Olaplex's (OLPX) "Market Perform" Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Olaplex (NASDAQ:OLPX - Free Report) in a research note issued to investors on Friday,Benzinga reports. They currently have a $2.00 price target on the stock.

Separately, Barclays boosted their target price on shares of Olaplex from $1.50 to $1.70 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th.

Olaplex Stock Up 5.1%

Shares of NASDAQ:OLPX traded up $0.07 during trading on Friday, hitting $1.34. The company's stock had a trading volume of 2,631,549 shares, compared to its average volume of 2,156,266. The business has a 50 day moving average price of $1.29 and a two-hundred day moving average price of $1.57. The company has a market capitalization of $888.79 million, a PE ratio of 22.25 and a beta of 2.37. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84. Olaplex has a fifty-two week low of $1.01 and a fifty-two week high of $2.77.

Insider Activity

In related news, General Counsel John C. Duffy sold 35,013 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.44, for a total transaction of $50,418.72. Following the completion of the transaction, the general counsel now directly owns 348,630 shares of the company's stock, valued at $502,027.20. This represents a 9.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Trisha L. Fox sold 26,526 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $1.44, for a total transaction of $38,197.44. Following the transaction, the insider now directly owns 461,548 shares of the company's stock, valued at $664,629.12. This represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,269 shares of company stock valued at $103,161. Insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in Olaplex by 181.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 24,500,600 shares of the company's stock worth $42,387,000 after purchasing an additional 15,800,642 shares in the last quarter. Boston Partners grew its position in Olaplex by 276.0% during the fourth quarter. Boston Partners now owns 6,674,169 shares of the company's stock worth $11,257,000 after buying an additional 4,899,171 shares during the period. Ninety One UK Ltd grew its position in Olaplex by 99.3% during the fourth quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company's stock worth $7,335,000 after buying an additional 2,112,009 shares during the period. Renaissance Technologies LLC grew its position in Olaplex by 9.6% during the fourth quarter. Renaissance Technologies LLC now owns 3,076,969 shares of the company's stock worth $5,323,000 after buying an additional 268,969 shares during the period. Finally, Dimensional Fund Advisors LP grew 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 worth $4,008,000 after buying an additional 1,432,400 shares during the period. 87.37% of the stock is owned by hedge funds and other institutional investors.

About Olaplex

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.