Commerce Bank Trims Stake in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Posted by Defense World Staff on Aug 12th, 2023

Commerce Bank reduced its position in Olaplex Holdings, Inc. (NASDAQ:OLPX – Free Report) by 24.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 15,915 shares of the company’s stock after selling 5,269 shares during the period. Commerce Bank’s holdings in Olaplex were worth $68,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in OLPX. American International Group Inc. lifted its holdings in shares of Olaplex by 98.6% in the 2nd quarter. American International Group Inc. now owns 1,940 shares of the company’s stock valued at $27,000 after purchasing an additional 963 shares during the last quarter. Captrust Financial Advisors raised its stake in Olaplex by 156.2% during the 2nd quarter. Captrust Financial Advisors now owns 1,998 shares of the company’s stock valued at $28,000 after acquiring an additional 1,218 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Olaplex by 14,330.2% during the 4th quarter. Quadrant Capital Group LLC now owns 6,205 shares of the company’s stock valued at $32,000 after acquiring an additional 6,162 shares during the last quarter. First Manhattan Co. raised its stake in Olaplex by 6,000.0% during the 1st quarter. First Manhattan Co. now owns 2,135 shares of the company’s stock valued at $33,000 after acquiring an additional 2,100 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in Olaplex during the 1st quarter valued at approximately $36,000. 91.63% of the stock is owned by hedge funds and other institutional investors.

Olaplex Stock Performance

OLPX opened at $2.60 on Friday. The stock has a market cap of $1.70 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.01 and a beta of 1.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 9.32 and a quick ratio of 7.41. The stock’s 50 day simple moving average is $3.67 and its 200 day simple moving average is $4.18. Olaplex Holdings, Inc. has a 1-year low of $2.49 and a 1-year high of $16.55.

Olaplex (NASDAQ:OLPX – Get Free Report) last posted its earnings results on Tuesday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Olaplex had a net margin of 22.92% and a return on equity of 21.92%. The company had revenue of $109.24 million during the quarter, compared to analysts’ expectations of $129.86 million. During the same period in the previous year, the company posted $0.14 EPS. Olaplex’s quarterly revenue was down 48.2% compared to the same quarter last year. As a group, equities analysts anticipate that Olaplex Holdings, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on OLPX shares. The Goldman Sachs Group reduced their price objective on Olaplex from $6.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday. Morgan Stanley reduced their price objective on Olaplex from $4.00 to $3.65 and set an “equal weight” rating for the company in a research note on Wednesday. Canaccord Genuity Group reaffirmed a “hold” rating and set a $3.00 price objective (down from $5.00) on shares of Olaplex in a research note on Friday. Bank of America dropped their target price on Olaplex from $4.00 to $3.25 in a research report on Wednesday, May 10th. Finally, Barclays dropped their target price on Olaplex from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Olaplex presently has an average rating of “Hold” and an average price target of $5.76.

View Our Latest Report on OLPX

Olaplex Profile

(Free Report)

Olaplex Holdings, Inc develops, manufactures, and sells hair care products. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.

Commerce Bank Trims Stake in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Olaplex Stock Performance

Analyst Ratings Changes

Olaplex Profile

Further Reading

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