Edgestream Partners L.P. Acquires New Shares in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Edgestream Partners L.P. bought a new position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,725 shares of the company’s stock, valued at approximately $1,067,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Congress Asset Management Co. increased its holdings 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 buying an additional 1,235,994 shares in the last quarter. State Street Corp boosted its holdings in shares of Ollie’s Bargain Outlet by 2.1% during the 3rd quarter. State Street Corp now owns 1,871,047 shares of the company’s stock valued at $181,866,000 after acquiring an additional 38,203 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Ollie’s Bargain Outlet by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock worth $104,860,000 after acquiring an additional 9,492 shares during the period. Geneva Capital Management LLC raised its holdings in shares of Ollie’s Bargain Outlet by 1.3% during the third quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company’s stock valued at $102,106,000 after purchasing an additional 13,369 shares during the last quarter. Finally, Fred Alger Management LLC lifted its position in Ollie’s Bargain Outlet by 12.1% during the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock valued at $75,052,000 after purchasing an additional 83,063 shares during the period.

Insider Buying and Selling

In other news, Director Thomas Hendrickson sold 6,250 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $114.74, for a total value of $717,125.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Kraus sold 10,646 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $115.58, for a total value of $1,230,464.68. Following the sale, the senior vice president now owns 1,905 shares of the company’s stock, valued at $220,179.90. This represents a 84.82 % decrease in their position. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by insiders.

Ollie’s Bargain Outlet Trading Up 2.3 %

Ollie’s Bargain Outlet stock opened at $101.08 on Wednesday. Ollie’s Bargain Outlet Holdings, Inc. has a 12-month low of $68.05 and a 12-month high of $120.03. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.21 and a beta of 0.83. The firm has a 50 day moving average of $105.75 and a 200 day moving average of $101.00.

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 analysts’ consensus estimates 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 firm had revenue of $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. During the same period in the prior year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Analyst Upgrades and Downgrades

OLLI has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price objective on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Craig Hallum increased their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Loop Capital boosted their price target on 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, Truist Financial upped 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $118.29.

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.