T. Rowe Price Investment Management Inc. Boosts Holdings 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. raised its holdings in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 12.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,567,214 shares of the company's stock after buying an additional 3,066,614 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 4.14% of Olaplex worth $35,011,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Olaplex by 162.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company's stock valued at $4,008,000 after acquiring an additional 1,432,400 shares in the last quarter. Marshall Wace LLP lifted its stake in Olaplex by 620.8% in the 4th quarter. Marshall Wace LLP now owns 1,001,339 shares of the company's stock worth $1,732,000 after purchasing an additional 862,419 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Olaplex by 287.6% during the 1st quarter. Russell Investments Group Ltd. now owns 713,320 shares of the company's stock worth $906,000 after purchasing an additional 529,269 shares during the last quarter. Nuveen LLC acquired a new position in shares of Olaplex during the 1st quarter worth approximately $428,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Olaplex during the 1st quarter worth approximately $239,000. 87.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OLPX. Canaccord Genuity Group upgraded Olaplex from a "hold" rating to a "buy" rating and boosted their target price for the stock from $1.50 to $2.00 in a report on Monday. Barclays boosted their target price on Olaplex from $1.40 to $1.50 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Telsey Advisory Group restated a "market perform" rating and set a $2.00 target price on shares of Olaplex in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded Olaplex from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $1.88.

Olaplex Price Performance

Shares of OLPX stock remained flat at $1.46 during trading on Wednesday. 675,318 shares of the stock traded hands, compared to its average volume of 1,368,968. The company has a market capitalization of $973.94 million, a price-to-earnings ratio of 35.00 and a beta of 2.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.86 and a quick ratio of 3.20. The firm's 50-day moving average price is $1.45 and its two-hundred day moving average price is $1.37. Olaplex Holdings, Inc. has a 1 year low of $1.01 and a 1 year high of $2.77.

Olaplex (NASDAQ:OLPX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.01) earnings per share (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 firm had revenue of $106.28 million during the quarter, compared to analysts' expectations of $100.30 million. During the same period in the previous year, the firm earned $0.03 EPS. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. Olaplex has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current 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.