GAMMA Investing LLC Increases Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

GAMMA Investing LLC grew its holdings in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 18,373.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,486 shares of the company's stock after purchasing an additional 162,601 shares during the quarter. GAMMA Investing LLC owned approximately 0.27% of Ollie's Bargain Outlet worth $19,023,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Corient Private Wealth LLC grew its stake in shares of Ollie's Bargain Outlet by 86.2% during the 4th 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 period. Next Century Growth Investors LLC boosted its stake in 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 worth $17,791,000 after purchasing an additional 35,075 shares during the period. Caxton Associates LP bought a new position in Ollie's Bargain Outlet in the 4th quarter worth about $438,000. Schonfeld Strategic Advisors LLC boosted its stake in Ollie's Bargain Outlet by 85.2% in 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 period. Finally, JPMorgan Chase & Co. boosted its stake in Ollie's Bargain Outlet by 130.5% in the 4th 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 during the period.

Wall Street Analyst Weigh In

Several brokerages have commented on OLLI. Royal Bank of Canada restated an "outperform" rating and issued a $133.00 target price on shares of Ollie's Bargain Outlet in a research note on Wednesday. Truist Financial raised their price target on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the company a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on Ollie's Bargain Outlet from $135.00 to $137.00 and gave the company an "overweight" rating in a report on Monday, May 19th. KeyCorp reaffirmed an "overweight" rating and issued a $135.00 price target on shares of Ollie's Bargain Outlet in a report on Wednesday. Finally, Wall Street Zen raised Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Ollie's Bargain Outlet has an average rating of "Moderate Buy" and a consensus price target of $124.50.

Ollie's Bargain Outlet Stock Up 0.5%

NASDAQ OLLI opened at $115.01 on Friday. Ollie's Bargain Outlet Holdings, Inc. has a twelve month low of $82.84 and a twelve month high of $122.15. The firm has a market capitalization of $7.06 billion, a PE ratio of 34.33, a P/E/G ratio of 2.21 and a beta of 0.45. The stock's 50 day moving average is $111.56 and its 200 day moving average is $107.96.

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 the consensus estimate of $0.70 by $0.05. Ollie's Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $565.04 million. During the same period in the previous year, the company posted $0.73 earnings per share. The firm's revenue was up 13.4% on a year-over-year basis. On average, research analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman John W. Swygert sold 6,526 shares of the business's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $107.87, for a total value of $703,959.62. Following the completion of the transaction, the chairman now owns 53,432 shares in the company, valued at $5,763,709.84. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert F. Helm sold 312 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $107.17, for a total value of $33,437.04. Following the completion of the transaction, the chief financial officer now owns 3,273 shares of the company's stock, valued at $350,767.41. This represents a 8.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,897 shares of company stock valued at $4,227,970. 0.75% of the stock is currently owned by corporate insiders.

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.

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