Janney Montgomery Scott LLC Sells 8,025 Shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Janney Montgomery Scott LLC trimmed its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 12.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 54,654 shares of the company's stock after selling 8,025 shares during the quarter. Janney Montgomery Scott LLC owned 0.09% of Ollie's Bargain Outlet worth $6,360,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new stake in shares of Ollie's Bargain Outlet in the 1st quarter worth approximately $38,000. Azzad Asset Management Inc. ADV bought a new stake in shares of Ollie's Bargain Outlet in the 1st quarter worth approximately $3,523,000. Pullen Investment Management LLC lifted its holdings in shares of Ollie's Bargain Outlet by 46.3% in the 1st quarter. Pullen Investment Management LLC now owns 9,094 shares of the company's stock worth $1,058,000 after acquiring an additional 2,877 shares during the last quarter. Greenwood Capital Associates LLC lifted its holdings in shares of Ollie's Bargain Outlet by 50.8% in the 1st quarter. Greenwood Capital Associates LLC now owns 5,238 shares of the company's stock worth $609,000 after acquiring an additional 1,764 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Ollie's Bargain Outlet in the 1st quarter worth approximately $1,282,000.

Ollie's Bargain Outlet Trading Up 1.2%

NASDAQ OLLI traded up $1.50 during trading on Friday, hitting $121.82. The company had a trading volume of 1,114,653 shares, compared to its average volume of 1,161,550. Ollie's Bargain Outlet Holdings, Inc. has a one year low of $86.05 and a one year high of $122.16. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 37.48, a price-to-earnings-growth ratio of 2.74 and a beta of 0.37. The company's fifty day moving average is $112.81 and its 200-day moving average is $109.65.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The business had revenue of $576.77 million during the quarter, compared to analyst estimates of $565.04 million. During the same period in the prior year, the business earned $0.73 EPS. The company's revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on OLLI shares. Truist Financial upped their price target 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. JPMorgan Chase & Co. upped their price target on shares of Ollie's Bargain Outlet from $135.00 to $137.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Piper Sandler reiterated an "overweight" rating and set a $123.00 price target (down from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Morgan Stanley upped their price target 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, KeyCorp reiterated an "overweight" rating and set a $135.00 price target on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Insider Buying and Selling

In related news, CEO Der Valk Eric Van sold 1,153 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $110.85, for a total value of $127,810.05. Following the completion of the transaction, the chief executive officer now directly owns 6,768 shares in the company, valued at $750,232.80. This trade represents a 14.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert F. Helm sold 2,145 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $108.50, for a total transaction of $232,732.50. Following the completion of the transaction, the chief financial officer now owns 3,888 shares of the company's stock, valued at approximately $421,848. The trade was a 35.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,625 shares of company stock worth $4,310,125 in the last three months. 0.87% of the stock is 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.