Informed Momentum Co LLC Has $3.97 Million Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Key Points

• Informed Momentum Co LLC has reduced its holdings in Ollie's Bargain Outlet by 24.6%, selling 11,122 shares and owning 34,155 shares after the sale.
• Ollie's reported a quarterly EPS of $0.75, surpassing expectations, with revenue reaching $576.77 million, a 13.4% increase year-over-year.
• Multiple analysts have recently updated their price targets for Ollie's stock, with recent ratings suggesting the stock price may reach upwards of $159.00.

Informed Momentum Co LLC lessened its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 24.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,155 shares of the company's stock after selling 11,122 shares during the quarter. Informed Momentum Co LLC owned approximately 0.06% of Ollie's Bargain Outlet worth $3,974,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. HM Payson & Co. bought a new position in shares of Ollie's Bargain Outlet in the 1st quarter valued at about $30,000. City Holding Co. bought a new position in shares of Ollie's Bargain Outlet in the 1st quarter valued at about $31,000. Putney Financial Group LLC bought a new position in shares of Ollie's Bargain Outlet in the 4th quarter valued at about $33,000. GeoWealth Management LLC bought a new position in shares of Ollie's Bargain Outlet in the 4th quarter valued at about $38,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Ollie's Bargain Outlet in the 1st quarter valued at about $38,000.

Ollie's Bargain Outlet Stock Performance

OLLI stock traded down $3.34 during mid-day trading on Thursday, hitting $131.90. 678,523 shares of the company were exchanged, compared to its average volume of 1,160,605. The firm has a market cap of $8.09 billion, a P/E ratio of 40.58, a P/E/G ratio of 2.99 and a beta of 0.40. The firm's 50 day simple moving average is $129.13 and its 200 day simple moving average is $115.71. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $86.29 and a 1-year high of $141.74.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. The firm had revenue of $576.77 million for the quarter, compared to the consensus estimate of $565.04 million. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The business's quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the company posted $0.73 EPS. On average, equities research analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Activity

In other news, CEO Der Valk Eric Van sold 728 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $112.85, for a total value of $82,154.80. Following the sale, the chief executive officer directly owned 7,761 shares in the company, valued at $875,828.85. This trade represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

OLLI has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Loop Capital downgraded shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price target on the stock. in a research report on Tuesday, June 24th. Truist Financial reiterated a "buy" rating and issued a $146.00 price target (up from $128.00) on shares of Ollie's Bargain Outlet in a research report on Wednesday. Wall Street Zen upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, 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 report on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.07.

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.