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

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s share price traded down 5% during trading on Tuesday following insider selling activity. The company traded as low as $1.53 and last traded at $1.53. 378,423 shares changed hands 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 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 completion of the sale, 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 legal filing with the SEC, which is available at this link. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

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

Olaplex Stock Performance

The company has a fifty day moving average of $1.65 and a two-hundred day moving average of $1.96. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 22.71 and a beta of 2.34. 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 (NASDAQ:OLPX) last posted its earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. Olaplex had a return on equity of 11.68% and a net margin of 10.91%. The company had revenue of $98.90 million during the quarter, compared to the consensus estimate of $95.15 million. During the same quarter last year, the firm earned $0.05 earnings per share. The company’s revenue was down 13.1% on a year-over-year basis. As a group, equities research analysts predict that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Olaplex

A number of institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised 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 buying an additional 9,593 shares in the last quarter. Quent Capital LLC raised its holdings in Olaplex by 2,463.8% in the 4th quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock valued at $28,000 after acquiring an additional 10,742 shares in the last quarter. HB Wealth Management LLC bought a new stake in shares of Olaplex during the 4th quarter valued at $35,000. Catalina Capital Group LLC acquired a new stake in shares of Olaplex during the 1st quarter worth $31,000. Finally, Waldron Private Wealth LLC increased its position in shares of Olaplex by 62.0% in the fourth quarter. Waldron Private Wealth LLC now owns 16,227 shares of the company’s stock worth $41,000 after purchasing an additional 6,213 shares during the period. 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.