Commerce Bank Cuts Back on Olaplex Holdings
Commerce Bank recently decreased its position in Olaplex Holdings, Inc. by 98.2%. According to the company’s most recent Form 13F filing with the Securities & Exchange Commission, Commerce Bank sold 1,127,872 shares during the fourth quarter of 2022 and now owns only 21,184 shares of Olaplex stock. The value of these holdings has decreased to $110,000.
Olaplex is a publicly-traded company on the NASDAQ exchange under ticker symbol OLPX. On May 29th, 2023, shares opened at $3.29. Over the past year, OLPX has had a range of highs and lows; a low of $3.18 and a high of $18.23. At present time Olaplex has a market cap of $2.15 billion.
The decision by Commerce Bank to reduce its investment in Olaplex may cause concern for some investors who have been following the beauty and haircare products manufacturer’s fortunes closely over the past year. However, it is important to keep in mind that this decision was made based on factors specific to Commerce Bank’s portfolio requirements and future investment strategies.
For those interested in keeping up with Olaplex’s performance throughout the remainder of the year and beyond, there are resources available online that provide access to daily trading data as well as filings associated with any insider trades executed by members of the Board or other key personnel connected to this dynamic business leader.
HoldingsChannel.com offers an overview of all hedge funds holding OLPX along with insider trade updates and latest SEC filings related to this stock symbol. In addition to this resource other companies like Yahoo Finance can be used for added insights into secure trading strategies related specifically to investing in beauty sector businesses such as Olaplex.
Despite losing its position hold over Olaplex, the company’s future growth potential and profitability remain strong, making it an attractive investment opportunity for individuals and corporations looking to harness the power of this fast-growing sector of the economy. With its innovative products that cater to salon professionals and home consumers alike, Olaplex remains a key player in haircare products today.
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Institutional Investors Active with Olaplex Stock, Analyst Ratings Divided
Institutional investors have recently been active with Olaplex stock, with Price T Rowe Associates Inc. MD lifting its position by 19.5% during the 2nd quarter and Two Sigma Investments LP acquiring a new stake in shares of Olaplex in the 3rd quarter valued at about $10,330,000. Further purchases came from First Republic Investment Management Inc., Goldman Sachs Group Inc., and Alyeska Investment Group L.P., who increased its holdings in shares of Olaplex by 227.9% during the first quarter. With institutional investors owning 91.50% of the company’s stock as of May 29, 2023, it is important to take note of recent analyst reports on the stock.
Goldman Sachs Group downgraded shares of Olaplex from a “buy” rating to a “neutral” rating and set a $6.00 price target for the company on Tuesday, February 28th. Bank of America dropped their price target on shares of Olaplex from $4.00 to $3.25 in a research report on Wednesday, May 10th while TD Cowen downgraded Olaplex from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $10 to $4.50 in a research report on Thursday, March 16th.
Truist Financial, however, lifted their target price on Olaplex from $10 to $15 and six analysts gave a buy rating to the company’s stock according to data from Bloomberg.com with an average price target of $7.66.
Olaplex Holdings, Inc manufactures hair care products such as shampoos and conditioners for use in treatment and protection of hair with revenue coming from salons, retailers and everyday consumers.
Last reported quarterly earnings show that there was a return on equity of 33.05% and net margin of 32.14%. However, quarterly revenue was down by 38.9% compared to the same quarter last year. As analysts predict a forecasted earnings per share of $0.26 for the current financial year, it is important to keep an eye on Olaplex’s performance moving forward with consistent checks placed on both institutional investment and analyst ratings.
