Allspring Global Investments Holdings LLC Raises Stock Position in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Allspring Global Investments Holdings LLC boosted its position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 119,729.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,722 shares of the company’s stock after purchasing an additional 336,441 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.05% of Olaplex worth $855,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quent Capital LLC grew its holdings in Olaplex by 2,463.8% during the 4th quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock valued at $28,000 after purchasing an additional 10,742 shares in the last quarter. Oak Thistle LLC acquired a new stake in Olaplex during the 3rd quarter valued at $25,000. HB Wealth Management LLC acquired a new position in Olaplex during the 4th quarter worth $35,000. Bleakley Financial Group LLC acquired a new position in Olaplex during the 4th quarter worth $46,000. Finally, M&T Bank Corp acquired a new position in Olaplex during the 3rd quarter worth $36,000. 87.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OLPX has been the subject of several research reports. Piper Sandler raised shares of Olaplex from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $1.25 to $2.00 in a report on Tuesday, March 19th. Truist Financial decreased their price target on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a report on Monday, March 4th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a report on Friday, April 5th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Olaplex has an average rating of “Hold” and an average target price of $2.59.

Olaplex Trading Up 7.1 %

Shares of NASDAQ:OLPX opened at $1.35 on Thursday. The company has a market cap of $892.84 million, a PE ratio of 15.00 and a beta of 2.28. The company’s 50-day moving average price is $1.76 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 $4.27. The company has a quick ratio of 9.21, a current ratio of 10.92 and a debt-to-equity ratio of 0.77.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The company had revenue of $111.72 million for the quarter, compared to the consensus estimate of $108.29 million. During the same period in the previous year, the firm earned $0.07 EPS. Olaplex’s revenue was down 14.5% on a year-over-year basis. Sell-side analysts anticipate that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Olaplex 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.