several research analyst reports. TD Cowen lifted their price target on shares of Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 price target on shares of Olaplex in a research note on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.18.

Insider Activity

In other news, Director John P. Bilbrey bought 183,493 shares of the stock in a transaction dated Monday, August 19th. The shares were acquired at an average price of $2.05 per share, with a total value of $376,160.65. Following the completion of the acquisition, the director now directly owns 241,593 shares in the company, valued at $495,265.65. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

Olaplex Trading Up 0.4 %

NASDAQ OLPX opened at $2.32 on Friday. 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 firm has a market cap of $1.54 billion, a PE ratio of 33.14 and a beta of 2.42. Olaplex Holdings, Inc. has a one year low of $1.19 and a one year high of $2.98. The firm’s fifty day moving average is $2.13 and its two-hundred day moving average is $1.80.

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