Brevan Howard Capital Management LP Buys New Position in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Brevan Howard Capital Management LP purchased a new position in Olaplex Holdings, Inc. (NASDAQ:OLPX) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 58,963 shares of the company’s stock, valued at approximately $102,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Franklin Resources Inc. purchased a new position in Olaplex in the third quarter worth $664,000. Ninety One UK Ltd lifted its stake 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 purchasing an additional 2,112,009 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Olaplex in the 4th quarter worth about $43,000. Boston Partners increased its position in shares of Olaplex by 276.0% during the 4th quarter. Boston Partners now owns 6,674,169 shares of the company’s stock valued at $11,257,000 after purchasing an additional 4,899,171 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Olaplex by 9.6% during the 4th quarter. Renaissance Technologies LLC now owns 3,076,969 shares of the company’s stock valued at $5,323,000 after buying an additional 268,969 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel John C. Duffy sold 35,013 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $50,418.72. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Trisha L. Fox sold 26,526 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $664,629.12. The trade was 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 worth $103,161. 4.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

OLPX has been the topic of several recent research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 target price on shares of Olaplex in a report on Friday. Barclays raised their price objective on Olaplex from $1.20 to $1.40 and gave the company an “equal weight” rating in a research note on Monday.

Olaplex Stock Up 5.1%

Shares of NASDAQ OLPX opened at $1.34 on Tuesday. The firm’s fifty day moving average is $1.29 and its 200 day moving average is $1.57. Olaplex Holdings, Inc. has a 52 week low of $1.01 and a 52 week high of $2.77. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73. The company has a market cap of $888.79 million, a price-to-earnings ratio of 22.25 and a beta of 2.37.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.02). The firm had revenue of $96.98 million for the quarter, compared to the consensus estimate of $93.82 million. Olaplex had a net margin of 9.78% and a return on equity of 10.50%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period last year, the company posted $0.03 earnings per share. On average, equities research analysts expect that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current year.

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.