Cornerstone Investment Partners LLC Buys Shares of 61,062 Olaplex Holdings, Inc. (NASDAQ:OLPX)

Cornerstone Investment Partners LLC purchased a new position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 61,062 shares of the company’s stock, valued at approximately $155,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Waldron Private Wealth LLC grew its holdings in shares of Olaplex by 62.0% in the fourth quarter. Waldron Private Wealth LLC now owns 16,227 shares of the company’s stock valued at $41,000 after purchasing an additional 6,213 shares in the last quarter. Simplicity Solutions LLC purchased a new stake in shares of Olaplex during the fourth quarter worth $46,000. Allspring Global Investments Holdings LLC raised its stake in shares of Olaplex by 119,729.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 336,722 shares of the company’s stock valued at $855,000 after acquiring an additional 336,441 shares in the last quarter. Bleakley Financial Group LLC purchased a new position in Olaplex in the fourth quarter valued at $46,000. Finally, Oak Thistle LLC grew its stake in Olaplex by 219.7% during the 4th quarter. Oak Thistle LLC now owns 40,649 shares of the company’s stock worth $103,000 after purchasing an additional 27,935 shares in the last quarter. 87.37% of the stock is currently owned by hedge funds and other institutional investors.

Olaplex Stock Performance

NASDAQ OLPX opened at $1.35 on Friday. The company has a fifty day moving average of $1.81 and a two-hundred day moving average of $1.99. The company has a market capitalization of $892.84 million, a PE ratio of 15.00 and a beta of 2.28. Olaplex Holdings, Inc. has a 1 year low of $1.27 and a 1 year high of $4.27. The company has a debt-to-equity ratio of 0.77, a current ratio of 10.92 and a quick ratio of 9.21.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. The company had revenue of $111.72 million during the quarter, compared to analysts’ expectations of $108.29 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was down 14.5% on a year-over-year basis. As a group, analysts expect that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research report on Friday, April 5th. Piper Sandler upgraded shares of Olaplex from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $1.25 to $2.00 in a report on Tuesday, March 19th. Finally, Truist Financial decreased their price objective on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Seven equities 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, the stock has an average rating of “Hold” and a consensus price target of $2.59.

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.