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

Ninety One UK Ltd boosted its holdings in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 99.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,239,796 shares of the company's stock after purchasing an additional 2,112,009 shares during the quarter. Ninety One UK Ltd owned about 0.64% of Olaplex worth $7,335,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Chemistry Wealth Management LLC purchased a new position in Olaplex during the 4th quarter valued at approximately $25,000. Ballentine Partners LLC purchased a new position in shares of Olaplex in the third quarter valued at $28,000. Cornerstone Wealth Management LLC bought a new stake in Olaplex in the fourth quarter worth $36,000. Cinctive Capital Management LP purchased a new stake in Olaplex during the third quarter valued at $38,000. Finally, Abel Hall LLC lifted its position in Olaplex by 68.1% during the third quarter. Abel Hall LLC now owns 18,261 shares of the company's stock valued at $43,000 after purchasing an additional 7,397 shares during the last quarter. 87.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Olaplex from $2.00 to $1.50 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Telsey Advisory Group reissued a "market perform" rating and set a $3.00 price objective on shares of Olaplex in a research note on Thursday, November 7th. Finally, Piper Sandler raised their price objective on Olaplex from $1.50 to $2.00 and gave the company 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, Olaplex has a consensus rating of "Hold" and a consensus target price of $2.30.

Insider Buying and Selling at Olaplex

In related news, Director John P. Bilbrey bought 51,697 shares of the company's stock in a transaction on Monday, November 18th. The shares were acquired at an average cost of $1.75 per share, for a total transaction of $90,469.75. Following the purchase, the director now directly owns 318,418 shares of the company's stock, valued at approximately $557,231.50. The trade was a 19.38 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.20% of the stock is currently owned by corporate insiders.

Olaplex Trading Down 5.2 %

NASDAQ:OLPX traded down $0.08 during mid-day trading on Friday, hitting $1.45. 1,438,496 shares of the stock traded hands, compared to its average volume of 1,091,825. 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 stock has a market capitalization of $961.24 million, a price-to-earnings ratio of 24.17 and a beta of 2.45. Olaplex Holdings, Inc. has a 52 week low of $1.19 and a 52 week high of $2.77. The firm's 50 day moving average is $1.74 and its two-hundred day moving average is $1.96.

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

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.