Renaissance Technologies LLC Increases Stock Position in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Renaissance Technologies LLC raised its stake in Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,076,969 shares of the company's stock after acquiring an additional 268,969 shares during the quarter. Renaissance Technologies LLC owned approximately 0.46% of Olaplex worth $5,323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Olaplex by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company's stock worth $1,861,000 after purchasing an additional 9,661 shares during the period. Chemistry Wealth Management LLC bought a new stake in shares of Olaplex in the fourth quarter valued at $25,000. Parkside Financial Bank & Trust lifted its position in shares of Olaplex by 290.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company's stock valued at $37,000 after buying an additional 15,911 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Olaplex by 27.6% during the 4th quarter. Wells Fargo & Company MN now owns 81,972 shares of the company's stock valued at $142,000 after buying an additional 17,726 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new position in shares of Olaplex during the 4th quarter worth $36,000. 87.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

OLPX has been the topic of several recent research reports. Piper Sandler upped their price objective on shares of Olaplex from $1.50 to $2.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Telsey Advisory Group restated a "market perform" rating and set a $2.00 price target on shares of Olaplex in a research note on Wednesday, March 12th. Finally, Barclays raised their price objective on shares of Olaplex from $1.50 to $1.70 and gave the stock an "equal weight" rating in a report on Wednesday, March 5th.

Olaplex Price Performance

NASDAQ OLPX traded down $0.06 during trading hours on Friday, hitting $1.28. The company had a trading volume of 188,428 shares, compared to its average volume of 2,186,774. The firm has a 50 day simple moving average of $1.33 and a 200 day simple moving average of $1.65. Olaplex Holdings, Inc. has a 52 week low of $1.01 and a 52 week high of $2.77. The firm has a market capitalization of $847.39 million, a price-to-earnings ratio of 21.25 and a beta of 2.39. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84.

Insider Activity

In other news, General Counsel John C. Duffy sold 35,013 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.44, for a total transaction of $50,418.72. Following the completion of the transaction, the general counsel now directly owns 348,630 shares in the company, valued at $502,027.20. The trade was a 9.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Trisha L. Fox sold 26,526 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $38,197.44. Following the completion of the sale, the insider now owns 461,548 shares in the company, valued at $664,629.12. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,269 shares of company stock worth $103,161. 4.20% of the stock is owned by company insiders.

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.