Rhumbline Advisers Trims Stock Position in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Rhumbline Advisers cut its position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 10.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,149 shares of the company’s stock after selling 17,012 shares during the period. Rhumbline Advisers’ holdings in Olaplex were worth $183,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OLPX. T. Rowe Price Investment Management Inc. increased its position in shares of Olaplex by 181.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 24,500,600 shares of the company’s stock valued at $42,387,000 after acquiring an additional 15,800,642 shares during the last quarter. Boston Partners increased its position in shares of Olaplex by 276.0% during the fourth quarter. Boston Partners now owns 6,674,169 shares of the company’s stock valued at $11,257,000 after acquiring an additional 4,899,171 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Olaplex by 162.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company’s stock valued at $4,008,000 after purchasing an additional 1,432,400 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Olaplex by 620.8% in the fourth quarter. Marshall Wace LLP now owns 1,001,339 shares of the company’s stock valued at $1,732,000 after purchasing an additional 862,419 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Olaplex by 9.6% in the fourth quarter. Renaissance Technologies LLC now owns 3,076,969 shares of the company’s stock valued at $5,323,000 after purchasing an additional 268,969 shares in the last quarter. 87.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OLPX has been the subject of a number of 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 Friday, May 9th. Wall Street Zen downgraded shares of Olaplex from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Finally, Barclays lifted their price target on shares of Olaplex from $1.20 to $1.40 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Olaplex presently has an average rating of “Hold” and an average price target of $1.85.

Olaplex Stock Down 0.7%

Shares of NASDAQ:OLPX opened at $1.52 on Thursday. The firm has a 50 day simple moving average of $1.32 and a 200-day simple moving average of $1.45. Olaplex Holdings, Inc. has a twelve month low of $1.01 and a twelve month high of $2.77. The company has a market capitalization of $1.01 billion, a PE ratio of 76.04 and a beta of 2.33. The company has a current ratio of 10.74, a quick ratio of 9.53 and a debt-to-equity ratio of 0.73.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.02). Olaplex had a net margin of 2.91% and a return on equity of 6.36%. The business had revenue of $96.98 million during the quarter, compared to analysts’ expectations of $93.82 million. During the same quarter last year, the company earned $0.03 EPS. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities analysts predict that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

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.