Granahan Investment Management LLC Takes $2.45 Million Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Granahan Investment Management LLC purchased a new position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 22,322 shares of the company’s stock, valued at approximately $2,449,000.

A number of other large investors have also added to or reduced their stakes in OLLI. Corient Private Wealth LLC increased its stake in shares of Ollie’s Bargain Outlet by 86.2% during the 4th quarter. Corient Private Wealth LLC now owns 8,438 shares of the company’s stock worth $926,000 after purchasing an additional 3,906 shares during the last quarter. Next Century Growth Investors LLC raised its stake in shares of Ollie’s Bargain Outlet by 27.6% in the fourth quarter. Next Century Growth Investors LLC now owns 162,136 shares of the company’s stock valued at $17,791,000 after buying an additional 35,075 shares during the period. Caxton Associates LP purchased a new position in shares of Ollie’s Bargain Outlet during the 4th quarter valued at $438,000. Oak Thistle LLC bought a new position in shares of Ollie’s Bargain Outlet during the 4th quarter worth $1,345,000. Finally, JPMorgan Chase & Co. increased its holdings in Ollie’s Bargain Outlet by 130.5% in the 4th quarter. JPMorgan Chase & Co. now owns 436,366 shares of the company’s stock worth $47,882,000 after acquiring an additional 247,065 shares during the last quarter.

Insider Buying and Selling

In other news, Chairman John W. Swygert sold 3,331 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $114.60, for a total value of $381,732.60. Following the completion of the sale, the chairman now directly owns 48,200 shares in the company, valued at $5,523,720. The trade was a 6.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert F. Helm sold 2,145 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $108.50, for a total transaction of $232,732.50. Following the transaction, the chief financial officer now owns 3,888 shares in the company, valued at approximately $421,848. This trade represents a 35.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,897 shares of company stock worth $4,227,970 in the last quarter. Corporate insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet Stock Performance

Shares of NASDAQ:OLLI opened at $106.17 on Friday. The firm has a market capitalization of $6.52 billion, a P/E ratio of 31.69, a P/E/G ratio of 2.21 and a beta of 0.45. The stock has a 50 day moving average price of $108.40 and a 200-day moving average price of $105.33. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $72.19 and a 52-week high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its earnings results on Wednesday, March 19th. The company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The business had revenue of $667.10 million for the quarter, compared to the consensus estimate of $674.61 million. During the same quarter last year, the firm posted $1.23 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on OLLI shares. Morgan Stanley lifted their price objective on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Piper Sandler decreased their price target on shares of Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Royal Bank of Canada lifted their price target on Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. StockNews.com cut shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Finally, UBS Group lifted their price objective on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.08.

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.