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Envestnet Asset Management Inc. Cuts Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Ollie's Bargain Outlet logo with Consumer Staples background

Envestnet Asset Management Inc. lowered its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480,153 shares of the company's stock after selling 7,621 shares during the period. Envestnet Asset Management Inc. owned about 0.78% of Ollie's Bargain Outlet worth $55,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in OLLI. Corient Private Wealth LLC lifted its stake in Ollie's Bargain Outlet by 86.2% in the fourth quarter. Corient Private Wealth LLC now owns 8,438 shares of the company's stock worth $926,000 after acquiring an additional 3,906 shares during the last quarter. Next Century Growth Investors LLC raised its holdings in shares of Ollie's Bargain Outlet by 27.6% in the 4th quarter. Next Century Growth Investors LLC now owns 162,136 shares of the company's stock valued at $17,791,000 after purchasing an additional 35,075 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Ollie's Bargain Outlet during the 4th quarter worth $438,000. Schonfeld Strategic Advisors LLC lifted its position in shares of Ollie's Bargain Outlet by 85.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 5,800 shares of the company's stock worth $636,000 after purchasing an additional 2,668 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Ollie's Bargain Outlet by 130.5% during the fourth quarter. JPMorgan Chase & Co. now owns 436,366 shares of the company's stock worth $47,882,000 after purchasing an additional 247,065 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on OLLI shares. JPMorgan Chase & Co. lifted their price target on Ollie's Bargain Outlet from $135.00 to $137.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Wall Street Zen upgraded Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada reiterated 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. Truist Financial raised their price objective 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. Finally, Morgan Stanley upped their target price on shares of Ollie's Bargain Outlet from $108.00 to $118.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $125.21.

Get Our Latest Research Report on Ollie's Bargain Outlet

Insider Buying and Selling

In other news, CEO Der Valk Eric Van sold 728 shares of the business's stock in a transaction dated Friday, June 13th. The shares were 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 in the company, valued at $875,828.85. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.75% of the company's stock.

Ollie's Bargain Outlet Stock Performance

Shares of Ollie's Bargain Outlet stock opened at $127.01 on Friday. The company has a market capitalization of $7.79 billion, a P/E ratio of 39.08, a PEG ratio of 2.85 and a beta of 0.41. Ollie's Bargain Outlet Holdings, Inc. has a 1 year low of $86.05 and a 1 year high of $134.59. The company's fifty day moving average is $119.11 and its two-hundred day moving average is $111.53.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $576.77 million during the quarter, compared to the consensus estimate of $565.04 million. During the same period in the prior year, the business earned $0.73 EPS. The firm's revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Ollie's Bargain Outlet Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Ollie's Bargain Outlet (NASDAQ:OLLI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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