JPMorgan Chase & Co. Reduces Stake in Olaplex Holdings, Inc. (NASDAQ:OLPX)

JPMorgan Chase & Co. cut its stake in Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 87.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,032 shares of the company's stock after selling 420,757 shares during the quarter. JPMorgan Chase & Co.'s holdings in Olaplex were worth $146,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OLPX. Geode Capital Management LLC raised its position in shares of Olaplex by 14.5% during the third quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company's stock worth $8,717,000 after purchasing an additional 468,570 shares during the period. Jane Street Group LLC increased its position in Olaplex by 5,728.5% during the third quarter. Jane Street Group LLC now owns 2,633,397 shares of the company's stock worth $6,188,000 after acquiring an additional 2,588,216 shares during the period. AQR Capital Management LLC raised its stake in shares of Olaplex by 20.7% in the second quarter. AQR Capital Management LLC now owns 1,073,878 shares of the company's stock valued at $1,654,000 after purchasing an additional 184,091 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Olaplex by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,066,027 shares of the company's stock valued at $2,505,000 after acquiring an additional 102,752 shares during the period. Finally, Sanders Morris Harris LLC raised its position in Olaplex by 2.9% in the 3rd quarter. Sanders Morris Harris LLC now owns 354,000 shares of the company's stock valued at $832,000 after purchasing an additional 10,000 shares during the last quarter. 87.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on OLPX. Barclays lowered their target price on shares of Olaplex from $2.00 to $1.50 and set an "equal weight" rating for the company in a report on Monday, November 11th. Piper Sandler upped their target price on shares of Olaplex from $1.50 to $2.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $3.00 price objective on shares of Olaplex in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Olaplex has a consensus rating of "Hold" and a consensus target price of $2.30.

Olaplex Stock Performance

NASDAQ OLPX traded down $0.02 during trading hours on Wednesday, reaching $1.50. 1,135,517 shares of the company were exchanged, compared to its average volume of 1,289,005. The stock has a market capitalization of $994.38 million, a P/E ratio of 25.00 and a beta of 2.45. Olaplex Holdings, Inc. has a 1 year low of $1.19 and a 1 year high of $2.77. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73. The business's 50 day simple moving average is $1.76 and its 200-day simple moving average is $1.97.

Olaplex (NASDAQ:OLPX - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. The company had revenue of $119.10 million during the quarter, compared to analyst estimates of $126.51 million. During the same period last year, the business earned $0.05 earnings per share. Olaplex's revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts expect that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current year.

Insider Transactions at Olaplex

In related news, Director John P. Bilbrey acquired 51,697 shares of Olaplex stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of $1.75 per share, with a total value of $90,469.75. Following the transaction, the director now directly owns 318,418 shares in the company, valued at approximately $557,231.50. This represents a 19.38 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed 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.