Russell Investments Group Ltd. Purchases Shares of 421,905 Olaplex Holdings, Inc. (NASDAQ:OLPX)

Russell Investments Group Ltd. purchased a new stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 421,905 shares of the company’s stock, valued at approximately $2,198,000. Russell Investments Group Ltd. owned 0.06% of Olaplex at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. American International Group Inc. raised its position in shares of Olaplex by 98.6% during the second quarter. American International Group Inc. now owns 1,940 shares of the company’s stock valued at $27,000 after buying an additional 963 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Olaplex by 156.2% during the second quarter. Captrust Financial Advisors now owns 1,998 shares of the company’s stock valued at $28,000 after buying an additional 1,218 shares during the last quarter. Rhumbline Advisers raised its position in shares of Olaplex by 2.4% during the first quarter. Rhumbline Advisers now owns 62,830 shares of the company’s stock valued at $982,000 after buying an additional 1,456 shares during the last quarter. First Manhattan Co. raised its position in shares of Olaplex by 6,000.0% during the first 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. Finally, MetLife Investment Management LLC acquired a new position in shares of Olaplex during the first quarter valued at about $36,000. 91.50% of the stock is currently owned by institutional investors.

Olaplex Stock Performance

NASDAQ OLPX opened at $3.36 on Monday. Olaplex Holdings, Inc. has a 1-year low of $3.25 and a 1-year high of $18.23. The company has a current ratio of 9.68, a quick ratio of 7.41 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average of $3.86 and a 200-day moving average of $4.96. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.20 and a beta of 1.55.

Olaplex (NASDAQ:OLPX – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. Olaplex had a net margin of 32.14% and a return on equity of 33.05%. The business had revenue of $113.79 million for the quarter, compared to analysts’ expectations of $110.19 million. During the same period in the prior year, the firm earned $0.13 earnings per share. Olaplex’s revenue was down 38.9% compared to the same quarter last year. On average, equities analysts forecast that Olaplex Holdings, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on OLPX. Morgan Stanley cut their price objective on shares of Olaplex from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Tuesday, March 7th. Truist Financial increased their price target on shares of Olaplex from $10.00 to $15.00 in a research report on Friday, March 3rd. Bank of America dropped their price target on shares of Olaplex from $4.00 to $3.25 in a research report on Wednesday, May 10th. Piper Sandler dropped their price target on shares of Olaplex from $5.00 to $4.00 in a research report on Thursday, March 16th. Finally, Telsey Advisory Group dropped their price target on shares of Olaplex from $9.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, March 1st. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Olaplex currently has a consensus rating of “Hold” and a consensus price target of $7.66.

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.