Rhumbline Advisers Buys 39,698 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Rhumbline Advisers boosted its holdings in Olaplex Holdings, Inc. (NASDAQ:OLPX) by 34.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,442 shares of the company’s stock after acquiring an additional 39,698 shares during the quarter. Rhumbline Advisers’ holdings in Olaplex were worth $236,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Olaplex by 8.4% in the first quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock worth $22,915,000 after purchasing an additional 929,693 shares during the last quarter. Sanders Morris Harris LLC purchased a new position in Olaplex in the first quarter worth about $660,000. Norden Group LLC bought a new stake in shares of Olaplex during the 1st quarter valued at about $563,000. Bank of New York Mellon Corp increased its position in shares of Olaplex by 29.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock valued at $1,451,000 after purchasing an additional 212,129 shares during the last quarter. Finally, PEAK6 Investments LLC bought a new position in shares of Olaplex in the 1st quarter worth approximately $232,000. 87.37% of the stock is currently owned by hedge funds and other institutional investors.

Olaplex Price Performance

Olaplex stock opened at $2.34 on Friday. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 33.43 and a beta of 2.42. Olaplex Holdings, Inc. has a 52-week low of $1.19 and a 52-week high of $2.98. The company has a quick ratio of 7.85, a current ratio of 9.27 and a debt-to-equity ratio of 0.75. The firm’s fifty day moving average is $2.14 and its 200 day moving average is $1.81.

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

Wall Street Analysts Forecast Growth

OLPX has been the subject of a number of recent research reports. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research report on Tuesday, August 6th. TD Cowen boosted their target price on shares of Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Olaplex presently has an average rating of “Hold” and a consensus target price of $2.18.

Insider Buying and Selling at Olaplex

In related news, Director John P. Bilbrey acquired 183,493 shares of the stock in a transaction on Monday, August 19th. The stock was bought at an average cost of $2.05 per share, with a total value of $376,160.65. Following the transaction, the director now directly owns 241,593 shares in the company, valued at $495,265.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is currently 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.