Olaplex (NASDAQ:OLPX) Trading Down 5% Following Insider Selling

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price fell 5% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $1.53 and last traded at $1.53. 378,423 shares were traded during mid-day trading, a decline of 82% from the average session volume of 2,045,561 shares. The stock had previously closed at $1.61.

Specifically, VP Kristi A. Belhumeur sold 42,480 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $1.68, for a total value of $71,366.40. Following the completion of the transaction, the vice president now owns 294,553 shares of the company’s stock, valued at approximately $494,849.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on OLPX shares. Truist Financial dropped their price target on Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a research report on Thursday, May 2nd. Finally, Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $1.25 to $2.00 in a research note on Tuesday, March 19th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.59.

Olaplex Stock Performance

The business has a 50 day moving average price of $1.65 and a two-hundred day moving average price of $1.96. The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.21 and a current ratio of 10.92. The company has a market cap of $1.05 billion, a P/E ratio of 22.71 and a beta of 2.34.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Olaplex had a return on equity of 11.68% and a net margin of 10.91%. The firm had revenue of $98.90 million during the quarter, compared to the consensus estimate of $95.15 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s revenue was down 13.1% on a year-over-year basis. On average, sell-side analysts anticipate that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Olaplex

Institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its position in shares of Olaplex by 2,108.4% in the fourth quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock valued at $26,000 after acquiring an additional 9,593 shares during the period. Quent Capital LLC grew its stake in shares of Olaplex by 2,463.8% in the fourth quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock worth $28,000 after purchasing an additional 10,742 shares during the last quarter. Catalina Capital Group LLC purchased a new position in Olaplex during the 1st quarter valued at about $31,000. HB Wealth Management LLC bought a new position in Olaplex during the 4th quarter valued at approximately $35,000. Finally, M&T Bank Corp purchased a new stake in Olaplex in the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 87.37% of the company’s stock.

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.