Janney Montgomery Scott LLC Trims Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

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

Several other hedge funds also recently added to or reduced their stakes in OLLI. Corient Private Wealth LLC raised its position in Ollie's Bargain Outlet by 86.2% during the fourth quarter. Corient Private Wealth LLC now owns 8,438 shares of the company's stock valued at $926,000 after acquiring an additional 3,906 shares in the last quarter. Next Century Growth Investors LLC increased its holdings in shares of Ollie's Bargain Outlet by 27.6% during the 4th quarter. Next Century Growth Investors LLC now owns 162,136 shares of the company's stock valued at $17,791,000 after purchasing an additional 35,075 shares in the last quarter. Caxton Associates LP acquired a new position in shares of Ollie's Bargain Outlet in the 4th quarter valued at $438,000. Schonfeld Strategic Advisors LLC boosted its holdings in Ollie's Bargain Outlet by 85.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,800 shares of the company's stock worth $636,000 after buying an additional 2,668 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Ollie's Bargain Outlet by 130.5% in the fourth quarter. JPMorgan Chase & Co. now owns 436,366 shares of the company's stock valued at $47,882,000 after buying an additional 247,065 shares in the last quarter.

Insider Buying and Selling

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 1,153 shares of the business's 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 transaction, the chief executive officer now directly owns 6,768 shares in the company, valued at $750,232.80. The trade was a 14.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert F. Helm sold 2,139 shares of the firm's 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 sale, the chief financial officer now owns 2,961 shares of the company's stock, valued at $342,706.14. This represents a 41.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,704 shares of company stock worth $2,697,933. 0.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OLLI. Morgan Stanley increased their target price on shares of Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Truist Financial boosted their price objective on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. UBS Group increased their target price on Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Piper Sandler reissued an "overweight" rating and issued a $123.00 price target (down previously from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Finally, KeyCorp restated an "overweight" rating and set a $135.00 price objective on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Ollie's Bargain Outlet has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Ollie's Bargain Outlet Stock Performance

Shares of NASDAQ:OLLI traded up $1.92 during midday trading on Wednesday, hitting $131.47. The company's stock had a trading volume of 1,260,221 shares, compared to its average volume of 1,168,933. The company has a market cap of $8.06 billion, a P/E ratio of 39.26, a price-to-earnings-growth ratio of 2.92 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 $132.22. The business's 50 day simple moving average is $113.38 and its 200 day simple moving average is $109.98.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. The company had revenue of $576.77 million during 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. On average, sell-side analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Ollie's Bargain Outlet 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.