Olaplex (NASDAQ:OLPX) Trading Down 5% After Insider Selling

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares dropped 5% on Tuesday after an insider sold shares in the company. The stock traded as low as $1.53 and last traded at $1.53. Approximately 378,423 shares traded hands during trading, a decline of 82% from the average daily volume of 2,045,561 shares. The stock had previously closed at $1.61.

Specifically, VP Kristi A. Belhumeur sold 42,480 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $1.68, for a total value of $71,366.40. Following the transaction, the vice president now owns 294,553 shares of the company’s stock, valued at $494,849.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

OLPX has been the subject of a number of recent research reports. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a report on Thursday, May 2nd. Truist Financial cut their price target on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Finally, Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $1.25 to $2.00 in a research note on Tuesday, March 19th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $2.59.

Olaplex Stock Performance

The firm has a market cap of $1.01 billion, a P/E ratio of 21.71 and a beta of 2.34. The business’s fifty day simple moving average is $1.66 and its 200-day simple moving average is $1.97. 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 (NASDAQ:OLPX) last posted its earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Olaplex had a return on equity of 11.68% and a net margin of 10.91%. The company had revenue of $98.90 million for the quarter, compared to analysts’ expectations of $95.15 million. During the same period last year, the firm earned $0.05 earnings per share. Olaplex’s quarterly revenue was down 13.1% on a year-over-year basis. As a group, sell-side analysts expect that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Olaplex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Waldron Private Wealth LLC raised its holdings in Olaplex by 62.0% in the 4th quarter. Waldron Private Wealth LLC now owns 16,227 shares of the company’s stock worth $41,000 after purchasing an additional 6,213 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Olaplex by 2,108.4% during the 4th quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock valued at $26,000 after acquiring an additional 9,593 shares in the last quarter. Quent Capital LLC grew its holdings in shares of Olaplex by 2,463.8% during the 4th quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock worth $28,000 after acquiring an additional 10,742 shares during the period. Pathstone Family Office LLC raised its position in shares of Olaplex by 95.1% in the 3rd quarter. Pathstone Family Office LLC now owns 26,287 shares of the company’s stock worth $51,000 after acquiring an additional 12,813 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new position in shares of Olaplex in the 4th quarter valued at approximately $35,000. Institutional investors own 87.37% of the company’s stock.

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.