Olaplex (NASDAQ:OLPX) Shares Down 5% on Insider Selling

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) fell 5% on Tuesday following insider selling activity. The company traded as low as $1.53 and last traded at $1.53. 378,423 shares were traded during 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 firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1.68, for a total value of $71,366.40. Following the transaction, the vice president now directly owns 294,553 shares of the company’s stock, valued at approximately $494,849.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

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

Olaplex Stock Down 5.6 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 10.92 and a quick ratio of 9.21. The business has a 50 day moving average of $1.66 and a 200 day moving average of $1.97. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 21.71 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. Olaplex had a net margin of 10.91% and a return on equity of 11.68%. The company had revenue of $98.90 million during the quarter, compared to analysts’ expectations of $95.15 million. During the same quarter in the prior year, the company posted $0.05 EPS. The business’s revenue was down 13.1% on a year-over-year basis. On average, equities analysts anticipate that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Olaplex

A number of institutional investors have recently added to or reduced their stakes in OLPX. Catalina Capital Group LLC acquired a new position in shares of Olaplex in the 1st quarter worth approximately $31,000. Norden Group LLC bought a new position in shares of Olaplex during the first quarter valued at $70,000. HB Wealth Management LLC boosted its stake in shares of Olaplex by 115.0% in the 1st quarter. HB Wealth Management LLC now owns 29,575 shares of the company’s stock valued at $57,000 after purchasing an additional 15,821 shares in the last quarter. Simplicity Wealth LLC bought a new stake in shares of Olaplex in the 1st quarter worth about $55,000. Finally, Sanders Morris Harris LLC acquired a new stake in shares of Olaplex during the 1st quarter worth about $660,000. 87.37% of the stock is owned by institutional investors and hedge funds.

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.