Carmignac Gestion Invests $1.73 Million in Olaplex Holdings, Inc. $OLPX

Carmignac Gestion acquired a new stake in Olaplex Holdings, Inc. (NASDAQ:OLPX) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 853,199 shares of the company’s stock, valued at approximately $1,732,000.

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

Analysts Set New Price Targets

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

Olaplex Price Performance

OLPX opened at $2.07 on Monday. The stock’s fifty day simple moving average is $2.06 and its 200 day simple moving average is $1.85. Olaplex Holdings, Inc. has a 1-year low of $0.99 and a 1-year high of $2.09. The stock has a market cap of $1.39 billion, a PE ratio of -103.50 and a beta of 1.85. The company has a current ratio of 6.27, a quick ratio of 5.34 and a debt-to-equity ratio of 0.40.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings data on Monday, May 11th. The company reported $0.02 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 during the quarter, compared to analysts’ expectations of $94.11 million. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, research analysts expect that Olaplex Holdings, Inc. will post 0.09 earnings per share for the current year.

Insider Activity

In other news, insider Trisha L. Fox sold 16,324 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $2.04, for a total transaction of $33,300.96. Following the completion of the sale, the insider owned 1,064,039 shares in the company, valued at approximately $2,170,639.56. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 Company 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.