Wasatch Advisors LP Sells 369,459 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Wasatch Advisors LP lowered its position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 8.4% in the third quarter, Holdings Channel reports. The institutional investor owned 4,005,806 shares of the company’s stock after selling 369,459 shares during the period. Ollie’s Bargain Outlet makes up about 1.9% of Wasatch Advisors LP’s portfolio, making the stock its 10th largest position. Wasatch Advisors LP owned approximately 0.07% of Ollie’s Bargain Outlet worth $389,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of OLLI. International Assets Investment Management LLC acquired a new stake in Ollie’s Bargain Outlet during the second quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in shares of Ollie’s Bargain Outlet in the second quarter worth $31,000. Crewe Advisors LLC acquired a new position in Ollie’s Bargain Outlet in the second quarter valued at about $36,000. Versant Capital Management Inc bought a new stake in Ollie’s Bargain Outlet during the second quarter worth about $38,000. Finally, GAMMA Investing LLC grew its stake in Ollie’s Bargain Outlet by 686.7% during the second quarter. GAMMA Investing LLC now owns 472 shares of the company’s stock worth $46,000 after buying an additional 412 shares in the last quarter.

Ollie’s Bargain Outlet Price Performance

Ollie’s Bargain Outlet stock opened at $98.95 on Friday. The business has a 50 day moving average of $94.98 and a 200-day moving average of $93.09. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $68.05 and a 1 year high of $104.98. The company has a market capitalization of $6.07 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.51 and a beta of 0.84.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The firm had revenue of $578.38 million during the quarter, compared to the consensus estimate of $561.60 million. During the same quarter last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on OLLI shares. Bank of America boosted their target price on shares of Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Royal Bank of Canada boosted their price objective on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Piper Sandler reiterated an “overweight” rating and issued a $107.00 price target on shares of Ollie’s Bargain Outlet in a research note on Friday, October 4th. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $107.00 in a report on Monday, August 26th. Finally, StockNews.com cut Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.92.

Insider Buying and Selling

In other Ollie’s Bargain Outlet news, CFO Robert F. Helm sold 2,401 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $94.68, for a total transaction of $227,326.68. Following the completion of the sale, the chief financial officer now owns 2,021 shares of the company’s stock, valued at approximately $191,348.28. This represents a 54.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin Mclain sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the transaction, the senior vice president now owns 10,610 shares of the company’s stock, valued at approximately $1,050,283.90. The trade was a 58.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,912 shares of company stock valued at $2,875,790 in the last three months. Insiders own 0.87% of the company’s stock.

About Ollie’s Bargain Outlet

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.