Harbor Capital Advisors Inc. Lowers Stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Harbor Capital Advisors Inc. reduced its position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 46.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 10,004 shares of the company's stock after selling 8,669 shares during the period. Harbor Capital Advisors Inc.'s holdings in Ollie's Bargain Outlet were worth $1,164,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased 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 last quarter. Bogart Wealth LLC bought a new stake in shares of Ollie's Bargain Outlet in the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB grew its stake in shares of 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 worth $26,000 after purchasing an additional 182 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Ollie's Bargain Outlet by 55.2% in the fourth quarter. Blue Trust Inc. now owns 284 shares of the company's stock worth $31,000 after purchasing an additional 101 shares during the last quarter. Finally, City Holding Co. bought a new stake in shares of Ollie's Bargain Outlet in the first quarter worth $31,000.

Insider Activity

In other Ollie's Bargain Outlet news, Chairman John W. Swygert sold 6,526 shares of the stock in a transaction that occurred 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 in the company, valued at $5,763,709.84. This represents a 10.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert F. Helm sold 2,139 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $115.74, for a total transaction of $247,567.86. Following the completion of the sale, the chief financial officer now owns 2,961 shares in the company, valued at $342,706.14. This represents a 41.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,897 shares of company stock valued at $4,227,970 in the last three months. Company insiders own 0.75% of the company's stock.

Ollie's Bargain Outlet Price Performance

Shares of NASDAQ:OLLI traded up $6.32 during midday trading on Monday, hitting $120.80. 1,127,846 shares of the company's stock were exchanged, compared to its average volume of 1,170,501. The stock has a 50 day moving average price of $112.19 and a 200-day moving average price of $109.09. The company has a market cap of $7.41 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 2.21 and a beta of 0.37. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $86.05 and a 12 month high of $122.15.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping 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 business 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 firm posted $0.73 EPS. The firm's quarterly revenue was up 13.4% compared to the same quarter last year. On average, analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on OLLI. Wall Street Zen raised shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. UBS Group boosted their target price on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Truist Financial boosted their target price 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. Morgan Stanley boosted 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. Finally, Piper Sandler reiterated an "overweight" rating and set a $123.00 price objective (down previously from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $124.50.

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.