Envestnet Portfolio Solutions Inc. Lowers Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Envestnet Portfolio Solutions Inc. decreased its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 30.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,742 shares of the company's stock after selling 4,359 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Ollie's Bargain Outlet were worth $1,134,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Corient Private Wealth LLC raised its holdings 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 purchasing an additional 3,906 shares in the last quarter. Next Century Growth Investors LLC raised its holdings in Ollie's Bargain Outlet by 27.6% in the fourth quarter. Next Century Growth Investors LLC now owns 162,136 shares of the company's stock worth $17,791,000 after purchasing an additional 35,075 shares in the last quarter. Caxton Associates LP bought a new position in Ollie's Bargain Outlet in the fourth quarter worth $438,000. Schonfeld Strategic Advisors LLC raised its holdings in Ollie's Bargain Outlet by 85.2% in the fourth 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Ollie's Bargain Outlet by 130.5% in 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.

Insider Buying and Selling at Ollie's Bargain Outlet

In other news, CFO Robert F. Helm sold 2,139 shares of Ollie's Bargain Outlet stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $115.74, for a total transaction of $247,567.86. Following the transaction, the chief financial officer now directly owns 2,961 shares of the company's stock, valued at $342,706.14. The trade was a 41.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin Mclain sold 4,799 shares of Ollie's Bargain Outlet stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $115.56, for a total value of $554,572.44. Following the transaction, the senior vice president now directly owns 12,336 shares in the company, valued at approximately $1,425,548.16. The trade was a 28.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,472 shares of company stock worth $2,109,280 in the last three months. 0.75% of the stock is currently owned by company insiders.

Ollie's Bargain Outlet Price Performance

NASDAQ OLLI traded down $0.64 during trading hours on Friday, hitting $132.80. The company's stock had a trading volume of 1,357,513 shares, compared to its average volume of 1,172,346. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $86.05 and a 12 month high of $134.59. The company's 50 day simple moving average is $114.66 and its two-hundred day simple moving average is $110.50. The company has a market cap of $8.15 billion, a P/E ratio of 40.86, a price-to-earnings-growth ratio of 2.99 and a beta of 0.37.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $565.04 million. Ollie's Bargain Outlet had a return on equity of 12.27% and a net margin of 8.59%. The business's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 EPS. As a group, research analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OLLI. KeyCorp set a $145.00 price target on Ollie's Bargain Outlet and gave the company an "overweight" rating in a report on Thursday. Royal Bank Of Canada restated an "outperform" rating and set a $133.00 price target on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Morgan Stanley raised their price target on 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. UBS Group raised their price target on Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Finally, Loop Capital downgraded Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price target for the company. in a report on Tuesday. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $125.21.

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.