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

SG Capital Management LLC cut its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,465 shares of the company’s stock after selling 5,821 shares during the quarter. SG Capital Management LLC’s holdings in Ollie’s Bargain Outlet were worth $6,854,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Ollie’s Bargain Outlet by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company’s stock valued at $638,843,000 after purchasing an additional 70,496 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Ollie’s Bargain Outlet by 173.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock valued at $509,671,000 after purchasing an additional 2,948,393 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of 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 purchasing an additional 1,235,994 shares in the last quarter. Invesco Ltd. raised its stake in shares of Ollie’s Bargain Outlet by 1.1% in the fourth quarter. Invesco Ltd. now owns 1,645,472 shares of the company’s stock worth $180,558,000 after purchasing an additional 17,302 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Ollie’s Bargain Outlet by 12.9% during the fourth quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company’s stock valued at $178,813,000 after purchasing an additional 186,313 shares in the last quarter.

Wall Street Analyst Weigh In

OLLI has been the topic of several research analyst reports. Morgan Stanley upped their target price 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 lowered their price target on 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. UBS Group raised their price target on Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Royal Bank of Canada increased their target price on Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Finally, StockNews.com upgraded Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.08.

Insider Transactions at Ollie’s Bargain Outlet

In related news, Director Robert Fisch sold 6,250 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $108.08, for a total value of $675,500.00. Following the sale, the director now owns 22,159 shares in the company, valued at approximately $2,394,944.72. The trade was a 22.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Der Valk Eric Van sold 1,153 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $110.85, for a total transaction of $127,810.05. Following the transaction, the chief executive officer now owns 6,768 shares of the company’s stock, valued at $750,232.80. This trade represents a 14.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,897 shares of company stock valued at $4,227,970. 0.75% of the stock is currently owned by insiders.

Ollie’s Bargain Outlet Trading Up 0.3%

NASDAQ OLLI opened at $113.87 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a 12 month low of $72.19 and a 12 month high of $120.03. The stock’s 50 day moving average is $109.26 and its 200 day moving average is $105.87. The stock has a market cap of $6.99 billion, a PE ratio of 33.99, a P/E/G ratio of 2.21 and a beta of 0.45.

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

Ollie’s Bargain Outlet 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.