Credit Industriel ET Commercial Invests $989,000 in Olaplex Holdings, Inc. $OLPX

Key Points

• Credit Industriel ET Commercial disclosed a new position in Olaplex Holdings, buying 487,400 shares valued at about $989,000 in the first quarter, equal to roughly 0.07% of the company.
• Olaplex reported better-than-expected quarterly results, with EPS of $0.02 versus $0.01 expected and revenue of $99.37 million versus $94.11 million estimated, while revenue rose 2.5% year over year.
• Analysts remain cautious on the stock: the consensus rating is Hold with an average target price of $1.92, even as some firms recently adjusted their ratings and price targets.

Credit Industriel ET Commercial acquired a new position in Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 487,400 shares of the company's stock, valued at approximately $989,000. Credit Industriel ET Commercial owned about 0.07% of Olaplex as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Abel Hall LLC grew its holdings in shares of Olaplex by 44.6% during the first quarter. Abel Hall LLC now owns 28,663 shares of the company's stock worth $58,000 after purchasing an additional 8,845 shares in the last quarter. Creative Planning lifted its stake in Olaplex by 35.0% in the second quarter. Creative Planning now owns 37,357 shares of the company's stock worth $52,000 after purchasing an additional 9,690 shares during the last quarter. Intech Investment Management LLC boosted its position in Olaplex by 15.8% during the third quarter. Intech Investment Management LLC now owns 74,780 shares of the company's stock valued at $98,000 after buying an additional 10,192 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Olaplex by 95.4% in the third quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company's stock worth $39,000 after buying an additional 14,507 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Olaplex in the 4th quarter valued at approximately $25,000. 87.37% of the stock is currently owned by institutional investors.

Olaplex Stock Down 0.1%

Shares of OLPX opened at $2.07 on Tuesday. The firm has a fifty day moving average price of $2.04 and a 200-day moving average price of $1.76. The company has a current ratio of 6.27, a quick ratio of 5.34 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $1.39 billion, a P/E ratio of -103.40 and a beta of 1.85. Olaplex Holdings, Inc. has a 12-month low of $0.99 and a 12-month high of $2.09.

Olaplex (NASDAQ:OLPX - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $99.37 million for the quarter, compared to the consensus estimate of $94.11 million. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. The business's quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts expect that Olaplex Holdings, Inc. will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Trisha L. Fox sold 16,324 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $2.04, for a total value of $33,300.96. Following the completion of the sale, the insider directly owned 1,064,039 shares of the company's stock, valued at $2,170,639.56. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on OLPX shares. Canaccord Genuity Group cut Olaplex from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Weiss Ratings reiterated a "sell (d)" rating on shares of Olaplex in a research note on Tuesday, April 21st. Zacks Research raised Olaplex from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Telsey Advisory Group boosted their price target on Olaplex from $2.00 to $2.06 and gave the stock a "market perform" rating in a research note on Friday, March 27th. Finally, Barclays raised their price target on Olaplex from $1.75 to $2.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $1.92.

About Olaplex

Olaplex, Inc NASDAQ: OLPX is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.

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