Azzad Asset Management Inc. ADV Invests $3.52 Million in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Azzad Asset Management Inc. ADV acquired a new stake in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 30,278 shares of the company's stock, valued at approximately $3,523,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB boosted its holdings in Ollie's Bargain Outlet by 337.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company's stock worth $26,000 after purchasing an additional 182 shares during the period. Stephens Inc. AR bought a new stake in Ollie's Bargain Outlet during the fourth quarter worth approximately $439,000. Van ECK Associates Corp grew its holdings in Ollie's Bargain Outlet by 36.5% during the fourth 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 period. Bogart Wealth LLC bought a new stake in shares of Ollie's Bargain Outlet in the 4th quarter worth approximately $26,000. Finally, Blue Trust Inc. lifted its position in shares of Ollie's Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company's stock valued at $31,000 after acquiring an additional 101 shares during the last quarter.

Insiders Place Their Bets

In related news, Chairman John W. Swygert sold 3,331 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $114.60, for a total value of $381,732.60. Following the completion of the transaction, the chairman now directly owns 48,200 shares in the company, valued at approximately $5,523,720. The trade was a 6.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert F. Helm sold 312 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $107.17, for a total value of $33,437.04. Following the transaction, the chief financial officer now directly owns 3,273 shares of the company's stock, valued at approximately $350,767.41. This trade represents a 8.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,897 shares of company stock worth $4,227,970. Insiders own 0.75% of the company's stock.

Ollie's Bargain Outlet Price Performance

Shares of NASDAQ:OLLI traded up $0.27 during midday trading on Friday, reaching $114.48. The company's stock had a trading volume of 932,167 shares, compared to its average volume of 1,181,256. Ollie's Bargain Outlet Holdings, Inc. has a fifty-two week low of $84.93 and a fifty-two week high of $122.15. The company has a market capitalization of $7.02 billion, a P/E ratio of 34.17, a P/E/G ratio of 2.21 and a beta of 0.37. The business's fifty day simple moving average is $111.84 and its 200-day simple moving average is $108.82.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. The business had revenue of $576.77 million for the quarter, compared to analysts' expectations of $565.04 million. Ollie's Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 earnings per share. On average, analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OLLI. Royal Bank of Canada restated an "outperform" rating and issued a $133.00 target price on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Morgan Stanley boosted their price objective on shares of Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Truist Financial raised their target price on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. upped their price objective on shares of Ollie's Bargain Outlet from $135.00 to $137.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, Piper Sandler restated an "overweight" rating and issued a $123.00 target price (down from $124.00) on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $124.50.

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.