State of Alaska Department of Revenue Reduces Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

State of Alaska Department of Revenue trimmed its stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,665 shares of the company’s stock after selling 680 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ollie’s Bargain Outlet were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in OLLI. Vanguard Group Inc. raised its stake in Ollie’s Bargain Outlet by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,495,026 shares of the company’s stock valued at $424,106,000 after purchasing an additional 54,941 shares during the last quarter. State Street Corp grew its holdings in shares of Ollie’s Bargain Outlet by 3.3% during the first quarter. State Street Corp now owns 1,734,913 shares of the company’s stock worth $100,521,000 after buying an additional 55,791 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ollie’s Bargain Outlet by 26.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,585,472 shares of the company’s stock valued at $91,859,000 after buying an additional 336,268 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Ollie’s Bargain Outlet by 141.5% in the third quarter. Wellington Management Group LLP now owns 1,075,882 shares of the company’s stock valued at $83,037,000 after buying an additional 630,298 shares during the last quarter. Finally, Royal London Asset Management Ltd. purchased a new position in shares of Ollie’s Bargain Outlet during the first quarter valued at approximately $41,301,000.

Ollie’s Bargain Outlet Stock Performance

OLLI opened at $71.52 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $52.93 and a 1 year high of $84.38. The firm has a 50 day moving average price of $76.34 and a 200 day moving average price of $75.24. The company has a market cap of $4.39 billion, a PE ratio of 24.49 and a beta of 0.76.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Wednesday, March 20th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.07. The company had revenue of $648.90 million during the quarter, compared to analyst estimates of $649.39 million. Ollie’s Bargain Outlet had a net margin of 8.63% and a return on equity of 12.55%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. On average, sell-side analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.18 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on OLLI. JPMorgan Chase & Co. lowered their target price on shares of Ollie’s Bargain Outlet from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, March 21st. Loop Capital raised Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $90.00 in a research report on Friday, April 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 target price on shares of Ollie’s Bargain Outlet in a research report on Thursday, March 21st. Craig Hallum lifted their price target on Ollie’s Bargain Outlet from $98.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Truist Financial upped their price objective on shares of Ollie’s Bargain Outlet from $78.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.92.

Insider Buying and Selling at Ollie’s Bargain Outlet

In other news, VP Larry Kraus sold 2,928 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $79.00, for a total value of $231,312.00. Following the completion of the sale, the vice president now owns 1,905 shares of the company’s stock, valued at $150,495. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO John W. Swygert sold 11,756 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.22, for a total transaction of $884,286.32. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at approximately $3,625,604. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Larry Kraus sold 2,928 shares of Ollie’s Bargain Outlet stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $79.00, for a total transaction of $231,312.00. Following the sale, the vice president now directly owns 1,905 shares in the company, valued at approximately $150,495. The disclosure for this sale can be found here. Insiders have sold 22,171 shares of company stock valued at $1,722,888 over the last three months. 0.86% 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.