Sanders Morris Harris LLC Cuts Stake in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Sanders Morris Harris LLC reduced its stake in Olaplex Holdings, Inc. (NASDAQ:OLPX) by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 225,000 shares of the company’s stock after selling 129,000 shares during the period. Sanders Morris Harris LLC’s holdings in Olaplex were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Pacer Advisors Inc. grew its stake in shares of Olaplex by 42.0% in the second quarter. Pacer Advisors Inc. now owns 19,686,481 shares of the company’s stock worth $30,317,000 after acquiring an additional 5,824,889 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Olaplex by 14.5% during the third quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock valued at $8,717,000 after buying an additional 468,570 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Olaplex by 5,728.5% during the third quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock valued at $6,188,000 after buying an additional 2,588,216 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Olaplex by 0.6% during the second quarter. Renaissance Technologies LLC now owns 2,501,400 shares of the company’s stock valued at $3,852,000 after buying an additional 14,200 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Olaplex by 20.7% during the second quarter. AQR Capital Management LLC now owns 1,073,878 shares of the company’s stock valued at $1,654,000 after buying an additional 184,091 shares during the last quarter. 87.37% of the stock is owned by hedge funds and other institutional investors.

Olaplex Stock Performance

NASDAQ:OLPX traded down $0.01 on Thursday, hitting $1.57. The stock had a trading volume of 71,174 shares, compared to its average volume of 1,536,005. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 26.17 and a beta of 2.47. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73. The business’s 50-day simple moving average is $1.84 and its two-hundred day simple moving average is $1.97. Olaplex Holdings, Inc. has a 52-week low of $1.19 and a 52-week high of $2.77.

Olaplex (NASDAQ:OLPX) last announced its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $119.10 million for the quarter, compared to analysts’ expectations of $126.51 million. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. As a group, research analysts predict that Olaplex Holdings, Inc. will post 0.11 earnings per share for the current year.

Insider Transactions at Olaplex

In related news, Director John P. Bilbrey acquired 51,697 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $1.75 per share, with a total value of $90,469.75. Following the completion of the purchase, the director now directly owns 318,418 shares of the company’s stock, valued at $557,231.50. This represents a 19.38 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on OLPX. Telsey Advisory Group reaffirmed a “market perform” rating and set a $3.00 price objective on shares of Olaplex in a research report on Thursday, November 7th. Barclays dropped their price objective on Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Finally, Piper Sandler increased their price objective on Olaplex from $1.50 to $2.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Olaplex currently has a consensus rating of “Hold” and a consensus price target of $2.30.

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.