Truist Financial Corp Buys 33,185 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Truist Financial Corp lifted its stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 195.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,187 shares of the company’s stock after purchasing an additional 33,185 shares during the quarter. Truist Financial Corp’s holdings in Ollie’s Bargain Outlet were worth $5,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CIBC Asset Management Inc bought a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter valued at $205,000. Sanctuary Advisors LLC raised its stake in shares of Ollie’s Bargain Outlet by 1.0% during the 4th quarter. Sanctuary Advisors LLC now owns 17,301 shares of the company’s stock valued at $1,953,000 after purchasing an additional 166 shares during the period. Principal Securities Inc. raised its stake in shares of Ollie’s Bargain Outlet by 123.1% during the 4th quarter. Principal Securities Inc. now owns 1,314 shares of the company’s stock valued at $144,000 after purchasing an additional 725 shares during the period. Legacy Capital Wealth Partners LLC increased its stake in Ollie’s Bargain Outlet by 3.4% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,834 shares of the company’s stock worth $311,000 after acquiring an additional 94 shares during the last quarter. Finally, Congress Asset Management Co. increased its stake in Ollie’s Bargain Outlet by 181.6% in the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock worth $210,307,000 after acquiring an additional 1,235,994 shares during the last quarter.

Insider Activity at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, Director Thomas Hendrickson sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $114.74, for a total transaction of $717,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John W. Swygert sold 4,032 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $102.51, for a total value of $413,320.32. Following the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $4,940,982. The trade was a 7.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,771 shares of company stock worth $9,650,832 in the last ninety days. 0.87% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OLLI. Piper Sandler upped their target price 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. StockNews.com lowered Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Craig Hallum upped their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company upped their target price on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Finally, Loop Capital upped their target price on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.07.

Ollie’s Bargain Outlet Price Performance

Shares of OLLI stock opened at $96.78 on Friday. The stock has a market capitalization of $5.93 billion, a PE ratio of 28.89, a P/E/G ratio of 2.21 and a beta of 0.81. Ollie’s Bargain Outlet Holdings, Inc. has a 1-year low of $68.05 and a 1-year high of $120.03. The business has a 50-day moving average of $109.04 and a 200 day moving average of $100.29.

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, beating the consensus estimate of $0.57 by $0.01. The company 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%. Ollie’s Bargain Outlet’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. Analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

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.