Cornerstone Investment Partners LLC Invests $155,000 in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Cornerstone Investment Partners LLC bought a new stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 61,062 shares of the company’s stock, valued at approximately $155,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Olaplex during the fourth quarter valued at about $18,806,000. Marshall Wace LLP acquired a new stake in Olaplex during the fourth quarter worth about $15,920,000. AQR Capital Management LLC increased its stake in Olaplex by 142.1% during the first quarter. AQR Capital Management LLC now owns 5,078,963 shares of the company’s stock valued at $20,875,000 after acquiring an additional 2,980,954 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Olaplex by 19.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,465,001 shares of the company’s stock valued at $189,722,000 after acquiring an additional 2,193,104 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Olaplex by 34.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock worth $20,911,000 after acquiring an additional 2,124,323 shares during the period. 87.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OLPX. Piper Sandler upgraded Olaplex from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $1.25 to $2.00 in a research report on Tuesday, March 19th. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a report on Friday, April 5th. Finally, Truist Financial decreased their target price on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.59.

Olaplex Price Performance

Shares of NASDAQ:OLPX opened at $1.35 on Friday. The company’s fifty day moving average is $1.81 and its 200-day moving average is $1.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.21 and a current ratio of 10.92. Olaplex Holdings, Inc. has a 52 week low of $1.27 and a 52 week high of $4.27. The company has a market capitalization of $892.84 million, a PE ratio of 15.00 and a beta of 2.28.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $111.72 million during the quarter, compared to analyst estimates of $108.29 million. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The company’s revenue was down 14.5% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. Equities research analysts predict that Olaplex Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Olaplex Company Profile

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.