Franklin Resources Inc. Takes $664,000 Position in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Franklin Resources Inc. bought a new position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 299,175 shares of the company’s stock, valued at approximately $664,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in Olaplex by 42.0% during the 2nd quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock valued at $30,317,000 after buying an additional 5,824,889 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Olaplex by 5,728.5% during the third quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock worth $6,188,000 after acquiring an additional 2,588,216 shares during the last quarter. Scion Asset Management LLC purchased a new position in Olaplex during the second quarter valued at $1,533,000. Geode Capital Management LLC increased its holdings in Olaplex by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock valued at $8,717,000 after acquiring an additional 468,570 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Olaplex by 49,511.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 269,392 shares of the company’s stock worth $633,000 after purchasing an additional 268,849 shares in the last quarter. Institutional investors own 87.37% of the company’s stock.

Olaplex Stock Performance

Shares of Olaplex stock opened at $1.75 on Monday. The stock’s fifty day moving average price is $1.93 and its 200-day moving average price is $1.98. Olaplex Holdings, Inc. has a 12 month low of $1.19 and a 12 month high of $2.98. The firm has a market cap of $1.16 billion, a P/E ratio of 29.17 and a beta of 2.48. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73.

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

Insider Buying and Selling

In other news, Director John P. Bilbrey purchased 51,697 shares of the stock in a transaction on Monday, November 18th. The stock was bought at an average price of $1.75 per share, with a total value of $90,469.75. Following the transaction, the director now owns 318,418 shares in the company, valued at $557,231.50. The trade was a 19.38 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

OLPX has been the topic of several research reports. Barclays reduced their target price on Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Telsey Advisory Group restated a “market perform” rating and issued a $3.00 target price on shares of Olaplex in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Olaplex presently has an average rating of “Hold” and an average target price of $2.30.

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.