Olaplex Holdings, Inc. (NASDAQ:OLPX) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in Olaplex Holdings, Inc. (NASDAQ:OLPX) by 14.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,708,821 shares of the company’s stock after purchasing an additional 468,570 shares during the period. Geode Capital Management LLC’s holdings in Olaplex were worth $8,717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of OLPX. Ballentine Partners LLC acquired a new stake in shares of Olaplex during the 3rd quarter worth approximately $28,000. Quarry LP purchased a new position in Olaplex in the second quarter valued at $33,000. Cinctive Capital Management LP acquired a new position in shares of Olaplex in the third quarter worth about $38,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Olaplex by 38.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock worth $40,000 after acquiring an additional 7,235 shares during the period. Finally, Abel Hall LLC boosted its stake in shares of Olaplex by 68.1% during the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock worth $43,000 after acquiring an additional 7,397 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Wall Street Analysts Forecast Growth

OLPX has been the subject of several research analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $3.00 target price on shares of Olaplex in a research note on Thursday, November 7th. Barclays reduced 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.30.

Olaplex Stock Down 2.3 %

Olaplex stock opened at $1.69 on Friday. The stock has a market cap of $1.12 billion, a PE ratio of 28.17 and a beta of 2.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32. The stock’s fifty day moving average is $1.91 and its two-hundred day moving average is $1.97. Olaplex Holdings, Inc. has a 1-year low of $1.19 and a 1-year high of $2.77.

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

Insider Transactions at Olaplex

In related news, Director John P. Bilbrey purchased 51,697 shares of the stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $1.75 per share, with a total value of $90,469.75. Following the purchase, the director now directly owns 318,418 shares in the company, valued at $557,231.50. This trade represents a 19.38 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 4.20% of the company’s stock.

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.