Ninety One UK Ltd Sells 1,426,752 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Ninety One UK Ltd trimmed its stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 33.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,813,044 shares of the company's stock after selling 1,426,752 shares during the period. Ninety One UK Ltd owned about 0.42% of Olaplex worth $3,573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deutsche Bank AG increased its stake in shares of Olaplex by 33.2% during the 4th quarter. Deutsche Bank AG now owns 86,156 shares of the company's stock worth $149,000 after purchasing an additional 21,454 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Olaplex during the 1st quarter worth approximately $239,000. KLP Kapitalforvaltning AS bought a new position in Olaplex in the 4th quarter valued at approximately $43,000. Boston Partners lifted its stake in Olaplex by 276.0% in the 4th quarter. Boston Partners now owns 6,674,169 shares of the company's stock valued at $11,257,000 after purchasing an additional 4,899,171 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Olaplex by 9.6% in the 4th quarter. Renaissance Technologies LLC now owns 3,076,969 shares of the company's stock valued at $5,323,000 after purchasing an additional 268,969 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OLPX. Barclays upped their price target on shares of Olaplex from $1.20 to $1.40 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Telsey Advisory Group restated a "market perform" rating and issued a $2.00 price target on shares of Olaplex in a research report on Friday, May 9th. Finally, Wall Street Zen cut shares of Olaplex from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $1.85.

Olaplex Trading Down 1.3%

NASDAQ OLPX traded down $0.02 on Wednesday, hitting $1.50. The company's stock had a trading volume of 747,696 shares, compared to its average volume of 1,980,048. Olaplex Holdings, Inc. has a 1-year low of $1.01 and a 1-year high of $2.77. The company's 50-day moving average is $1.36 and its 200 day moving average is $1.41. The firm has a market cap of $998.64 million, a PE ratio of 75.04 and a beta of 2.33. The company has a quick ratio of 9.53, a current ratio of 10.74 and a debt-to-equity ratio of 0.73.

Olaplex (NASDAQ:OLPX - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.00 earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.02). Olaplex had a return on equity of 6.36% and a net margin of 2.91%. The firm had revenue of $96.98 million for the quarter, compared to the consensus estimate of $93.82 million. During the same period in the prior year, the business earned $0.03 EPS. Olaplex's quarterly revenue was down 1.9% on a year-over-year basis. As a group, analysts predict that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

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.