491,450 Shares in Olaplex Holdings, Inc. $OLPX Bought by Gabelli Funds LLC

Gabelli Funds LLC purchased a new stake in Olaplex Holdings, Inc. (NASDAQ:OLPX) in the first quarter, HoldingsChannel.com reports. The fund purchased 491,450 shares of the company’s stock, valued at approximately $998,000.

Several other institutional investors and hedge funds have also bought and sold shares of OLPX. Empowered Funds LLC acquired a new stake in Olaplex during the first quarter worth about $576,000. Jane Street Group LLC raised its position in shares of Olaplex by 151.8% in the 1st quarter. Jane Street Group LLC now owns 88,321 shares of the company’s stock valued at $112,000 after buying an additional 258,873 shares in the last quarter. Creative Planning lifted its holdings in shares of Olaplex by 35.0% during the 2nd quarter. Creative Planning now owns 37,357 shares of the company’s stock worth $52,000 after acquiring an additional 9,690 shares during the period. Norges Bank bought a new stake in shares of Olaplex during the 2nd quarter worth approximately $105,000. Finally, Marshall Wace LLP boosted its position in shares of Olaplex by 121.4% during the 2nd quarter. Marshall Wace LLP now owns 346,347 shares of the company’s stock worth $485,000 after acquiring an additional 189,947 shares in the last quarter. Institutional investors own 87.37% of the company’s stock.

Insider Buying and Selling

In other news, insider Trisha L. Fox sold 16,324 shares of Olaplex stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $2.04, for a total transaction of $33,300.96. Following the sale, the insider directly owned 1,064,039 shares of the company’s stock, valued at approximately $2,170,639.56. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 4.80% of the company’s stock.

Olaplex Price Performance

Shares of OLPX opened at $2.07 on Friday. Olaplex Holdings, Inc. has a 52 week low of $0.99 and a 52 week high of $2.09. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -103.50 and a beta of 1.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.34 and a current ratio of 6.27. The stock has a fifty day moving average of $2.06 and a 200-day moving average of $1.84.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings data on Monday, May 11th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $99.37 million for the quarter, compared to the consensus estimate of $94.11 million. Olaplex had a positive return on equity of 2.23% and a negative net margin of 3.53%.The business’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Olaplex Holdings, Inc. will post 0.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

OLPX has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a research report on Tuesday, April 21st. Barclays raised their target price on Olaplex from $1.75 to $2.00 and gave the company an “equal weight” rating in a report on Tuesday, April 14th. Finally, Zacks Research upgraded Olaplex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Olaplex has a consensus rating of “Hold” and an average target price of $1.92.

About Olaplex

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.