Bayesian Capital Management LP Makes New Investment in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Bayesian Capital Management LP purchased a new position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,411 shares of the company's stock, valued at approximately $1,252,000.

Several other hedge funds have also recently bought and sold shares of OLLI. Vanguard Group Inc. lifted its position in shares of Ollie's Bargain Outlet by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company's stock worth $638,843,000 after buying an additional 70,496 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Ollie's Bargain Outlet by 173.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock valued at $509,671,000 after acquiring an additional 2,948,393 shares during the last quarter. Congress Asset Management Co. lifted its holdings in Ollie's Bargain Outlet by 181.6% during the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company's stock worth $210,307,000 after buying an additional 1,235,994 shares during the period. Invesco Ltd. lifted its stake in shares of Ollie's Bargain Outlet by 1.1% in the fourth quarter. Invesco Ltd. now owns 1,645,472 shares of the company's stock worth $180,558,000 after acquiring an additional 17,302 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Ollie's Bargain Outlet by 12.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company's stock valued at $178,813,000 after purchasing an additional 186,313 shares during the last quarter.

Ollie's Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $110.88 on Monday. The stock has a fifty day moving average of $107.69 and a 200 day moving average of $104.84. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $72.19 and a 52-week high of $120.03. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 33.10, a P/E/G ratio of 2.21 and a beta of 0.45.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). The company had revenue of $667.10 million during the quarter, compared to analysts' expectations of $674.61 million. Ollie's Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm's revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 earnings per share. Equities analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research note on Tuesday, February 4th. Jefferies Financial Group cut Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and cut their target price for the company from $125.00 to $111.00 in a research report on Tuesday, February 4th. Royal Bank of Canada upped their price objective on shares of Ollie's Bargain Outlet from $130.00 to $133.00 and gave the stock an "outperform" rating in a research report on Friday, March 7th. Piper Sandler lowered their target price on Ollie's Bargain Outlet from $126.00 to $124.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Finally, UBS Group upped their price objective on Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine 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 $123.08.

Insider Activity at Ollie's Bargain Outlet

In other news, Director Robert Fisch sold 6,250 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $108.08, for a total value of $675,500.00. Following the sale, the director now directly owns 22,159 shares in the company, valued at approximately $2,394,944.72. This trade represents a 22.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert F. Helm sold 2,139 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $115.74, for a total transaction of $247,567.86. Following the transaction, the chief financial officer now directly owns 2,961 shares in the company, valued at approximately $342,706.14. The trade was a 41.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,897 shares of company stock valued at $4,227,970. Insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Profile

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.

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