Squarepoint Ops LLC Sells 284,932 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Squarepoint Ops LLC lessened its holdings in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 30.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 660,061 shares of the company's stock after selling 284,932 shares during the quarter. Squarepoint Ops LLC owned 0.10% of Olaplex worth $1,142,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in OLPX. Charles Schwab Investment Management Inc. boosted its stake in Olaplex by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,688 shares of the company's stock valued at $1,861,000 after acquiring an additional 9,661 shares during the period. Belpointe Asset Management LLC raised its holdings in shares of Olaplex by 23.6% in the 4th quarter. Belpointe Asset Management LLC now owns 61,461 shares of the company's stock worth $106,000 after purchasing an additional 11,724 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Olaplex by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 39,052 shares of the company's stock valued at $68,000 after acquiring an additional 12,852 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Olaplex by 290.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company's stock worth $37,000 after buying an additional 15,911 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Olaplex by 27.6% in the 4th quarter. Wells Fargo & Company MN now owns 81,972 shares of the company's stock worth $142,000 after purchasing an additional 17,726 shares during the period. Institutional investors and hedge funds own 87.37% of the company's stock.

Olaplex Stock Up 0.7%

Shares of NASDAQ OLPX traded up $0.01 during mid-day trading on Wednesday, reaching $1.37. 2,304,404 shares of the company's stock were exchanged, compared to its average volume of 2,133,272. The firm has a market capitalization of $912.09 million, a price-to-earnings ratio of 22.84 and a beta of 2.37. Olaplex Holdings, Inc. has a twelve month low of $1.01 and a twelve month high of $2.77. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $1.26 and a 200 day simple moving average of $1.51.

Olaplex (NASDAQ:OLPX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.02). The company had revenue of $96.98 million for the quarter, compared to analyst estimates of $93.82 million. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The firm's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.03 EPS. As a group, equities analysts expect that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Insider Transactions at Olaplex

In related news, insider Trisha L. Fox sold 26,526 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $1.44, for a total transaction of $38,197.44. Following the completion of the sale, the insider now owns 461,548 shares of the company's stock, valued at $664,629.12. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel John C. Duffy sold 35,013 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $50,418.72. Following the transaction, the general counsel now directly owns 348,630 shares in the company, valued at $502,027.20. The trade was a 9.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,109 shares of company stock valued at $123,538. Company insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on OLPX. Wall Street Zen downgraded shares of Olaplex from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Barclays lifted their target price on shares of Olaplex from $1.20 to $1.40 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $2.00 price objective on shares of Olaplex in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $1.85.

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.