Olaplex (NASDAQ:OLPX) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Olaplex (NASDAQ:OLPX) in a research report sent to investors on Friday morning,Benzinga reports. Telsey Advisory Group currently has a $2.00 target price on the stock.

Separately, Barclays raised their price objective on shares of Olaplex from $1.50 to $1.70 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th.

Olaplex Stock Down 7.3%

Shares of NASDAQ OLPX opened at $1.27 on Friday. The stock has a market capitalization of $845.51 million, a PE ratio of 21.17 and a beta of 2.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32. The business’s fifty day moving average price is $1.30 and its 200-day moving average price is $1.58. Olaplex has a one year low of $1.01 and a one year high of $2.77.

Insider Activity at Olaplex

In related news, insider Trisha L. Fox sold 26,526 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $38,197.44. Following the completion of the transaction, the insider now directly owns 461,548 shares of the company’s stock, valued at $664,629.12. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel John C. Duffy sold 35,013 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $50,418.72. Following the completion of the transaction, the general counsel now owns 348,630 shares of the company’s stock, valued at approximately $502,027.20. This trade represents a 9.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,269 shares of company stock valued at $103,161. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Olaplex

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. purchased a new position in shares of Olaplex in the third quarter worth $664,000. Chemistry Wealth Management LLC purchased a new stake in Olaplex in the 4th quarter worth $25,000. Cornerstone Wealth Management LLC purchased a new stake in Olaplex during the 4th quarter valued at approximately $36,000. Ninety One UK Ltd boosted its holdings in shares of Olaplex by 99.3% during the 4th quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company’s stock valued at $7,335,000 after purchasing an additional 2,112,009 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Olaplex by 290.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company’s stock valued at $37,000 after acquiring an additional 15,911 shares during the last quarter. Institutional investors own 87.37% 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.