Los Angeles Capital Management LLC Reduces Stock Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Los Angeles Capital Management LLC lessened its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 23.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 163,480 shares of the company’s stock after selling 51,123 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ollie’s Bargain Outlet were worth $17,939,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of OLLI. Congress Asset Management Co. increased its holdings in Ollie’s Bargain Outlet by 181.6% in the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock valued at $210,307,000 after buying an additional 1,235,994 shares during the last quarter. Stephens Investment Management Group LLC purchased a new position in shares of Ollie’s Bargain Outlet during the fourth quarter worth about $78,356,000. Holocene Advisors LP grew its holdings in shares of Ollie’s Bargain Outlet by 10,159.3% during the third quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock worth $45,821,000 after purchasing an additional 466,818 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Ollie’s Bargain Outlet by 155.8% during the third quarter. Wellington Management Group LLP now owns 483,044 shares of the company’s stock worth $46,952,000 after purchasing an additional 294,217 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Ollie’s Bargain Outlet during the third quarter worth about $16,590,000.

Ollie’s Bargain Outlet Stock Performance

OLLI stock opened at $99.00 on Wednesday. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $68.05 and a one year high of $120.03. The company has a 50 day moving average price of $108.36 and a two-hundred day moving average price of $100.44. The stock has a market capitalization of $6.07 billion, a P/E ratio of 29.55, a PEG ratio of 2.21 and a beta of 0.81.

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, beating the consensus estimate of $0.57 by $0.01. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company had revenue of $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. During the same period in the previous year, the company earned $0.51 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Truist Financial lifted their price target on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Loop Capital raised their price objective on shares of 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $130.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.07.

Insider Activity

In related news, CEO John W. Swygert sold 2,400 shares of Ollie’s Bargain Outlet stock in a transaction on Friday, December 6th. The shares were sold at an average price of $102.54, for a total transaction of $246,096.00. Following the transaction, the chief executive officer now owns 48,200 shares in the company, valued at approximately $4,942,428. The trade was a 4.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James J. Comitale sold 5,325 shares of Ollie’s Bargain Outlet stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $113.95, for a total transaction of $606,783.75. Following the transaction, the senior vice president now owns 3,140 shares in the company, valued at $357,803. The trade was a 62.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,939 shares of company stock valued at $8,745,031 in the last ninety days. Company insiders own 0.87% of the company’s stock.

About Ollie’s Bargain Outlet

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.