Adage Capital Partners GP L.L.C. Invests $5.82 Million in Ollie's Bargain Outlet Holdings, Inc. $OLLI

Adage Capital Partners GP L.L.C. bought a new position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,000 shares of the company's stock, valued at approximately $5,818,000. Adage Capital Partners GP L.L.C. owned about 0.08% of Ollie's Bargain Outlet at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. HM Payson & Co. bought a new position in shares of Ollie's Bargain Outlet in the first quarter worth about $30,000. City Holding Co. bought a new position in shares of Ollie's Bargain Outlet in the first quarter worth about $31,000. Putney Financial Group LLC bought a new position in shares of Ollie's Bargain Outlet in the fourth quarter worth about $33,000. Opal Wealth Advisors LLC bought a new position in Ollie's Bargain Outlet in the 1st quarter valued at approximately $38,000. Finally, Brooklyn Investment Group raised its holdings in Ollie's Bargain Outlet by 133.5% in the 1st quarter. Brooklyn Investment Group now owns 390 shares of the company's stock valued at $45,000 after buying an additional 223 shares during the last quarter.

Ollie's Bargain Outlet Trading Down 3.3%

NASDAQ:OLLI traded down $4.37 on Tuesday, reaching $127.99. 1,265,431 shares of the stock traded hands, compared to its average volume of 1,169,748. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 37.10, a price-to-earnings-growth ratio of 2.70 and a beta of 0.45. The company's 50 day moving average is $132.58 and its 200-day moving average is $118.94. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $86.88 and a 1-year high of $141.74.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.91 by $0.08. The company had revenue of $679.56 million during the quarter, compared to the consensus estimate of $658.03 million. Ollie's Bargain Outlet had a net margin of 8.74% and a return on equity of 12.66%. The company's quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. On average, equities research analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on OLLI shares. Bank of America raised their price objective on shares of Ollie's Bargain Outlet from $130.00 to $145.00 and gave the company a "buy" rating in a report on Friday, August 29th. Jefferies Financial Group raised their price objective on shares of Ollie's Bargain Outlet from $111.00 to $135.00 and gave the company a "hold" rating in a report on Friday, August 29th. Morgan Stanley raised their price objective on shares of Ollie's Bargain Outlet from $118.00 to $145.00 and gave the company an "equal weight" rating in a report on Friday, August 29th. Loop Capital lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price objective for the company. in a report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $143.46.

Insiders Place Their Bets

In other news, SVP James J. Comitale sold 2,117 shares of Ollie's Bargain Outlet stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $130.00, for a total transaction of $275,210.00. Following the sale, the senior vice president directly owned 2,504 shares in the company, valued at $325,520. The trade was a 45.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Der Valk Eric Van sold 728 shares of Ollie's Bargain Outlet stock in a transaction on Friday, June 13th. The stock was sold at an average price of $112.85, for a total value of $82,154.80. Following the sale, the chief executive officer owned 7,761 shares in the company, valued at $875,828.85. The trade was a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.87% of the stock is owned by insiders.

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.