Kenneth F. Egan Purchases 10,000 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) Stock

Olaplex Holdings, Inc. (NASDAQ:OLPX) insider Kenneth F. Egan purchased 10,000 shares of Olaplex stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of $1.34 per share, with a total value of $13,400.00. Following the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $13,400. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Olaplex Stock Performance

Olaplex stock traded down $0.08 during midday trading on Tuesday, hitting $1.27. The stock had a trading volume of 1,353,451 shares, compared to its average volume of 2,196,306. The firm’s fifty day moving average is $1.51 and its two-hundred day moving average is $1.86. The company has a market capitalization of $844.07 million, a PE ratio of 21.17 and a beta of 2.44. Olaplex Holdings, Inc. has a 52-week low of $1.19 and a 52-week 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.

Institutional Investors Weigh In On Olaplex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OLPX. T. Rowe Price Investment Management Inc. increased its holdings in Olaplex by 181.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 24,500,600 shares of the company’s stock worth $42,387,000 after acquiring an additional 15,800,642 shares in the last quarter. Boston Partners boosted its stake in Olaplex by 276.0% in the 4th quarter. Boston Partners now owns 6,674,169 shares of the company’s stock worth $11,257,000 after purchasing an additional 4,899,171 shares during the period. Jane Street Group LLC boosted its stake in Olaplex by 5,728.5% in the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock worth $6,188,000 after purchasing an additional 2,588,216 shares during the period. Ninety One UK Ltd boosted its stake in Olaplex by 99.3% in the 4th quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company’s stock worth $7,335,000 after purchasing an additional 2,112,009 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Olaplex by 162.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company’s stock worth $4,008,000 after purchasing an additional 1,432,400 shares during the period. 87.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OLPX has been the subject of several research reports. Barclays upped their price target on shares of Olaplex from $1.50 to $1.70 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price target on shares of Olaplex in a research report on Wednesday, March 12th. Finally, Piper Sandler upped their price target on shares of Olaplex from $1.50 to $2.00 and gave the company a “neutral” rating in a research report on Monday, January 6th.

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.