Allspring Global Investments Holdings LLC Purchases 336,441 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Allspring Global Investments Holdings LLC lifted its position in Olaplex Holdings, Inc. (NASDAQ:OLPX) by 119,729.9% during the 4th quarter, Holdings Channel reports. The firm owned 336,722 shares of the company’s stock after buying an additional 336,441 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Olaplex were worth $855,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quent Capital LLC grew its holdings in shares of Olaplex by 2,463.8% in the 4th quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock worth $28,000 after purchasing an additional 10,742 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Olaplex in the 3rd quarter worth about $25,000. HB Wealth Management LLC bought a new stake in shares of Olaplex in the 4th quarter worth about $35,000. Bleakley Financial Group LLC acquired a new position in Olaplex during the 4th quarter worth about $46,000. Finally, M&T Bank Corp acquired a new position in Olaplex during the 3rd quarter worth about $36,000. Institutional investors own 87.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OLPX shares. Truist Financial reduced their price target on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Piper Sandler upgraded shares of Olaplex from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $1.25 to $2.00 in a research report on Tuesday, March 19th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 price target on shares of Olaplex in a research report on Friday, April 5th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Olaplex currently has an average rating of “Hold” and a consensus target price of $2.59.

Olaplex Stock Performance

Olaplex stock opened at $1.35 on Thursday. The company has a current ratio of 10.92, a quick ratio of 9.21 and a debt-to-equity ratio of 0.77. Olaplex Holdings, Inc. has a 1 year low of $1.19 and a 1 year high of $4.27. The company has a market cap of $892.84 million, a PE ratio of 15.00 and a beta of 2.28. The company’s 50-day moving average is $1.76 and its two-hundred day moving average is $1.98.

Olaplex (NASDAQ:OLPX) last released its earnings results on Thursday, February 29th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The company had revenue of $111.72 million for the quarter, compared to the consensus estimate of $108.29 million. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue was down 14.5% compared to the same quarter last year. Equities analysts anticipate that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

About Olaplex

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.