State of Alaska Department of Revenue Makes New Investment in Olaplex Holdings, Inc. (NASDAQ:OLPX)

State of Alaska Department of Revenue acquired a new position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,573,393 shares of the company's stock, valued at approximately $3,996,000. State of Alaska Department of Revenue owned approximately 0.24% of Olaplex at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in OLPX. Norges Bank acquired a new position in Olaplex during the 4th quarter valued at about $18,806,000. Marshall Wace LLP bought a new stake in Olaplex in the fourth quarter worth approximately $15,920,000. AQR Capital Management LLC grew its position in Olaplex by 142.1% in the first quarter. AQR Capital Management LLC now owns 5,078,963 shares of the company's stock worth $20,875,000 after acquiring an additional 2,980,954 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Olaplex by 19.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,465,001 shares of the company's stock worth $189,722,000 after buying an additional 2,193,104 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Olaplex by 34.8% in the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company's stock worth $20,911,000 after buying an additional 2,124,323 shares during the last quarter. 87.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OLPX has been the subject of several research analyst reports. Telsey Advisory Group reiterated a "market perform" rating and set a $2.00 target price on shares of Olaplex in a research note on Thursday, February 29th. Truist Financial lowered their target price on shares of Olaplex from $7.00 to $3.00 and set a "buy" rating on the stock in a report on Monday, March 4th. Finally, Piper Sandler raised shares of Olaplex from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $1.25 to $2.00 in a report on Tuesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $2.59.

Olaplex Price Performance

Shares of OLPX stock traded down $0.12 on Wednesday, reaching $1.82. The company had a trading volume of 2,573,198 shares, compared to its average volume of 2,041,827. The stock has a market capitalization of $1.20 billion, a PE ratio of 21.56 and a beta of 2.28. The company has a quick ratio of 9.21, a current ratio of 10.92 and a debt-to-equity ratio of 0.77. Olaplex Holdings, Inc. has a one year low of $1.35 and a one year high of $4.30. The business's 50-day moving average is $2.03 and its 200 day moving average is $2.03.

Olaplex (NASDAQ:OLPX - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. The company had revenue of $111.72 million during the quarter, compared to the consensus estimate of $108.29 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The firm's revenue was down 14.5% compared to the same quarter last year. Equities research analysts forecast that Olaplex Holdings, Inc. will post 0.14 EPS 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.