Russell Investments Group Ltd. Sells 290,681 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Russell Investments Group Ltd. trimmed its stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 61.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,051 shares of the company's stock after selling 290,681 shares during the period. Russell Investments Group Ltd.'s holdings in Olaplex were worth $318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in OLPX. Chemistry Wealth Management LLC bought a new position in Olaplex during the 4th quarter worth about $25,000. Cornerstone Wealth Management LLC acquired a new position in shares of Olaplex during the fourth quarter worth about $36,000. Parkside Financial Bank & Trust grew its holdings in shares of Olaplex by 290.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company's stock worth $37,000 after buying an additional 15,911 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Olaplex in the 4th quarter valued at approximately $43,000. Finally, Virtu Financial LLC bought a new stake in Olaplex in the 4th quarter valued at approximately $55,000. 87.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Olaplex news, insider Trisha L. Fox sold 26,526 shares of the company's stock in a transaction that occurred 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 sale, the insider now owns 461,548 shares in the company, valued at $664,629.12. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel John C. Duffy sold 35,013 shares of Olaplex stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $50,418.72. Following the transaction, the general counsel now owns 348,630 shares of the company's stock, valued at $502,027.20. This represents a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,269 shares of company stock valued at $103,161 in the last quarter. Company insiders own 4.20% of the company's stock.

Olaplex Stock Down 0.8 %

Shares of NASDAQ:OLPX traded down $0.01 during midday trading on Monday, hitting $1.29. The stock had a trading volume of 513,012 shares, compared to its average volume of 2,185,826. The company has a market cap of $858.83 million, a P/E ratio of 21.50 and a beta of 2.39. Olaplex Holdings, Inc. has a 12 month low of $1.01 and a 12 month high of $2.77. The business's 50-day simple moving average is $1.33 and its 200-day simple moving average is $1.63. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73.

Analyst Upgrades and Downgrades

OLPX has been the topic of a number of recent research reports. Piper Sandler lifted 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 reiterated a "market perform" rating and issued a $2.00 price target on shares of Olaplex in a research note on Wednesday, March 12th. Finally, Barclays increased their price objective on shares of Olaplex from $1.50 to $1.70 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th.

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.