Wasatch Advisors LP Cuts Holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Wasatch Advisors LP lowered its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,923,595 shares of the company’s stock after selling 82,211 shares during the quarter. Ollie’s Bargain Outlet comprises approximately 2.1% of Wasatch Advisors LP’s investment portfolio, making the stock its 9th largest holding. Wasatch Advisors LP owned about 6.40% of Ollie’s Bargain Outlet worth $430,536,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OLLI. Vanguard Group Inc. boosted its position in shares of Ollie’s Bargain Outlet by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company’s stock valued at $638,843,000 after buying an additional 70,496 shares during the last quarter. Congress Asset Management Co. lifted its stake in Ollie’s Bargain Outlet by 181.6% during the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock valued at $210,307,000 after acquiring an additional 1,235,994 shares in the last quarter. Invesco Ltd. boosted its holdings in Ollie’s Bargain Outlet by 1.1% during the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company’s stock worth $180,558,000 after acquiring an additional 17,302 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Ollie’s Bargain Outlet by 12.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company’s stock worth $178,813,000 after acquiring an additional 186,313 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Ollie’s Bargain Outlet by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,082,660 shares of the company’s stock worth $118,837,000 after acquiring an additional 4,116 shares in the last quarter.

Analyst Ratings Changes

OLLI has been the topic of several analyst reports. Citigroup upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their price target for the stock from $64.00 to $133.00 in a report on Wednesday, December 18th. Morgan Stanley upped their target price on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Jefferies Financial Group lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and dropped their price target for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. Royal Bank of Canada upped their price objective on Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Finally, Piper Sandler lowered their target price on Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.08.

Ollie’s Bargain Outlet Stock Down 1.0 %

OLLI opened at $114.48 on Wednesday. The firm has a 50-day moving average price of $106.44 and a 200-day moving average price of $103.59. Ollie’s Bargain Outlet Holdings, Inc. has a twelve month low of $70.17 and a twelve month high of $120.03. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.21 and a beta of 0.75.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). The business had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $674.61 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 earnings per share. On average, sell-side analysts expect 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 Ollie’s Bargain Outlet news, Chairman John W. Swygert sold 6,526 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $107.87, for a total value of $703,959.62. Following the completion of the transaction, the chairman now directly owns 53,432 shares of the company’s stock, valued at $5,763,709.84. This trade represents a 10.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert F. Helm sold 312 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $107.17, for a total transaction of $33,437.04. Following the completion of the transaction, the chief financial officer now directly owns 3,273 shares in the company, valued at approximately $350,767.41. The trade was a 8.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,897 shares of company stock worth $4,227,970 in the last quarter. 0.87% of the stock is owned by company insiders.

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.