Janney Montgomery Scott LLC Has $6.70 Million Stake in Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Janney Montgomery Scott LLC has reduced its stake in Ollie's Bargain Outlet by 6.9%, now holding 50,869 shares worth approximately $6.70 million.
• Several hedge funds, including Wellington Management Group LLP and Bank of New York Mellon Corp, have increased their positions in Ollie's, indicating strong institutional interest.
• Market analysts have raised price targets for Ollie's stock, with price targets ranging from $130 to $159, reflecting an overall positive outlook with a consensus rating of "Moderate Buy."

Janney Montgomery Scott LLC lowered its position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 6.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 50,869 shares of the company's stock after selling 3,785 shares during the period. Janney Montgomery Scott LLC owned 0.08% of Ollie's Bargain Outlet worth $6,704,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneva Capital Management LLC lifted its position in shares of Ollie's Bargain Outlet by 1.1% in the 1st quarter. Geneva Capital Management LLC now owns 1,049,459 shares of the company's stock worth $122,115,000 after purchasing an additional 10,913 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Ollie's Bargain Outlet by 25.5% in the 1st quarter. Bank of New York Mellon Corp now owns 881,996 shares of the company's stock worth $102,629,000 after purchasing an additional 179,452 shares during the period. Wellington Management Group LLP lifted its position in shares of Ollie's Bargain Outlet by 268.0% in the 1st quarter. Wellington Management Group LLP now owns 844,799 shares of the company's stock worth $98,301,000 after purchasing an additional 615,257 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Ollie's Bargain Outlet by 130.3% in the 1st quarter. Ameriprise Financial Inc. now owns 828,743 shares of the company's stock worth $96,428,000 after purchasing an additional 468,944 shares during the period. Finally, Stephens Investment Management Group LLC lifted its position in shares of Ollie's Bargain Outlet by 13.3% in the 1st quarter. Stephens Investment Management Group LLC now owns 809,282 shares of the company's stock worth $94,168,000 after purchasing an additional 95,204 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OLLI shares. Royal Bank Of Canada boosted their price target on shares of Ollie's Bargain Outlet from $144.00 to $149.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Wall Street Zen lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. KeyCorp lifted their price objective on shares of Ollie's Bargain Outlet from $145.00 to $154.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. Finally, Loop Capital lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price objective for the company. in a research note on Tuesday, June 24th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Ollie's Bargain Outlet has a consensus rating of "Moderate Buy" and an average price target of $144.15.

Insider Buying and Selling

In related news, SVP James J. Comitale sold 2,117 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $130.00, for a total value of $275,210.00. Following the transaction, the senior vice president directly owned 2,504 shares of the company's stock, valued at approximately $325,520. The trade was a 45.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Der Valk Eric Van sold 4,000 shares of the business's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $132.27, for a total transaction of $529,080.00. Following the completion of the transaction, the chief executive officer directly owned 7,761 shares in the company, valued at $1,026,547.47. This trade represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,175 shares of company stock valued at $15,029,086. 0.87% of the stock is owned by insiders.

Ollie's Bargain Outlet Stock Performance

Shares of NASDAQ:OLLI opened at $131.42 on Monday. The company's 50-day moving average is $133.46 and its 200 day moving average is $122.92. The company has a market capitalization of $8.06 billion, a P/E ratio of 38.09, a price-to-earnings-growth ratio of 2.69 and a beta of 0.42. Ollie's Bargain Outlet Holdings, Inc. has a fifty-two week low of $86.88 and a fifty-two week high of $141.74.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.08. The company had revenue of $679.56 million for the quarter, compared to the consensus estimate of $658.03 million. Ollie's Bargain Outlet had a net margin of 8.74% and a return on equity of 12.66%. The firm's quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. As a group, research analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

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.

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