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

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) traded down 5% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $1.53 and last traded at $1.53. Approximately 378,423 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 2,045,561 shares. The stock had previously closed at $1.61.

Specifically, VP Kristi A. Belhumeur sold 42,480 shares of Olaplex stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $1.68, for a total transaction of $71,366.40. Following the completion of the transaction, the vice president now owns 294,553 shares in the company, valued at approximately $494,849.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Olaplex Trading Down 5.6 %

The company has a market cap of $1.01 billion, a PE ratio of 21.71 and a beta of 2.34. The company has a current ratio of 10.92, a quick ratio of 9.21 and a debt-to-equity ratio of 0.77. The firm has a fifty day moving average of $1.66 and a two-hundred day moving average of $1.97.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $98.90 million for the quarter, compared to analyst estimates of $95.15 million. Olaplex had a net margin of 10.91% and a return on equity of 11.68%. The company’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share. As a group, sell-side analysts predict that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Institutional Trading of Olaplex

A number of hedge funds and other institutional investors have recently made changes to their positions in OLPX. Catalina Capital Group LLC purchased a new position in Olaplex during the 1st quarter valued at about $31,000. Norden Group LLC purchased a new position in Olaplex during the first quarter valued at approximately $70,000. HB Wealth Management LLC increased its holdings in Olaplex by 115.0% during the 1st quarter. HB Wealth Management LLC now owns 29,575 shares of the company’s stock worth $57,000 after acquiring an additional 15,821 shares during the period. Simplicity Wealth LLC purchased a new stake in Olaplex in the 1st quarter worth approximately $55,000. Finally, Sanders Morris Harris LLC purchased a new position in shares of Olaplex during the 1st quarter valued at $660,000. 87.37% of the stock is currently owned by institutional investors.

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.