Bryce Point Capital LLC Makes New $747,000 Investment in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Key Points

• Bryce Point Capital LLC acquired a new stake in Ollie's Bargain Outlet, purchasing 6,636 shares valued at approximately $747,000 in the first quarter of the year.
• Ollie's financial performance for the last quarter showed a revenue increase of 13.4% year-over-year, with earnings per share reported at $0.75, exceeding analysts' estimates.
• Several institutional investors, including Vanguard Group and Kayne Anderson Rudnick, have significantly increased their stakes in Ollie's Bargain Outlet during the fourth quarter, indicating strong institutional interest.

Bryce Point Capital LLC acquired a new stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 6,636 shares of the company's stock, valued at approximately $747,000.

A number of other institutional investors have also made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Ollie's Bargain Outlet by 489.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock valued at $25,000 after acquiring an additional 191 shares during the period. HM Payson & Co. acquired a new position in Ollie's Bargain Outlet in the first quarter valued at about $30,000. City Holding Co. acquired a new position in Ollie's Bargain Outlet in the first quarter valued at about $31,000. Brown Brothers Harriman & Co. acquired a new position in Ollie's Bargain Outlet in the fourth quarter valued at about $33,000. Finally, Putney Financial Group LLC acquired a new position in Ollie's Bargain Outlet in the fourth quarter valued at about $33,000.

Ollie's Bargain Outlet Price Performance

NASDAQ OLLI traded down $0.41 during trading on Thursday, reaching $138.10. 263,135 shares of the company's stock were exchanged, compared to its average volume of 1,185,379. The business has a 50 day moving average price of $123.70 and a 200-day moving average price of $113.42. The stock has a market capitalization of $8.47 billion, a P/E ratio of 42.62, a PEG ratio of 3.10 and a beta of 0.41. Ollie's Bargain Outlet Holdings, Inc. has a fifty-two week low of $86.05 and a fifty-two week high of $140.25.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate 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 company had revenue of $576.77 million for the quarter, compared to the consensus estimate of $565.04 million. During the same quarter in the prior year, the business earned $0.73 earnings per share. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on OLLI shares. Loop Capital cut Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 target price for the company. in a research note on Tuesday, June 24th. Royal Bank Of Canada reissued an "outperform" rating and issued a $133.00 price target on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Wall Street Zen upgraded Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their target price 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. Finally, Truist Financial lifted their price objective on shares of Ollie's Bargain Outlet from $126.00 to $128.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.79.

Insider Activity at Ollie's Bargain Outlet

In other news, CEO Der Valk Eric Van sold 728 shares of the company'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 transaction, the chief executive officer owned 7,761 shares of the company's stock, valued at approximately $875,828.85. This represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.75% of the company's stock.

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.