Contravisory Investment Management Inc. Decreases Stock Position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Contravisory Investment Management Inc. cut its stake in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 67.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,294 shares of the company's stock after selling 2,677 shares during the quarter. Contravisory Investment Management Inc.'s holdings in Ollie's Bargain Outlet were worth $151,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake 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 buying an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in Ollie's Bargain Outlet by 337.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company's stock valued at $26,000 after buying an additional 182 shares during the period. Bogart Wealth LLC bought a new position in shares of Ollie's Bargain Outlet during the 4th quarter worth approximately $26,000. Blue Trust Inc. grew its position in shares of Ollie's Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company's stock worth $31,000 after buying an additional 101 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Ollie's Bargain Outlet during the 4th quarter valued at $33,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OLLI. Royal Bank of Canada restated an "outperform" rating and issued a $133.00 price target on shares of Ollie's Bargain Outlet in a report on Wednesday. KeyCorp reaffirmed an "overweight" rating and issued a $135.00 target price on shares of Ollie's Bargain Outlet in a research report on Wednesday. Piper Sandler reiterated an "overweight" rating and issued a $123.00 price target (down previously from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday. Truist Financial boosted their price objective on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the company a "buy" rating in a report on Wednesday. Finally, UBS Group upped their target price on Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $124.50.

Ollie's Bargain Outlet Stock Up 3.8%

NASDAQ:OLLI traded up $4.36 during trading hours on Friday, hitting $119.37. 1,070,665 shares of the company traded hands, compared to its average volume of 1,179,111. The company has a market cap of $7.33 billion, a PE ratio of 35.63, a PEG ratio of 2.21 and a beta of 0.45. The firm's 50-day simple moving average is $111.56 and its 200-day simple moving average is $107.96. Ollie's Bargain Outlet Holdings, Inc. has a one year low of $82.84 and a one year high of $122.15.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $565.04 million. During the same period last year, the firm earned $0.73 earnings per share. The firm's revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Transactions at Ollie's Bargain Outlet

In related news, CFO Robert F. Helm sold 312 shares of Ollie's Bargain Outlet stock in a transaction on Monday, April 7th. The stock was sold at an average price of $107.17, for a total transaction of $33,437.04. Following the sale, the chief financial officer now directly owns 3,273 shares in the company, valued at approximately $350,767.41. This trade represents a 8.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman John W. Swygert sold 6,526 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $107.87, for a total value of $703,959.62. Following the sale, the chairman now directly owns 53,432 shares of the company's stock, valued at approximately $5,763,709.84. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,897 shares of company stock worth $4,227,970 in the last 90 days. Insiders own 0.75% of the company's stock.

Ollie's Bargain Outlet Company 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.