Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Stock Position Cut by Oak Ridge Investments LLC

Oak Ridge Investments LLC reduced its stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,306 shares of the company’s stock after selling 1,119 shares during the period. Oak Ridge Investments LLC’s holdings in Ollie’s Bargain Outlet were worth $5,740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC boosted its position in shares of Ollie’s Bargain Outlet by 37.9% during the 3rd quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock valued at $63,000 after purchasing an additional 179 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Ollie’s Bargain Outlet during the fourth quarter valued at approximately $79,000. Northwest & Ethical Investments L.P. bought a new stake in Ollie’s Bargain Outlet during the third quarter worth approximately $117,000. LRI Investments LLC grew its position in Ollie’s Bargain Outlet by 2,356.1% in the third quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock worth $130,000 after buying an additional 1,343 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ollie’s Bargain Outlet in the third quarter valued at $151,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OLLI. Truist Financial lifted their target price on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. StockNews.com downgraded Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Wednesday. Piper Sandler raised their target price on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Bank of America boosted their target price on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised their target price on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.62.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $106.86 on Friday. The company has a market capitalization of $6.55 billion, a P/E ratio of 31.90, a P/E/G ratio of 2.63 and a beta of 0.82. The stock’s 50 day moving average price is $104.39 and its 200 day moving average price is $98.66. Ollie’s Bargain Outlet Holdings, Inc. has a 52 week low of $68.05 and a 52 week high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $517.43 million for the quarter, compared to the consensus estimate of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. Ollie’s Bargain Outlet’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. As a group, sell-side analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John W. Swygert sold 54,318 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $109.44, for a total value of $5,944,561.92. Following the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $5,275,008. This trade represents a 52.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP James J. Comitale sold 5,325 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total transaction of $606,783.75. Following the sale, the senior vice president now directly owns 3,140 shares of the company’s stock, valued at approximately $357,803. This represents a 62.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,771 shares of company stock valued at $9,650,832 over the last quarter. Insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.