Alberta Investment Management Corp Boosts Stock Position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Key Points

• Alberta Investment Management Corp increased its stake in Ollie's Bargain Outlet Holdings by 17.4% in Q1, acquiring 6,670 shares to hold a total of 45,057 shares valued at approximately $5.24 million.
• Ollie's reported Q1 earnings of $0.75 per share, exceeding estimates by $0.05, and achieved revenue of $576.77 million, which is up 13.4% year-over-year.
• Analysts have set varied price targets for Ollie's stock, with JPMorgan Chase increasing their price target from $137 to $159, while Loop Capital downgraded it from a "buy" to a "hold" rating with a target of $130.

Alberta Investment Management Corp raised its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 17.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,057 shares of the company's stock after buying an additional 6,670 shares during the quarter. Alberta Investment Management Corp owned about 0.07% of Ollie's Bargain Outlet worth $5,243,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Ollie's Bargain Outlet by 489.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock worth $25,000 after acquiring an additional 191 shares during the period. HM Payson & Co. acquired a new stake in Ollie's Bargain Outlet during the first quarter worth about $30,000. City Holding Co. acquired a new stake in Ollie's Bargain Outlet during the first quarter worth about $31,000. Putney Financial Group LLC acquired a new stake in Ollie's Bargain Outlet during the fourth quarter worth about $33,000. Finally, GeoWealth Management LLC acquired a new stake in Ollie's Bargain Outlet during the fourth quarter worth about $38,000.

Insider Buying and Selling

In other Ollie's Bargain Outlet news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by corporate insiders.

Ollie's Bargain Outlet Price Performance

Ollie's Bargain Outlet stock traded up $2.09 during trading on Monday, reaching $140.13. 511,669 shares of the company were exchanged, compared to its average volume of 888,701. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $86.05 and a 52-week high of $140.27. The company has a market capitalization of $8.60 billion, a P/E ratio of 43.12, a PEG ratio of 3.10 and a beta of 0.40. The stock's 50 day simple moving average is $125.72 and its two-hundred day simple moving average is $114.52.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.05. Ollie's Bargain Outlet had a return on equity of 12.27% and a net margin of 8.59%. The firm had revenue of $576.77 million for the quarter, compared to the consensus estimate of $565.04 million. During the same quarter last year, the business posted $0.73 earnings per share. The firm's revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Analyst Ratings Changes

OLLI has been the topic of several analyst reports. KeyCorp set a $145.00 target price on Ollie's Bargain Outlet and gave the stock an "overweight" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. increased 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. Royal Bank Of Canada reiterated an "outperform" rating and set a $133.00 price target on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Loop Capital downgraded Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price target on the stock. in a research report on Tuesday, June 24th. Finally, Piper Sandler reiterated an "overweight" rating and set a $123.00 price target (down previously from $124.00) on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Ollie's Bargain Outlet presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.79.

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.