Olaplex Holdings, Inc. (NASDAQ:OLPX) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in Olaplex Holdings, Inc. (NASDAQ:OLPX) by 282.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,600 shares of the company’s stock after acquiring an additional 35,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Olaplex were worth $123,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OLPX. Pacer Advisors Inc. increased its holdings in shares of Olaplex by 34.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock valued at $20,911,000 after acquiring an additional 2,124,323 shares during the period. State of Alaska Department of Revenue acquired a new position in Olaplex in the 4th quarter valued at $3,996,000. Vanguard Group Inc. increased its stake in Olaplex by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock valued at $18,796,000 after buying an additional 787,242 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Olaplex by 119,729.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 336,722 shares of the company’s stock valued at $855,000 after purchasing an additional 336,441 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Olaplex by 86.5% in the 3rd quarter. Hsbc Holdings PLC now owns 627,989 shares of the company’s stock valued at $1,221,000 after purchasing an additional 291,191 shares in the last quarter. 87.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OLPX shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a research report on Thursday. Piper Sandler upgraded Olaplex from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $1.25 to $2.00 in a report on Tuesday, March 19th. Finally, Truist Financial cut 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. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.59.

Olaplex Stock Down 1.8 %

Shares of NASDAQ:OLPX opened at $1.61 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.21 and a current ratio of 10.92. Olaplex Holdings, Inc. has a 1 year low of $1.19 and a 1 year high of $4.27. The stock has a market capitalization of $1.06 billion, a P/E ratio of 17.89 and a beta of 2.34. The stock has a 50-day simple moving average of $1.68 and a 200-day simple moving average of $1.96.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $98.90 million during the quarter, compared to analysts’ expectations of $95.15 million. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. Olaplex’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 EPS. Equities analysts forecast that Olaplex Holdings, Inc. will post 0.14 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.