Sanders Morris Harris LLC Sells 129,000 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Sanders Morris Harris LLC lessened its holdings in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 36.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 225,000 shares of the company’s stock after selling 129,000 shares during the quarter. Sanders Morris Harris LLC’s holdings in Olaplex were worth $394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC raised its stake in Olaplex by 38.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock valued at $40,000 after purchasing an additional 7,235 shares during the period. Abel Hall LLC increased its stake in Olaplex by 68.1% in the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock worth $43,000 after acquiring an additional 7,397 shares during the last quarter. Ballentine Partners LLC bought a new stake in Olaplex in the 3rd quarter worth approximately $28,000. Paragon Capital Management Inc. increased its stake in Olaplex by 40.7% in the 2nd quarter. Paragon Capital Management Inc. now owns 45,638 shares of the company’s stock worth $70,000 after acquiring an additional 13,206 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Olaplex by 0.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company’s stock worth $3,852,000 after acquiring an additional 14,200 shares during the last quarter. Institutional investors own 87.37% of the company’s stock.

Insider Activity at Olaplex

In other Olaplex news, Director John P. Bilbrey acquired 51,697 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of $1.75 per share, for a total transaction of $90,469.75. Following the acquisition, the director now directly owns 318,418 shares in the company, valued at $557,231.50. The trade was a 19.38 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by company insiders.

Olaplex Trading Down 0.6 %

Shares of Olaplex stock traded down $0.01 on Thursday, reaching $1.57. The company had a trading volume of 71,174 shares, compared to its average volume of 1,536,005. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 26.17 and a beta of 2.47. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32. The firm’s 50-day moving average price is $1.84 and its two-hundred day moving average price is $1.97. Olaplex Holdings, Inc. has a 1 year low of $1.19 and a 1 year high of $2.77.

Olaplex (NASDAQ:OLPX) last announced its earnings results on Thursday, November 7th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $126.51 million. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 EPS. As a group, research analysts predict that Olaplex Holdings, Inc. will post 0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OLPX. Barclays reduced their price objective on Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Piper Sandler lifted their price objective on Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $3.00 price objective on shares of Olaplex in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.30.

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.