Grantham Mayo Van Otterloo & Co. LLC Cuts Holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Grantham Mayo Van Otterloo & Co. LLC decreased its position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 292,382 shares of the company’s stock after selling 61,899 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Ollie’s Bargain Outlet were worth $32,083,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC raised its holdings 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 valued at $926,000 after buying an additional 3,906 shares in the last quarter. Oak Thistle LLC bought a new position in Ollie’s Bargain Outlet during the fourth quarter valued at approximately $1,345,000. JPMorgan Chase & Co. raised its stake in shares of Ollie’s Bargain Outlet by 79.6% during the third quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company’s stock worth $18,400,000 after acquiring an additional 83,882 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Ollie’s Bargain Outlet by 36.5% in the 4th quarter. Van ECK Associates Corp now owns 46,659 shares of the company’s stock worth $5,120,000 after acquiring an additional 12,476 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Ollie’s Bargain Outlet in the 4th quarter valued at $2,049,000.

Wall Street Analysts Forecast Growth

OLLI has been the subject of several recent research reports. Craig Hallum boosted their price target on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. StockNews.com lowered Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Bank of America increased their target price on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Citigroup raised Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and lifted their price target for the stock from $64.00 to $133.00 in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada increased their price objective on Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.08.

Insider Activity at Ollie’s Bargain Outlet

In other news, CFO Robert F. Helm sold 2,145 shares of Ollie’s Bargain Outlet 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 completion of the transaction, the chief financial officer now directly owns 3,888 shares in the company, valued at approximately $421,848. This trade represents a 35.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James J. Comitale sold 5,485 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $113.53, for a total value of $622,712.05. Following the completion of the sale, the senior vice president now owns 4,621 shares in the company, valued at $524,622.13. The trade was a 54.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,254 shares of company stock valued at $3,812,800 in the last three months. Company insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet Stock Performance

Shares of NASDAQ:OLLI opened at $113.29 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $70.17 and a 52-week high of $120.03. The firm has a market capitalization of $6.94 billion, a P/E ratio of 33.82, a P/E/G ratio of 2.21 and a beta of 0.83. The stock has a 50 day moving average price of $106.42 and a 200-day moving average price of $102.93.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data 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). Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm had revenue of $667.10 million during the quarter, compared to the consensus estimate of $674.61 million. During the same quarter last year, the company posted $1.23 EPS. Ollie’s Bargain Outlet’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

About Ollie’s Bargain Outlet

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.