Bleakley Financial Group LLC Sells 13,842 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Bleakley Financial Group LLC reduced its holdings in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 27.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,215 shares of the company’s stock after selling 13,842 shares during the period. Bleakley Financial Group LLC’s holdings in Olaplex were worth $85,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Olaplex by 8.4% during the first quarter. Vanguard Group Inc. now owns 11,935,003 shares of the company’s stock valued at $22,915,000 after acquiring an additional 929,693 shares during the last quarter. Bank of New York Mellon Corp grew its position in Olaplex by 29.1% during the second quarter. Bank of New York Mellon Corp now owns 942,288 shares of the company’s stock valued at $1,451,000 after acquiring an additional 212,129 shares during the last quarter. Scion Asset Management LLC bought a new position in Olaplex during the second quarter valued at approximately $1,533,000. Quadrature Capital Ltd grew its position in Olaplex by 50.4% during the first quarter. Quadrature Capital Ltd now owns 88,206 shares of the company’s stock valued at $170,000 after acquiring an additional 29,545 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Olaplex by 126.4% in the second quarter. The Manufacturers Life Insurance Company now owns 80,843 shares of the company’s stock worth $124,000 after purchasing an additional 45,133 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors.

Olaplex Stock Performance

Shares of OLPX stock opened at $2.00 on Friday. The stock has a fifty day moving average of $2.23 and a 200 day moving average of $1.86. Olaplex Holdings, Inc. has a 52 week low of $1.19 and a 52 week high of $2.98. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 28.57 and a beta of 2.44. The company has a quick ratio of 7.85, a current ratio of 9.27 and a debt-to-equity ratio of 0.75.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. Olaplex had a return on equity of 11.16% and a net margin of 10.95%. The company had revenue of $103.90 million during the quarter, compared to analyst estimates of $103.65 million. During the same quarter last year, the firm posted $0.03 earnings per share. The firm’s revenue was down 4.9% on a year-over-year basis. As a group, research analysts expect that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on OLPX shares. TD Cowen raised their target price on shares of Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.22.

Insider Buying and Selling

In other Olaplex news, Director John P. Bilbrey purchased 183,493 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average price of $2.05 per share, with a total value of $376,160.65. Following the completion of the purchase, the director now directly owns 241,593 shares of the company’s stock, valued at $495,265.65. The trade was a 300.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 4.20% of the stock is currently owned by insiders.

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.