First National Advisers LLC Acquires Shares of 6,530 Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Key Points

• First National Advisers LLC purchased 6,530 shares of Ollie's Bargain Outlet for approximately $760,000, marking a new investment in the company.
• Ollie's reported a strong Q1 performance with earnings per share of $0.75, exceeding expectations and showing a 13.4% year-over-year revenue increase.
• Securities analysts have set an average target price of $126.79 for Ollie's stock, with most giving it a "buy" or "overweight" rating.

First National Advisers LLC acquired a new position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,530 shares of the company's stock, valued at approximately $760,000.

Several other hedge funds have also added to or reduced their stakes in OLLI. Next Century Growth Investors LLC increased its position in shares of Ollie's Bargain Outlet by 27.6% in the fourth quarter. Next Century Growth Investors LLC now owns 162,136 shares of the company's stock valued at $17,791,000 after acquiring an additional 35,075 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of Ollie's Bargain Outlet in the fourth quarter valued at about $438,000. Schonfeld Strategic Advisors LLC increased its position in shares of Ollie's Bargain Outlet by 85.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,800 shares of the company's stock valued at $636,000 after acquiring an additional 2,668 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Ollie's Bargain Outlet by 63.8% in the first quarter. Teacher Retirement System of Texas now owns 11,711 shares of the company's stock valued at $1,363,000 after acquiring an additional 4,563 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Ollie's Bargain Outlet by 130.5% in the fourth quarter. JPMorgan Chase & Co. now owns 436,366 shares of the company's stock valued at $47,882,000 after acquiring an additional 247,065 shares during the last quarter.

Ollie's Bargain Outlet Trading Down 0.3%

Shares of NASDAQ:OLLI traded down $0.41 during trading on Thursday, reaching $138.10. 263,135 shares of the stock were exchanged, compared to its average volume of 1,185,379. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $86.05 and a 12 month high of $140.25. The firm has a market cap of $8.47 billion, a PE ratio of 42.62, a PEG ratio of 3.10 and a beta of 0.41. The stock has a 50-day moving average price of $123.70 and a 200-day moving average price of $113.42.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.05. The company had revenue of $576.77 million during the quarter, compared to analysts' expectations of $565.04 million. Ollie's Bargain Outlet had a return on equity of 12.27% and a net margin of 8.59%. The business's revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 earnings per share. On average, sell-side analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 target price (down previously from $124.00) on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. KeyCorp set a $145.00 target price on Ollie's Bargain Outlet and gave the company an "overweight" rating in a research report on Thursday, June 26th. Wall Street Zen raised Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Truist Financial boosted their price target on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. boosted their price target on Ollie's Bargain Outlet from $137.00 to $159.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $126.79.

Insider Activity

In related news, CEO Der Valk Eric Van sold 728 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 7,761 shares in the company, valued at approximately $875,828.85. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.75% of the company's stock.

Ollie's Bargain Outlet Company 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.