VELA Investment Management LLC Purchases 3,658 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

VELA Investment Management LLC increased its position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 36.6% in the 4th quarter, HoldingsChannel reports. The firm owned 13,642 shares of the company’s stock after acquiring an additional 3,658 shares during the quarter. VELA Investment Management LLC’s holdings in Ollie’s Bargain Outlet were worth $1,497,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Versor Investments LP bought a new stake in Ollie’s Bargain Outlet during the fourth quarter worth about $463,000. Oppenheimer Asset Management Inc. lifted its position in Ollie’s Bargain Outlet by 43.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 57,106 shares of the company’s stock worth $6,266,000 after purchasing an additional 17,433 shares during the period. NewEdge Wealth LLC bought a new stake in Ollie’s Bargain Outlet during the fourth quarter worth about $3,570,000. Advisor OS LLC bought a new stake in Ollie’s Bargain Outlet during the fourth quarter worth about $213,000. Finally, Hudson Edge Investment Partners Inc. lifted its position in Ollie’s Bargain Outlet by 4.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 5,323 shares of the company’s stock worth $584,000 after purchasing an additional 250 shares during the period.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Loop Capital increased their target price on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Piper Sandler raised their price objective on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Jefferies Financial Group downgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $125.00 to $111.00 in a research report on Tuesday, February 4th. JPMorgan Chase & Co. increased their target price on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Citigroup upgraded Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and raised their price objective for the company from $64.00 to $133.00 in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.07.

Ollie’s Bargain Outlet Stock Performance

NASDAQ OLLI opened at $99.14 on Friday. The business’s 50 day moving average price is $107.72 and its 200-day moving average price is $100.43. Ollie’s Bargain Outlet Holdings, Inc. has a fifty-two week low of $68.05 and a fifty-two week high of $120.03. The company has a market cap of $6.08 billion, a P/E ratio of 29.59, a P/E/G ratio of 2.21 and a beta of 0.81.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. As a group, equities analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Activity at Ollie’s Bargain Outlet

In other news, SVP James J. Comitale sold 5,325 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total value of $606,783.75. Following the sale, the senior vice president now owns 3,140 shares in the company, valued at $357,803. This represents a 62.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Swygert sold 2,400 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $102.54, for a total value of $246,096.00. Following the completion of the sale, the chief executive officer now owns 48,200 shares in the company, valued at $4,942,428. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,939 shares of company stock valued at $8,745,031 in the last ninety days. Corporate insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet Company Profile

Ollie’s Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company’s products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.