State Street Corp Cuts Stock Position in Olaplex Holdings, Inc. (NASDAQ:OLPX)

State Street Corp decreased its holdings in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,995,118 shares of the company’s stock after selling 15,954 shares during the quarter. State Street Corp owned about 0.45% of Olaplex worth $7,039,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Cinctive Capital Management LP bought a new stake in shares of Olaplex in the 3rd quarter worth about $38,000. Rockefeller Capital Management L.P. purchased a new position in Olaplex in the third quarter worth about $395,000. MetLife Investment Management LLC grew its position in Olaplex by 56.4% in the third quarter. MetLife Investment Management LLC now owns 57,903 shares of the company’s stock worth $136,000 after acquiring an additional 20,891 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Olaplex during the third quarter worth approximately $141,000. Finally, Charles Schwab Investment Management Inc. raised its position in Olaplex by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,066,027 shares of the company’s stock valued at $2,505,000 after purchasing an additional 102,752 shares during the period. Institutional investors own 87.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $3.00 target price on shares of Olaplex in a report on Thursday, November 7th. Barclays dropped their price objective on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.30.

Insider Buying and Selling at Olaplex

In related news, Director John P. Bilbrey purchased 51,697 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average price of $1.75 per share, with a total value of $90,469.75. Following the completion of the purchase, the director now owns 318,418 shares of the company’s stock, valued at approximately $557,231.50. The trade was a 19.38 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 4.20% of the stock is owned by corporate insiders.

Olaplex Trading Down 2.2 %

Shares of NASDAQ OLPX opened at $1.75 on Friday. The business’s 50 day moving average price is $1.93 and its 200-day moving average price is $1.98. Olaplex Holdings, Inc. has a fifty-two week low of $1.19 and a fifty-two week high of $2.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 29.17 and a beta of 2.48.

Olaplex (NASDAQ:OLPX) last released its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $119.10 million during the quarter, compared to the consensus estimate of $126.51 million. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. On average, sell-side analysts expect that Olaplex Holdings, Inc. will post 0.11 earnings per share for the current year.

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.