Oppenheimer Asset Management Inc. Boosts Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Oppenheimer Asset Management Inc. increased its position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 8.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 39,673 shares of the company’s stock after purchasing an additional 3,008 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ollie’s Bargain Outlet were worth $3,856,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OLLI. International Assets Investment Management LLC purchased a new stake in Ollie’s Bargain Outlet in the second quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in Ollie’s Bargain Outlet in the second quarter worth $31,000. Crewe Advisors LLC purchased a new stake in Ollie’s Bargain Outlet in the second quarter worth $36,000. Versant Capital Management Inc purchased a new stake in Ollie’s Bargain Outlet in the second quarter worth $38,000. Finally, GAMMA Investing LLC grew its stake in Ollie’s Bargain Outlet by 686.7% in the second quarter. GAMMA Investing LLC now owns 472 shares of the company’s stock worth $46,000 after purchasing an additional 412 shares during the period.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ:OLLI opened at $91.93 on Friday. The company has a market cap of $5.64 billion, a P/E ratio of 28.03, a PEG ratio of 2.29 and a beta of 0.84. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $68.05 and a 1 year high of $104.98. The stock’s fifty day moving average price is $95.31 and its 200-day moving average price is $91.77.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OLLI. UBS Group upped their price target on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and increased their target price for the stock from $105.00 to $107.00 in a research note on Monday, August 26th. Piper Sandler reissued an “overweight” rating and issued a $107.00 target price on shares of Ollie’s Bargain Outlet in a research note on Friday, October 4th. JPMorgan Chase & Co. cut their target price on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, Loop Capital reissued a “buy” rating and issued a $110.00 target price on shares of Ollie’s Bargain Outlet in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.92.

Insider Buying and Selling at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, SVP Kevin Mclain sold 15,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $98.99, for a total value 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. This represents a 58.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Der Valk Eric Van sold 7,479 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $100.32, for a total value of $750,293.28. Following the completion of the sale, the president now owns 5,615 shares of the company’s stock, valued at approximately $563,296.80. The trade was a 57.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,880 shares of company stock valued at $2,462,470. 0.87% of the stock is owned by company insiders.

Ollie’s Bargain Outlet Company Profile

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.