Alberta Investment Management Corp Acquires 6,670 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Alberta Investment Management Corp lifted its holdings in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 17.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,057 shares of the company’s stock after buying an additional 6,670 shares during the quarter. Alberta Investment Management Corp owned about 0.07% of Ollie’s Bargain Outlet worth $5,243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Ollie’s Bargain Outlet by 489.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $25,000 after acquiring an additional 191 shares in the last quarter. HM Payson & Co. purchased a new position in shares of Ollie’s Bargain Outlet during the 1st quarter valued at $30,000. City Holding Co. bought a new position in shares of Ollie’s Bargain Outlet in the first quarter worth $31,000. Putney Financial Group LLC bought a new stake in Ollie’s Bargain Outlet during the fourth quarter valued at $33,000. Finally, Opal Wealth Advisors LLC purchased a new position in Ollie’s Bargain Outlet during the first quarter worth about $38,000.

Ollie’s Bargain Outlet Stock Up 1.0%

Shares of OLLI stock opened at $138.04 on Friday. The stock has a fifty day moving average of $125.13 and a 200 day moving average of $114.10. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 42.47, a PEG ratio of 3.07 and a beta of 0.40. Ollie’s Bargain Outlet Holdings, Inc. has a 52 week low of $86.05 and a 52 week high of $140.24.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $565.04 million. Ollie’s Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share. Equities research analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Insider Transactions at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CEO Der Valk Eric Van sold 728 shares of Ollie’s Bargain Outlet stock in a transaction on Friday, June 13th. The stock was sold at an average price of $112.85, for a total value of $82,154.80. Following the completion of the sale, the chief executive officer owned 7,761 shares of the company’s stock, valued at approximately $875,828.85. This trade represents a 8.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on OLLI shares. Loop Capital cut Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a report on Tuesday, June 24th. Wall Street Zen raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $133.00 target price on shares of Ollie’s Bargain Outlet in a research report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price target on shares of Ollie’s Bargain Outlet from $137.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Finally, Piper Sandler restated an “overweight” rating and set a $123.00 price objective (down previously from $124.00) on shares of Ollie’s Bargain Outlet in a research report on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $126.79.

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.