Ninety One UK Ltd Increases Holdings in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Ninety One UK Ltd lifted its position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 99.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,239,796 shares of the company’s stock after buying an additional 2,112,009 shares during the period. Ninety One UK Ltd owned about 0.64% of Olaplex worth $7,335,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Abel Hall LLC raised its holdings in shares of Olaplex by 68.1% during the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock valued at $43,000 after buying an additional 7,397 shares in the last quarter. Sanders Morris Harris LLC raised its holdings in shares of Olaplex by 2.9% during the 3rd quarter. Sanders Morris Harris LLC now owns 354,000 shares of the company’s stock valued at $832,000 after buying an additional 10,000 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Olaplex during the 3rd quarter valued at about $28,000. Chemistry Wealth Management LLC purchased a new position in shares of Olaplex during the 4th quarter valued at about $25,000. Finally, Cinctive Capital Management LP purchased a new position in shares of Olaplex during the 3rd quarter valued at about $38,000. 87.37% of the stock is owned by hedge funds and other institutional investors.

Olaplex Price Performance

Shares of OLPX stock opened at $1.50 on Thursday. The firm has a market cap of $994.38 million, a P/E ratio of 25.00 and a beta of 2.45. Olaplex Holdings, Inc. has a fifty-two week low of $1.19 and a fifty-two week high of $2.77. The business’s 50 day moving average price is $1.76 and its 200-day moving average price is $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 (NASDAQ:OLPX) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $119.10 million for the quarter, compared to analyst estimates of $126.51 million. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $0.05 EPS. On average, equities research analysts anticipate that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current year.

Insider Transactions at Olaplex

In other news, Director John P. Bilbrey purchased 25,128 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $1.76 per share, for a total transaction of $44,225.28. Following the completion of the transaction, the director now directly owns 266,721 shares of the company’s stock, valued at $469,428.96. This trade represents a 10.40 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OLPX shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $3.00 price target on shares of Olaplex in a research note on Thursday, November 7th. Barclays decreased their price target on Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Finally, Piper Sandler lifted their price target on Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.30.

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.