236,302 Shares in Olaplex Holdings, Inc. (NASDAQ:OLPX) Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. bought a new stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX – Get Rating) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 236,302 shares of the company’s stock, valued at approximately $1,231,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American International Group Inc. raised its stake in Olaplex by 98.6% in the 2nd quarter. American International Group Inc. now owns 1,940 shares of the company’s stock worth $27,000 after acquiring an additional 963 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Olaplex by 156.2% in the 2nd quarter. Captrust Financial Advisors now owns 1,998 shares of the company’s stock valued at $28,000 after purchasing an additional 1,218 shares during the period. Rhumbline Advisers boosted its stake in shares of Olaplex by 2.4% during the 1st quarter. Rhumbline Advisers now owns 62,830 shares of the company’s stock worth $982,000 after acquiring an additional 1,456 shares in the last quarter. First Manhattan Co. grew its holdings in Olaplex by 6,000.0% in the first quarter. First Manhattan Co. now owns 2,135 shares of the company’s stock valued at $33,000 after purchasing an additional 2,100 shares during the period. Finally, MetLife Investment Management LLC acquired a new stake in Olaplex in the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 91.50% of the company’s stock.

Olaplex Price Performance

OLPX stock opened at $3.46 on Wednesday. The business has a 50 day moving average price of $3.83 and a 200 day moving average price of $4.95. Olaplex Holdings, Inc. has a fifty-two week low of $3.25 and a fifty-two week high of $18.23. The company has a quick ratio of 7.41, a current ratio of 9.68 and a debt-to-equity ratio of 0.81. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.21 and a beta of 1.55.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Truist Financial lifted their price objective on Olaplex from $10.00 to $15.00 in a report on Friday, March 3rd. The Goldman Sachs Group cut shares of Olaplex from a “buy” rating to a “neutral” rating and set a $6.00 price objective for the company. in a research report on Tuesday, February 28th. Bank of America reduced their target price on Olaplex from $4.00 to $3.25 in a research report on Wednesday, May 10th. Piper Sandler reduced their price target on shares of Olaplex from $5.00 to $4.00 in a research note on Thursday, March 16th. Finally, Telsey Advisory Group cut their price objective on Olaplex from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company 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.