Olaplex (NASDAQ:OLPX) Shares Gap Up After Insider Buying Activity

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $2.19, but opened at $2.30. Olaplex shares last traded at $2.39, with a volume of 442,301 shares changing hands.

Specifically, Director John P. Bilbrey bought 183,493 shares of the stock in a transaction on Monday, August 19th. The shares were bought at an average price of $2.05 per share, with a total value of $376,160.65. Following the purchase, the director now directly owns 241,593 shares in the company, valued at approximately $495,265.65. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Ratings Changes

A number of analysts recently issued reports on OLPX shares. TD Cowen lifted their price objective on Olaplex from $1.80 to $2.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Telsey Advisory Group restated a “market perform” rating and set a $2.00 target price on shares of Olaplex in a report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.18.

Olaplex Stock Up 9.1 %

The company has a current ratio of 9.27, a quick ratio of 7.85 and a debt-to-equity ratio of 0.75. The firm’s fifty day moving average is $1.79 and its 200 day moving average is $1.76. The stock has a market cap of $1.58 billion, a P/E ratio of 34.14 and a beta of 2.42.

Olaplex (NASDAQ:OLPX) last announced its earnings results on Tuesday, August 6th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The business had revenue of $103.90 million for the quarter, compared to analyst estimates of $103.65 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Olaplex’s revenue was down 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Olaplex

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Olaplex by 119,729.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 336,722 shares of the company’s stock worth $855,000 after acquiring an additional 336,441 shares during the period. Greenleaf Trust acquired a new position in Olaplex in the fourth quarter worth $61,000. Signaturefd LLC grew its holdings in Olaplex by 550.2% during the 4th quarter. Signaturefd LLC now owns 28,737 shares of the company’s stock worth $73,000 after acquiring an additional 24,317 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Olaplex by 282.7% in the fourth quarter. Handelsbanken Fonder AB now owns 48,600 shares of the company’s stock valued at $123,000 after purchasing an additional 35,900 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Olaplex by 99.2% in the 4th quarter. Victory Capital Management Inc. now owns 110,754 shares of the company’s stock valued at $281,000 after buying an additional 55,156 shares during the period. 87.37% of the stock is owned by institutional investors and hedge funds.

About Olaplex

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.