Insider Selling: Olaplex (NASDAQ:OLPX) Insider Sells 16,324 Shares of Stock

Olaplex Holdings, Inc. (NASDAQ:OLPX) insider Trisha Fox sold 16,324 shares of Olaplex stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $2.04, for a total transaction of $33,300.96. Following the sale, the insider owned 1,064,039 shares of the company’s stock, valued at approximately $2,170,639.56. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Olaplex Stock Performance

NASDAQ OLPX traded up $0.02 on Wednesday, hitting $2.06. 5,443,060 shares of the company’s stock traded hands, compared to its average volume of 3,863,804. The company has a current ratio of 6.27, a quick ratio of 5.34 and a debt-to-equity ratio of 0.40. Olaplex Holdings, Inc. has a 1-year low of $0.99 and a 1-year high of $2.06. The firm’s 50-day moving average price is $1.91 and its two-hundred day moving average price is $1.58. The firm has a market capitalization of $1.38 billion, a PE ratio of -103.00 and a beta of 1.87.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. The firm had revenue of $99.37 million for the quarter, compared to the consensus estimate of $94.11 million. Olaplex’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts expect that Olaplex Holdings, Inc. will post 0.09 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on OLPX. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a research report on Tuesday, April 21st. Evercore set a $2.50 target price on shares of Olaplex in a research report on Friday, March 6th. Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Olaplex from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Canaccord Genuity Group cut shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $1.92.

Institutional Investors Weigh In On Olaplex

Hedge funds have recently modified their holdings of the business. Portolan Capital Management LLC grew its holdings in shares of Olaplex by 132.6% in the third quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock valued at $4,762,000 after purchasing an additional 2,072,383 shares during the period. PSquared Asset Management AG purchased a new position in Olaplex during the first quarter worth about $2,874,000. Russell Investments Group Ltd. boosted its stake in Olaplex by 284.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,909,836 shares of the company’s stock worth $2,559,000 after buying an additional 1,413,423 shares during the period. Balyasny Asset Management L.P. boosted its stake in Olaplex by 1,314.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,508,013 shares of the company’s stock worth $2,111,000 after buying an additional 1,401,369 shares during the period. Finally, Archon Capital Management LLC boosted its stake in Olaplex by 40.4% during the fourth quarter. Archon Capital Management LLC now owns 4,466,876 shares of the company’s stock worth $5,986,000 after buying an additional 1,284,557 shares during the period. 87.37% of the stock is currently owned by institutional investors and hedge funds.

Olaplex Company Profile

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.