Pacer Advisors Inc. Grows Position in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Pacer Advisors Inc. increased its stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 42.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,686,481 shares of the company’s stock after acquiring an additional 5,824,889 shares during the quarter. Pacer Advisors Inc. owned about 2.97% of Olaplex worth $30,317,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Olaplex by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock worth $22,915,000 after acquiring an additional 929,693 shares in the last quarter. Sanders Morris Harris LLC bought a new position in Olaplex during the first quarter valued at $660,000. Norden Group LLC purchased a new position in shares of Olaplex in the 1st quarter worth $563,000. Bank of New York Mellon Corp increased its holdings in shares of Olaplex by 29.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock worth $1,451,000 after buying an additional 212,129 shares during the last quarter. Finally, PEAK6 Investments LLC purchased a new stake in shares of Olaplex during the 1st quarter valued at about $232,000. 87.37% of the stock is owned by hedge funds and other institutional investors.

Olaplex Stock Performance

Olaplex stock opened at $2.25 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 9.27 and a quick ratio of 7.85. The firm has a market capitalization of $1.49 billion, a P/E ratio of 32.14 and a beta of 2.42. Olaplex Holdings, Inc. has a 1-year low of $1.19 and a 1-year high of $2.98. The company’s 50-day moving average is $2.08 and its 200 day moving average is $1.79.

Olaplex (NASDAQ:OLPX) last issued its quarterly 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. The firm had revenue of $103.90 million during the quarter, compared to analyst estimates of $103.65 million. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. Olaplex’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.03 EPS. Research analysts forecast that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

OLPX has been the topic of several analyst reports. TD Cowen boosted their price objective on Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Olaplex presently has an average rating of “Hold” and an average target price of $2.18.

Insider Transactions at Olaplex

In related news, Director John P. Bilbrey purchased 183,493 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were purchased at an average cost of $2.05 per share, for a total transaction of $376,160.65. Following the completion of the acquisition, the director now owns 241,593 shares in the company, valued at approximately $495,265.65. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Olaplex Company Profile

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.