Assenagon Asset Management S.A. Invests $11.81 Million in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Assenagon Asset Management S.A. acquired a new stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) during the fourth quarter, HoldingsChannel reports. The firm acquired 107,605 shares of the company’s stock, valued at approximately $11,807,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OLLI. Royce & Associates LP boosted its stake in Ollie’s Bargain Outlet by 161.6% during the third quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock valued at $7,349,000 after buying an additional 46,706 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Ollie’s Bargain Outlet in the 4th quarter worth approximately $1,345,000. JPMorgan Chase & Co. lifted its stake in Ollie’s Bargain Outlet by 79.6% during the third quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company’s stock valued at $18,400,000 after purchasing an additional 83,882 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Ollie’s Bargain Outlet by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock worth $73,256,000 after buying an additional 5,438 shares in the last quarter. Finally, Fred Alger Management LLC grew its position in Ollie’s Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after buying an additional 83,063 shares during the last quarter.

Insider Activity

In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 5,325 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total transaction of $606,783.75. Following the transaction, the senior vice president now directly owns 3,140 shares in the company, valued at $357,803. This trade represents a 62.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Swygert sold 4,800 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $102.60, for a total value of $492,480.00. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $4,945,320. This represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,771 shares of company stock worth $9,650,832 in the last three months. 0.87% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on OLLI shares. Citigroup upgraded Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and increased their price objective for the company from $64.00 to $133.00 in a research report on Wednesday, December 18th. Wells Fargo & Company upped their target price on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Piper Sandler lifted their price target on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Loop Capital upped their price objective on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of Ollie’s Bargain Outlet in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $118.62.

Ollie’s Bargain Outlet Stock Performance

Ollie’s Bargain Outlet stock opened at $106.86 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a twelve month low of $68.05 and a twelve month high of $120.03. The firm has a market cap of $6.55 billion, a PE ratio of 31.90, a P/E/G ratio of 2.63 and a beta of 0.82. The firm’s 50 day moving average price is $104.39 and its two-hundred day moving average price is $98.66.

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

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.