Primecap Management Co. CA Sells 57,900 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Primecap Management Co. CA lessened its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 10.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 483,100 shares of the company’s stock after selling 57,900 shares during the period. Primecap Management Co. CA’s holdings in Ollie’s Bargain Outlet were worth $46,957,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Capital Research Global Investors bought a new stake in shares of Ollie’s Bargain Outlet in the 1st quarter worth about $136,978,000. D. E. Shaw & Co. Inc. grew its position in Ollie’s Bargain Outlet by 953.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock worth $55,637,000 after acquiring an additional 512,928 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Ollie’s Bargain Outlet by 199.3% during the second quarter. Los Angeles Capital Management LLC now owns 560,054 shares of the company’s stock worth $54,981,000 after acquiring an additional 372,914 shares during the last quarter. Vanguard Group Inc. raised its position in Ollie’s Bargain Outlet by 6.2% during the first quarter. Vanguard Group Inc. now owns 5,882,908 shares of the company’s stock valued at $468,103,000 after purchasing an additional 343,903 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Ollie’s Bargain Outlet by 84.8% in the 3rd quarter. Victory Capital Management Inc. now owns 313,836 shares of the company’s stock valued at $30,505,000 after purchasing an additional 143,996 shares during the last quarter.

Ollie’s Bargain Outlet Stock Up 4.1 %

Shares of NASDAQ:OLLI opened at $91.17 on Friday. The business’s 50 day moving average is $95.01 and its 200 day moving average is $92.20. The stock has a market cap of $5.59 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $104.98.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OLLI. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and boosted their target price for the company from $105.00 to $107.00 in a research report on Monday, August 26th. UBS Group increased their target price on shares of Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Piper Sandler restated an “overweight” rating and issued a $107.00 target price on shares of Ollie’s Bargain Outlet in a report on Friday, October 4th. Royal Bank of Canada upped their price target on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Loop Capital reissued a “buy” rating and issued a $110.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $104.92.

Insider Buying and Selling at Ollie’s Bargain Outlet

In related news, President Der Valk Eric Van sold 7,479 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $100.32, for a total transaction of $750,293.28. Following the transaction, the president now directly owns 5,615 shares of the company’s stock, valued at $563,296.80. This trade represents a 57.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kevin Mclain sold 15,000 shares of the company’s stock in a transaction on 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 sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,880 shares of company stock valued at $2,462,470. Company 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.