Belpointe Asset Management LLC Increases Stock Holdings in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Belpointe Asset Management LLC increased its position in Olaplex Holdings, Inc. (NASDAQ:OLPX) by 23.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,461 shares of the company’s stock after acquiring an additional 11,724 shares during the quarter. Belpointe Asset Management LLC’s holdings in Olaplex were worth $106,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Chemistry Wealth Management LLC bought a new position in Olaplex in the 4th quarter valued at $25,000. Cornerstone Wealth Management LLC bought a new stake in Olaplex during the fourth quarter valued at $36,000. Parkside Financial Bank & Trust grew its position in Olaplex by 290.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company’s stock worth $37,000 after buying an additional 15,911 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Olaplex in the 4th quarter worth about $43,000. Finally, Virtu Financial LLC purchased a new stake in shares of Olaplex in the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OLPX. Barclays upped their price objective on shares of Olaplex from $1.50 to $1.70 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a report on Wednesday, March 12th. Finally, Piper Sandler lifted their price objective on shares of Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a report on Monday, January 6th.

Olaplex Stock Up 5.2 %

Shares of NASDAQ OLPX opened at $1.22 on Friday. The stock has a market capitalization of $810.84 million, a P/E ratio of 20.34 and a beta of 2.39. Olaplex Holdings, Inc. has a one year low of $1.01 and a one year high of $2.77. The firm’s 50 day simple moving average is $1.35 and its two-hundred day simple moving average is $1.68. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32.

Insider Activity

In other Olaplex news, General Counsel John C. Duffy sold 35,013 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $50,418.72. Following the sale, the general counsel now owns 348,630 shares of the company’s stock, valued at $502,027.20. This trade represents a 9.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Trisha L. Fox sold 26,526 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were 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 approximately $664,629.12. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,269 shares of company stock valued at $103,161. Corporate insiders own 4.20% of the company’s stock.

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.