T. Rowe Price Investment Management Inc. Increases Position in Olaplex Holdings, Inc. $OLPX

Key Points

• T. Rowe Price Investment Management Inc. increased its holdings in Olaplex Holdings, Inc. by 12.5%, owning a total of 27,567,214 shares worth approximately $35 million after acquiring more shares in the 1st quarter.
• Several institutional investors have made significant changes to their positions in Olaplex, with 87.37% of the stock now owned by hedge funds and other institutions.
• Olaplex reported a loss of $0.01 per share and revenue of $106.28 million for the quarter, surpassing analysts' expectations, despite missing earnings projections.

T. Rowe Price Investment Management Inc. grew its position in Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 12.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,567,214 shares of the company's stock after acquiring an additional 3,066,614 shares during the quarter. T. Rowe Price Investment Management Inc. owned 4.14% of Olaplex worth $35,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Olaplex by 162.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company's stock valued at $4,008,000 after purchasing an additional 1,432,400 shares during the period. Marshall Wace LLP boosted its position in Olaplex by 620.8% during the 4th quarter. Marshall Wace LLP now owns 1,001,339 shares of the company's stock valued at $1,732,000 after acquiring an additional 862,419 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Olaplex by 287.6% during the 1st quarter. Russell Investments Group Ltd. now owns 713,320 shares of the company's stock valued at $906,000 after acquiring an additional 529,269 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Olaplex by 15.2% in the 1st quarter. TD Asset Management Inc now owns 678,942 shares of the company's stock worth $862,000 after purchasing an additional 89,698 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Olaplex in the 1st quarter worth $428,000. 87.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Canaccord Genuity Group raised Olaplex from a "hold" rating to a "buy" rating and raised their price objective for the stock from $1.50 to $2.00 in a research report on Monday. Telsey Advisory Group reiterated a "market perform" rating and set a $2.00 price objective on shares of Olaplex in a research note on Thursday, August 7th. Wall Street Zen upgraded Olaplex from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Barclays lifted their price target on Olaplex from $1.40 to $1.50 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Olaplex presently has an average rating of "Hold" and an average target price of $1.88.

Olaplex Trading Down 1.7%

OLPX traded down $0.03 during trading hours on Friday, reaching $1.43. The company's stock had a trading volume of 112,095 shares, compared to its average volume of 1,356,752. Olaplex Holdings, Inc. has a fifty-two week low of $1.01 and a fifty-two week high of $2.77. The stock has a market cap of $950.59 million, a PE ratio of 36.50 and a beta of 2.33. The business's 50-day moving average is $1.45 and its 200-day moving average is $1.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.86 and a quick ratio of 3.20.

Olaplex (NASDAQ:OLPX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.02). Olaplex had a negative net margin of 0.30% and a positive return on equity of 3.32%. The business had revenue of $106.28 million during the quarter, compared to analyst estimates of $100.30 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company's revenue was up 2.3% on a year-over-year basis. Olaplex has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

Olaplex 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.