RiverPark Advisors LLC Takes Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

RiverPark Advisors LLC acquired a new stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the third quarter, HoldingsChannel.com reports. The firm acquired 3,062 shares of the company’s stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Mutual of America Capital Management LLC grew its position in shares of Ollie’s Bargain Outlet by 0.8% in the third quarter. Mutual of America Capital Management LLC now owns 114,687 shares of the company’s stock valued at $11,148,000 after purchasing an additional 888 shares during the period. Natixis Advisors LLC grew its position in Ollie’s Bargain Outlet by 16.1% during the third quarter. Natixis Advisors LLC now owns 28,432 shares of the company’s stock valued at $2,764,000 after acquiring an additional 3,946 shares during the period. Royce & Associates LP grew its position in Ollie’s Bargain Outlet by 161.6% during the third quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock valued at $7,349,000 after acquiring an additional 46,706 shares during the period. Zions Bancorporation N.A. grew its position in Ollie’s Bargain Outlet by 20.6% during the third quarter. Zions Bancorporation N.A. now owns 28,204 shares of the company’s stock valued at $2,741,000 after acquiring an additional 4,816 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Ollie’s Bargain Outlet by 8.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 39,673 shares of the company’s stock worth $3,856,000 after purchasing an additional 3,008 shares in the last quarter.

Ollie’s Bargain Outlet Trading Down 0.6 %

NASDAQ:OLLI opened at $91.93 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a 52 week low of $68.05 and a 52 week high of $104.98. The firm has a market capitalization of $5.64 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 2.29 and a beta of 0.84. The stock has a 50 day moving average of $95.31 and a 200-day moving average of $91.90.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Thursday, August 29th. The company reported $0.78 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.78. The firm had revenue of $578.38 million during 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 firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. As a group, analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OLLI shares. Gordon Haskett upgraded Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and boosted their price objective for the stock from $105.00 to $107.00 in a research note on Monday, August 26th. UBS Group boosted their price objective 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. StockNews.com cut Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price target 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, Piper Sandler reiterated an “overweight” rating and issued a $107.00 price target on shares of Ollie’s Bargain Outlet in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.92.

Insider Activity

In other news, President Der Valk Eric Van sold 7,479 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $100.32, for a total value of $750,293.28. Following the transaction, the president now directly owns 5,615 shares of the company’s stock, valued at approximately $563,296.80. This represents a 57.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert F. Helm sold 2,401 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total transaction of $227,326.68. Following the completion of the transaction, the chief financial officer now directly owns 2,021 shares in the company, valued at $191,348.28. This trade represents a 54.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,880 shares of company stock worth $2,462,470. Insiders own 0.87% of the company’s stock.

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.