Kornitzer Capital Management Inc. KS Sells 7,835 Shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Kornitzer Capital Management Inc. KS lessened its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 12.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,300 shares of the company's stock after selling 7,835 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.09% of Ollie's Bargain Outlet worth $6,551,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of OLLI. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Ollie's Bargain Outlet by 173.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock worth $509,671,000 after acquiring an additional 2,948,393 shares during the last quarter. Norges Bank bought a new position in Ollie's Bargain Outlet during the 4th quarter worth approximately $80,741,000. Raymond James Financial Inc. bought a new position in Ollie's Bargain Outlet during the 4th quarter worth approximately $48,633,000. Envestnet Asset Management Inc. boosted its stake in Ollie's Bargain Outlet by 103.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 487,774 shares of the company's stock worth $53,523,000 after acquiring an additional 247,852 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Ollie's Bargain Outlet by 130.5% during the 4th quarter. JPMorgan Chase & Co. now owns 436,366 shares of the company's stock worth $47,882,000 after acquiring an additional 247,065 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Ollie's Bargain Outlet from $135.00 to $137.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Wall Street Zen raised shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Loop Capital downgraded shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 target price on the stock. in a report on Tuesday, June 24th. KeyCorp set a $145.00 target price on shares of Ollie's Bargain Outlet and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Truist Financial raised their target price on shares of Ollie's Bargain Outlet from $126.00 to $128.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $125.21.

Ollie's Bargain Outlet Trading Down 0.0%

Shares of NASDAQ OLLI traded down $0.00 during midday trading on Friday, reaching $131.89. The company's stock had a trading volume of 221,170 shares, compared to its average volume of 1,161,003. Ollie's Bargain Outlet Holdings, Inc. has a fifty-two week low of $86.05 and a fifty-two week high of $135.53. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 40.71, a PEG ratio of 2.87 and a beta of 0.41. The stock has a 50 day simple moving average of $120.52 and a 200-day simple moving average of $111.83.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share (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 analyst estimates of $565.04 million. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 earnings per share. As a group, equities analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Buying and Selling

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 728 shares of the stock in a transaction 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 completion of the sale, the chief executive officer 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.75% of the stock is currently owned by corporate insiders.

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.