Ollie's Bargain Outlet Holdings, Inc. $OLLI Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its holdings in Ollie's Bargain Outlet by 10%, selling 162,219 shares and owning 1,467,353 shares, which amounts to approximately $170.7 million.
• Several institutional investors, including HM Payson & Co. and City Holding Co., bought new stakes in Ollie's Bargain Outlet during the 1st quarter, indicating a growing interest in the company.
• Ollie's Bargain Outlet reported a quarterly earnings per share (EPS) of $0.99, exceeding estimates, with revenue of $679.56 million, marking a 17.5% year-over-year increase.

Alliancebernstein L.P. cut its stake in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,467,353 shares of the company's stock after selling 162,219 shares during the period. Alliancebernstein L.P. owned approximately 2.39% of Ollie's Bargain Outlet worth $170,741,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HM Payson & Co. purchased a new stake in Ollie's Bargain Outlet during the 1st quarter valued at approximately $30,000. City Holding Co. purchased a new position in shares of Ollie's Bargain Outlet during the 1st quarter worth approximately $31,000. Putney Financial Group LLC purchased a new position in shares of Ollie's Bargain Outlet during the 4th quarter worth approximately $33,000. Opal Wealth Advisors LLC purchased a new position in shares of Ollie's Bargain Outlet during the 1st quarter worth approximately $38,000. Finally, Brooklyn Investment Group raised its stake in shares of Ollie's Bargain Outlet by 133.5% during the 1st quarter. Brooklyn Investment Group now owns 390 shares of the company's stock worth $45,000 after buying an additional 223 shares in the last quarter.

Insider Buying and Selling at Ollie's Bargain Outlet

In related 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 transaction, the chief executive officer owned 7,761 shares in the company, valued at approximately $875,828.85. This trade represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James J. Comitale sold 2,117 shares of Ollie's Bargain Outlet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $130.00, for a total value of $275,210.00. Following the completion of the transaction, the senior vice president owned 2,504 shares in the company, valued at $325,520. The trade was a 45.81% decrease in their position. The disclosure for this sale can be found here. 0.87% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

OLLI has been the subject of a number of analyst reports. Craig Hallum set a $156.00 target price on Ollie's Bargain Outlet in a research note on Friday, August 29th. Truist Financial increased their target price on Ollie's Bargain Outlet from $146.00 to $148.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. raised their price objective on Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Morgan Stanley raised their price objective on Ollie's Bargain Outlet from $118.00 to $145.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Finally, Wall Street Zen raised Ollie's Bargain Outlet from a "hold" rating to a "buy" rating in a research note on Saturday. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.46.

Ollie's Bargain Outlet Stock Down 0.3%

Shares of OLLI stock traded down $0.46 during mid-day trading on Friday, hitting $133.40. 792,830 shares of the company's stock were exchanged, compared to its average volume of 1,177,829. Ollie's Bargain Outlet Holdings, Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $141.74. The stock has a 50-day simple moving average of $132.62 and a two-hundred day simple moving average of $118.63. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 2.73 and a beta of 0.45.

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

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.