Inspire Advisors LLC Buys Shares of 6,634 Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Key Points

• Inspire Advisors LLC has invested approximately $772,000 in Ollie's Bargain Outlet Holdings, Inc., acquiring 6,634 shares in the company during the first quarter.
• Ollie's Bargain Outlet announced a 13.4% increase in quarterly revenue compared to last year, reporting $576.77 million and earnings per share of $0.75.
• Analysts set a range of new price targets for the stock, with JPMorgan Chase & Co. raising their target to $159.00, while the consensus rating remains a "Moderate Buy" with an average target price of $126.79.

Inspire Advisors LLC acquired a new position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,634 shares of the company's stock, valued at approximately $772,000.

Several other large investors also recently made changes to their positions in OLLI. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Ollie's Bargain Outlet by 489.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock valued at $25,000 after purchasing an additional 191 shares in the last quarter. HM Payson & Co. acquired a new stake in Ollie's Bargain Outlet during the 1st quarter valued at $30,000. City Holding Co. acquired a new stake in Ollie's Bargain Outlet during the 1st quarter valued at $31,000. Brown Brothers Harriman & Co. acquired a new stake in Ollie's Bargain Outlet during the 4th quarter valued at $33,000. Finally, Putney Financial Group LLC acquired a new stake in Ollie's Bargain Outlet during the 4th quarter valued at $33,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on OLLI shares. KeyCorp set a $145.00 price target on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a report on Thursday, June 26th. Loop Capital downgraded shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price objective on the stock. in a research note on Tuesday, June 24th. Piper Sandler reiterated an "overweight" rating and set a $123.00 price objective (down from $124.00) on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. JPMorgan Chase & Co. increased their price objective on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $133.00 price objective on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $126.79.

Ollie's Bargain Outlet Trading Up 0.2%

NASDAQ:OLLI traded up $0.30 during mid-day trading on Thursday, hitting $138.81. The stock had a trading volume of 243,417 shares, compared to its average volume of 1,185,349. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 42.72, a P/E/G ratio of 3.10 and a beta of 0.41. The company has a 50 day simple moving average of $123.70 and a 200-day simple moving average of $113.42. Ollie's Bargain Outlet Holdings, Inc. has a 52 week low of $86.05 and a 52 week high of $140.25.

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 for the quarter, beating 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%. Ollie's Bargain Outlet's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.73 EPS. As a group, equities 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 related news, CEO Der Valk Eric Van sold 728 shares of Ollie's Bargain Outlet stock in a transaction dated 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

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.