Olaplex Holdings, Inc. (NASDAQ:OLPX) Shares Sold by Marshall Wace LLP

Marshall Wace LLP lowered its stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 45.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,575,802 shares of the company’s stock after selling 1,315,267 shares during the period. Marshall Wace LLP owned about 0.24% of Olaplex worth $2,427,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings 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 acquiring an additional 5,824,889 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Olaplex by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock valued at $22,915,000 after purchasing an additional 929,693 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Olaplex by 0.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company’s stock valued at $3,852,000 after purchasing an additional 14,200 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Olaplex by 29.1% during the second quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock worth $1,451,000 after buying an additional 212,129 shares in the last quarter. Finally, Sanders Morris Harris LLC purchased a new stake in shares of Olaplex during the first quarter worth $660,000. Institutional investors and hedge funds own 87.37% of the company’s stock.

Insider Buying and Selling at Olaplex

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price target on shares of Olaplex in a research report on Tuesday, August 6th. TD Cowen boosted their target price on Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Five research 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 has an average rating of “Hold” and an average target price of $2.18.

Olaplex Stock Performance

Olaplex stock opened at $2.29 on Friday. Olaplex Holdings, Inc. has a 1-year low of $1.19 and a 1-year high of $2.98. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 32.71 and a beta of 2.44. The firm has a 50 day simple moving average of $2.16 and a 200-day simple moving average of $1.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 9.27 and a quick ratio of 7.85.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $103.90 million for the quarter, compared to analyst estimates of $103.65 million. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. On average, analysts expect that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

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.