Assenagon Asset Management S.A. Reduces Holdings in Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in Ollie's Bargain Outlet by 91.5%, selling 43,882 shares and leaving it with only 4,088 shares valued at approximately $539,000.
• Insider trading activity showed Chairman John W. Swygert sold 107,058 shares for over $14 million, reflecting a 68.95% decrease in his holdings.
• Analysts have mixed ratings for Ollie's Bargain Outlet, with eight analysts rating it as a Buy and an average price target of $144.15.

Assenagon Asset Management S.A. trimmed its position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 91.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,088 shares of the company's stock after selling 43,882 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Ollie's Bargain Outlet were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of OLLI. Two Sigma Advisers LP purchased a new position in Ollie's Bargain Outlet during the fourth quarter worth $1,492,000. Jefferies Financial Group Inc. boosted its stake in shares of Ollie's Bargain Outlet by 20.3% during the fourth quarter. Jefferies Financial Group Inc. now owns 3,628 shares of the company's stock valued at $398,000 after purchasing an additional 611 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Ollie's Bargain Outlet by 65.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,574 shares of the company's stock valued at $721,000 after purchasing an additional 2,608 shares during the period. 111 Capital purchased a new stake in shares of Ollie's Bargain Outlet during the fourth quarter valued at $280,000. Finally, GAMMA Investing LLC boosted its stake in shares of Ollie's Bargain Outlet by 18,373.0% during the first quarter. GAMMA Investing LLC now owns 163,486 shares of the company's stock valued at $19,023,000 after purchasing an additional 162,601 shares during the period.

Insider Activity at Ollie's Bargain Outlet

In related news, Chairman John W. Swygert sold 107,058 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $132.87, for a total value of $14,224,796.46. Following the completion of the transaction, the chairman directly owned 48,200 shares of the company's stock, valued at approximately $6,404,334. This represents a 68.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James J. Comitale sold 2,117 shares of the 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 directly owned 2,504 shares of the company's stock, valued at approximately $325,520. This represents a 45.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on OLLI shares. Morgan Stanley boosted their target price on shares of 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. JPMorgan Chase & Co. lifted their price objective on Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Bank of America lifted their price objective on Ollie's Bargain Outlet from $130.00 to $145.00 and gave the company a "buy" rating in a report on Friday, August 29th. Craig Hallum set a $156.00 price objective on Ollie's Bargain Outlet in a report on Friday, August 29th. Finally, Loop Capital downgraded 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. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $144.15.

Ollie's Bargain Outlet Stock Performance

Shares of Ollie's Bargain Outlet stock opened at $132.40 on Friday. The company has a market capitalization of $8.12 billion, a PE ratio of 38.38, a P/E/G ratio of 2.71 and a beta of 0.45. The company has a 50-day simple moving average of $133.84 and a two-hundred day simple moving average of $121.86. Ollie's Bargain Outlet Holdings, Inc. has a one year low of $86.88 and a one year high of $141.74.

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, beating the consensus estimate of $0.91 by $0.08. Ollie's Bargain Outlet had a net margin of 8.74% and a return on equity of 12.66%. The firm had revenue of $679.56 million for the quarter, compared to the consensus estimate of $658.03 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company's revenue for the quarter was up 17.5% compared to the same quarter last year. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. On average, equities analysts predict 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.

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