Scion Asset Management LLC Invests $1.53 Million in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Scion Asset Management LLC purchased a new position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 995,250 shares of the company's stock, valued at approximately $1,533,000. Olaplex comprises about 2.9% of Scion Asset Management LLC's holdings, making the stock its 9th largest holding. Scion Asset Management LLC owned approximately 0.15% of Olaplex as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in OLPX. Vanguard Group Inc. boosted its position in shares of Olaplex by 8.4% during the 1st 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 position in shares of Olaplex by 29.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company's stock worth $1,451,000 after purchasing an additional 212,129 shares during the period. Wedmont Private Capital boosted its position in shares of Olaplex by 96.6% during the 1st quarter. Wedmont Private Capital now owns 36,794 shares of the company's stock worth $71,000 after purchasing an additional 18,081 shares during the period. Quadrature Capital Ltd boosted its position in shares of Olaplex by 50.4% during the 1st quarter. Quadrature Capital Ltd now owns 88,206 shares of the company's stock worth $170,000 after purchasing an additional 29,545 shares during the period. Finally, Syon Capital LLC purchased a new position in shares of Olaplex during the 4th quarter worth approximately $115,000. Institutional investors and hedge funds own 87.37% of the company's stock.

Insider Buying and Selling at Olaplex

In other news, Director John P. Bilbrey acquired 183,493 shares of Olaplex stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the acquisition, the director now owns 241,593 shares of the company's stock, valued at $495,265.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OLPX shares. TD Cowen increased their price objective on shares of Olaplex from $1.80 to $2.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $2.00 price objective on shares of Olaplex in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.18.

Olaplex Stock Performance

Shares of OLPX stock opened at $2.32 on Friday. The company has a quick ratio of 7.85, a current ratio of 9.27 and a debt-to-equity ratio of 0.75. Olaplex Holdings, Inc. has a 52 week low of $1.19 and a 52 week high of $2.98. The stock has a market capitalization of $1.54 billion, a PE ratio of 33.14 and a beta of 2.42. The firm has a 50 day moving average of $2.13 and a two-hundred day moving average of $1.80.

Olaplex (NASDAQ:OLPX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The company had revenue of $103.90 million during the quarter, compared to analysts' expectations of $103.65 million. During the same quarter last year, the company posted $0.03 EPS. The firm's revenue was down 4.9% compared to the same quarter last year. On average, research analysts predict that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

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.

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