Millennium Management LLC Decreases Stock Holdings in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Millennium Management LLC cut its stake in Olaplex Holdings, Inc. (NASDAQ:OLPX) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,130,259 shares of the company’s stock after selling 77,805 shares during the period. Millennium Management LLC owned approximately 0.17% of Olaplex worth $1,955,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new stake in shares of Olaplex in the 4th quarter worth approximately $34,000. BNP Paribas Financial Markets purchased a new stake in Olaplex during the fourth quarter worth $35,000. Parkside Financial Bank & Trust grew its holdings in Olaplex by 290.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company’s stock valued at $37,000 after purchasing an additional 15,911 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Olaplex in the fourth quarter valued at $43,000. Finally, Virtu Financial LLC purchased a new position in shares of Olaplex in the fourth quarter valued at $55,000. 87.37% of the stock is owned by hedge funds and other institutional investors.

Olaplex Stock Down 3.0%

OLPX opened at $1.28 on Tuesday. The firm has a market cap of $852.17 million, a P/E ratio of 21.34 and a beta of 2.37. The business’s fifty day simple moving average is $1.26 and its 200 day simple moving average is $1.51. Olaplex Holdings, Inc. has a 52 week low of $1.01 and a 52 week high of $2.77. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73.

Olaplex (NASDAQ:OLPX) last released its earnings results on Thursday, May 8th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.02). The firm had revenue of $96.98 million during the quarter, compared to analysts’ expectations of $93.82 million. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. Olaplex’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.03 earnings per share. As a group, equities research analysts anticipate that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Trisha L. Fox sold 26,526 shares of Olaplex 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 of the company’s stock, valued at $664,629.12. The trade was a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel John C. Duffy sold 35,013 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $50,418.72. Following the completion of the sale, the general counsel now directly owns 348,630 shares in the company, valued at approximately $502,027.20. The trade was a 9.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,109 shares of company stock worth $123,538. 4.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OLPX shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a research report on Friday, May 9th. Barclays upped their price target on shares of Olaplex from $1.20 to $1.40 and gave the company an “equal weight” rating in a report on Monday, May 12th. Finally, Wall Street Zen cut shares of Olaplex from a “hold” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $1.85.

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.