Olaplex (NASDAQ:OLPX) Shares Down 5% Following Insider Selling

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price dropped 5% during mid-day trading 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 mid-day 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 company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $1.68, for a total transaction of $71,366.40. Following the completion of the sale, the vice president now directly owns 294,553 shares of the company’s stock, valued at $494,849.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OLPX. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a research report on Thursday, May 2nd. Truist Financial reduced their target price on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a report on Monday, March 4th. Finally, Piper Sandler raised shares of Olaplex from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $1.25 to $2.00 in a report on Tuesday, March 19th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.59.

Olaplex Stock Performance

The firm has a market cap of $1.01 billion, a PE ratio of 21.71 and a beta of 2.34. The firm’s 50 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 issued its quarterly earnings data 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 business had revenue of $98.90 million for the quarter, compared to analysts’ expectations of $95.15 million. During the same period in the prior year, the firm earned $0.05 EPS. The company’s revenue for the quarter was down 13.1% on a year-over-year basis. On average, research analysts forecast that Olaplex Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Olaplex

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its position in shares of 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 buying an additional 9,593 shares in the last quarter. Quent Capital LLC lifted its stake 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 valued at $28,000 after purchasing an additional 10,742 shares during the last quarter. Catalina Capital Group LLC purchased a new position in shares of Olaplex in the 1st quarter worth approximately $31,000. HB Wealth Management LLC purchased a new position in shares of Olaplex in the 4th quarter worth approximately $35,000. Finally, M&T Bank Corp purchased a new stake in Olaplex during the 3rd quarter valued at $36,000. 87.37% of the stock is owned by hedge funds and other institutional investors.

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.