Bank of Montreal Can Reduces Holdings in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Bank of Montreal Can trimmed its stake in Olaplex Holdings, Inc. (NASDAQ:OLPXGet Rating) by 26.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 509,282 shares of the company’s stock after selling 187,235 shares during the period. Bank of Montreal Can’s holdings in Olaplex were worth $8,302,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. First Manhattan Co. grew its position in shares of Olaplex by 6,000.0% in the 1st quarter. First Manhattan Co. now owns 2,135 shares of the company’s stock valued at $33,000 after buying an additional 2,100 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Olaplex during the 1st quarter worth $36,000. High Net Worth Advisory Group LLC acquired a new stake in Olaplex during the 1st quarter worth $81,000. Penserra Capital Management LLC boosted its stake in Olaplex by 126.3% during the 1st quarter. Penserra Capital Management LLC now owns 9,912 shares of the company’s stock worth $154,000 after purchasing an additional 5,532 shares during the period. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Olaplex during the 1st quarter worth $158,000. 92.31% of the stock is owned by hedge funds and other institutional investors.

Olaplex Stock Up 0.2 %

Shares of NASDAQ OLPX opened at $5.41 on Friday. The company has a quick ratio of 3.91, a current ratio of 5.61 and a debt-to-equity ratio of 0.88. Olaplex Holdings, Inc. has a 52 week low of $3.80 and a 52 week high of $30.41. The firm has a 50-day moving average price of $7.33 and a 200 day moving average price of $12.27. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.17 and a beta of 1.02.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OLPX. Bank of America cut shares of Olaplex from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $15.00 to $5.00 in a research note on Wednesday, October 19th. Cowen decreased their price target on shares of Olaplex from $22.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, October 19th. JPMorgan Chase & Co. cut shares of Olaplex from an “overweight” rating to an “underweight” rating and decreased their price target for the stock from $16.00 to $8.00 in a research note on Wednesday, October 19th. Morgan Stanley reduced their target price on shares of Olaplex from $6.50 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, November 10th. Finally, Canaccord Genuity Group began coverage on shares of Olaplex in a research note on Thursday, November 17th. They issued a “buy” rating and a $8.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.15.

Olaplex Profile

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Olaplex Holdings, Inc manufactures and sells hair care products. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair. It provides hair care products to professional hair salons, retailers, and everyday consumers. The company was founded in 2014 and is based in Santa Barbara, California.

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Institutional Ownership by Quarter for Olaplex (NASDAQ:OLPX)

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