Olaplex (NASDAQ:OLPX) Trading 6.5% Higher on Insider Buying Activity

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price shot up 6.5% on Wednesday following insider buying activity. The stock traded as high as $1.87 and last traded at $1.86. 625,948 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 2,406,679 shares. The stock had previously closed at $1.75.

Specifically, Director John P. Bilbrey acquired 51,697 shares of Olaplex stock in a transaction on Monday, November 18th. The shares were bought at an average price of $1.75 per share, with a total value 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 trade represents a 19.38 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John P. Bilbrey bought 25,128 shares of the stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $1.76 per share, with a total value of $44,225.28. Following the completion of the purchase, the director now owns 266,721 shares of the company’s stock, valued at $469,428.96. This represents a 10.40 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $3.00 price objective on shares of Olaplex in a report on Thursday, November 7th. TD Cowen increased their price target on shares of Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, Barclays dropped their price objective on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.30.

Olaplex Price Performance

The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $1.33 billion, a P/E ratio of 33.35 and a beta of 2.47. The company has a fifty day simple moving average of $2.09 and a two-hundred day simple moving average of $1.91.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. The business had revenue of $119.10 million during the quarter, compared to the consensus estimate of $126.51 million. During the same period in the previous year, the firm posted $0.05 earnings per share. Olaplex’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts expect that Olaplex Holdings, Inc. will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OLPX. Vanguard Group Inc. grew its stake in shares of Olaplex by 8.4% during 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 period. Bank of New York Mellon Corp boosted its holdings in 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 during the last quarter. Scion Asset Management LLC acquired a new stake in Olaplex in the second quarter worth $1,533,000. Quadrature Capital Ltd grew its stake in Olaplex by 50.4% in the first quarter. Quadrature Capital Ltd now owns 88,206 shares of the company’s stock valued at $170,000 after acquiring an additional 29,545 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Olaplex by 126.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 80,843 shares of the company’s stock worth $124,000 after buying an additional 45,133 shares during the period. Institutional investors and hedge funds own 87.37% of the company’s stock.

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.