Bank of New York Mellon Corp Acquires 179,452 Shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Bank of New York Mellon Corp increased its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 25.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 881,996 shares of the company's stock after buying an additional 179,452 shares during the quarter. Bank of New York Mellon Corp owned 1.44% of Ollie's Bargain Outlet worth $102,629,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in Ollie's Bargain Outlet by 0.8% during the fourth quarter. Arizona State Retirement System now owns 17,771 shares of the company's stock valued at $1,950,000 after purchasing an additional 146 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Ollie's Bargain Outlet during the 4th quarter valued at $48,633,000. Edgestream Partners L.P. bought a new position in shares of Ollie's Bargain Outlet during the 4th quarter worth $1,067,000. Tortoise Investment Management LLC purchased a new stake in Ollie's Bargain Outlet in the 4th quarter worth about $45,000. Finally, HighTower Advisors LLC boosted its position in Ollie's Bargain Outlet by 37.4% during the fourth quarter. HighTower Advisors LLC now owns 16,406 shares of the company's stock worth $1,800,000 after purchasing an additional 4,466 shares during the period.

Insider Activity

In related news, CEO Der Valk Eric Van sold 728 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $112.85, for a total transaction of $82,154.80. Following the transaction, the chief executive officer directly owned 7,761 shares of the company's stock, valued at approximately $875,828.85. This trade represents a 8.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.75% of the company's stock.

Ollie's Bargain Outlet Price Performance

OLLI stock traded down $0.96 during midday trading on Thursday, reaching $126.68. The company had a trading volume of 906,901 shares, compared to its average volume of 1,164,463. Ollie's Bargain Outlet Holdings, Inc. has a 1 year low of $86.05 and a 1 year high of $134.59. The company has a market capitalization of $7.77 billion, a P/E ratio of 38.98, a P/E/G ratio of 2.86 and a beta of 0.41. The firm has a 50-day moving average price of $118.38 and a 200-day moving average price of $111.41.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted 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 the consensus estimate of $565.04 million. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The firm's revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. On average, equities analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Loop Capital cut shares of 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 note on Tuesday, June 24th. UBS Group upped their price target on Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. KeyCorp set a $145.00 price objective on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a research report on Thursday, June 26th. Wall Street Zen raised shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Truist Financial upped their target price on shares of Ollie's Bargain Outlet from $126.00 to $128.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Ollie's Bargain Outlet presently has an average rating of "Moderate Buy" and an average price target of $125.21.

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.