Russell Investments Group Ltd. Grows Stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Russell Investments Group Ltd. raised its stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 52.2% during the fourth quarter, Holdings Channel reports. The fund owned 111,456 shares of the company’s stock after buying an additional 38,242 shares during the period. Russell Investments Group Ltd.’s holdings in Ollie’s Bargain Outlet were worth $8,458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OLLI. Operose Advisors LLC purchased a new position in Ollie’s Bargain Outlet in the third quarter valued at about $26,000. CWM LLC raised its position in shares of Ollie’s Bargain Outlet by 25.8% in the fourth quarter. CWM LLC now owns 1,741 shares of the company’s stock valued at $132,000 after purchasing an additional 357 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Ollie’s Bargain Outlet in the third quarter valued at approximately $143,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Ollie’s Bargain Outlet in the third quarter valued at approximately $181,000. Finally, Shelton Capital Management bought a new stake in shares of Ollie’s Bargain Outlet in the third quarter valued at approximately $205,000.

Insider Activity

In other news, CEO John W. Swygert sold 5,000 shares of Ollie’s Bargain Outlet stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $82.57, for a total transaction of $412,850.00. Following the sale, the chief executive officer now owns 48,200 shares of the company’s stock, valued at approximately $3,979,874. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO John W. Swygert sold 5,000 shares of Ollie’s Bargain Outlet stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $82.57, for a total transaction of $412,850.00. Following the sale, the chief executive officer now owns 48,200 shares of the company’s stock, valued at approximately $3,979,874. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Swygert sold 11,756 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.22, for a total transaction of $884,286.32. Following the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $3,625,604. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,171 shares of company stock valued at $2,084,338. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

OLLI has been the topic of several research reports. Truist Financial raised shares of Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $86.00 in a research report on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price target on shares of Ollie’s Bargain Outlet in a research report on Thursday, March 21st. Bank of America started coverage on shares of Ollie’s Bargain Outlet in a research report on Monday. They issued a “buy” rating and a $92.00 price target on the stock. Loop Capital raised shares of Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $90.00 in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Ollie’s Bargain Outlet from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, March 21st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.08.

Ollie’s Bargain Outlet Stock Up 2.4 %

Shares of Ollie’s Bargain Outlet stock opened at $78.68 on Tuesday. The firm has a market cap of $4.82 billion, a PE ratio of 26.95 and a beta of 0.76. Ollie’s Bargain Outlet Holdings, Inc. has a 12-month low of $52.93 and a 12-month high of $84.38. The company’s fifty day simple moving average is $75.03 and its two-hundred day simple moving average is $75.20.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.07. The business had revenue of $648.90 million for 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 company’s revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. As a group, sell-side analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.19 earnings per share for the current fiscal year.

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.