Verition Fund Management LLC Has $280,000 Stock Position in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Verition Fund Management LLC reduced its stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 30.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,269 shares of the company’s stock after selling 51,454 shares during the quarter. Verition Fund Management LLC’s holdings in Olaplex were worth $280,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in shares of Olaplex by 42.0% during the second quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock valued at $30,317,000 after buying an additional 5,824,889 shares during the last quarter. Renaissance Technologies LLC increased its stake in Olaplex by 0.6% during the second quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company’s stock valued at $3,852,000 after acquiring an additional 14,200 shares during the period. AQR Capital Management LLC raised its holdings in Olaplex by 20.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,073,878 shares of the company’s stock valued at $1,654,000 after acquiring an additional 184,091 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Olaplex by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,066,027 shares of the company’s stock worth $2,505,000 after acquiring an additional 102,752 shares during the period. Finally, Scion Asset Management LLC acquired a new stake in shares of Olaplex during the 2nd quarter worth approximately $1,533,000. 87.37% of the stock is owned by institutional investors.

Olaplex Stock Up 1.9 %

Shares of NASDAQ OLPX opened at $2.10 on Friday. The business has a fifty day moving average of $2.00 and a two-hundred day moving average of $1.97. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84. Olaplex Holdings, Inc. has a 52-week low of $1.19 and a 52-week high of $2.98. The stock has a market cap of $1.39 billion, a PE ratio of 35.00 and a beta of 2.48.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. The firm had revenue of $119.10 million for the quarter, compared to analysts’ expectations of $126.51 million. During the same period in the prior year, the firm earned $0.05 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Olaplex Holdings, Inc. will post 0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on OLPX shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $3.00 target price on shares of Olaplex in a research report on Thursday, November 7th. Barclays decreased their target price on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Olaplex currently has a consensus rating of “Hold” and an average price target of $2.30.

Insider Buying and Selling at Olaplex

In other Olaplex news, Director John P. Bilbrey bought 51,697 shares of the stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $1.75 per share, for a total transaction of $90,469.75. Following the completion of the purchase, the director now owns 318,418 shares in the company, valued at $557,231.50. This represents a 19.38 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

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.