Gabelli Funds LLC Purchases Shares of 491,450 Olaplex Holdings, Inc. $OLPX

Gabelli Funds LLC acquired a new position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 491,450 shares of the company’s stock, valued at approximately $998,000. Gabelli Funds LLC owned 0.07% of Olaplex at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of Olaplex during the 4th quarter worth about $25,000. Abel Hall LLC bought a new stake in shares of Olaplex during the 4th quarter worth about $27,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Olaplex during the 3rd quarter worth about $30,000. Sequoia Financial Advisors LLC acquired a new position in Olaplex in the 1st quarter valued at about $36,000. Finally, BNP Paribas Financial Markets grew its stake in Olaplex by 95.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock valued at $39,000 after buying an additional 14,507 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OLPX. Barclays raised their price objective on shares of Olaplex from $1.75 to $2.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 14th. Zacks Research raised Olaplex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a research note on Tuesday, April 21st. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $1.92.

Olaplex Price Performance

Shares of Olaplex stock opened at $2.07 on Friday. The company has a quick ratio of 5.34, a current ratio of 6.27 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -103.50 and a beta of 1.85. Olaplex Holdings, Inc. has a twelve month low of $0.99 and a twelve month high of $2.09. The company has a 50-day simple moving average of $2.06 and a two-hundred day simple moving average of $1.84.

Olaplex (NASDAQ:OLPX) last announced its earnings results on Monday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. The firm had revenue of $99.37 million for the quarter, compared to analyst estimates of $94.11 million. The company’s revenue was up 2.5% on a year-over-year basis. Analysts forecast that Olaplex Holdings, Inc. will post 0.09 EPS for the current year.

Insider Activity

In related news, insider Trisha L. Fox sold 16,324 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $2.04, for a total value of $33,300.96. Following the completion of the sale, the insider directly owned 1,064,039 shares in the company, valued at approximately $2,170,639.56. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 4.80% of the company’s stock.

Olaplex Profile

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.