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

Kornitzer Capital Management Inc. KS cut its holdings in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,300 shares of the company's stock after selling 7,835 shares during the period. 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 quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Ollie's Bargain Outlet by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company's stock worth $638,843,000 after purchasing an additional 70,496 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Ollie's Bargain Outlet by 173.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock valued at $509,671,000 after buying an additional 2,948,393 shares during the period. Invesco Ltd. lifted its stake in Ollie's Bargain Outlet by 1.1% in the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company's stock worth $180,558,000 after acquiring an additional 17,302 shares in the last quarter. Alliancebernstein L.P. boosted its position in Ollie's Bargain Outlet by 12.9% during the 4th quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company's stock worth $178,813,000 after acquiring an additional 186,313 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Ollie's Bargain Outlet by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,242,332 shares of the company's stock valued at $136,325,000 after purchasing an additional 24,890 shares in the last quarter.

Insider Activity at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 728 shares of the company's stock in a transaction on Friday, June 13th. The stock was 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 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 at this hyperlink. 0.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on OLLI shares. Truist Financial upped their target price on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. KeyCorp set a $145.00 price objective on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a research note on Thursday, June 26th. Royal Bank Of Canada reissued an "outperform" rating and set a $133.00 target price on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price target (down previously from $124.00) on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Finally, Wall Street Zen raised Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $125.21.

Ollie's Bargain Outlet Stock Performance

Shares of NASDAQ:OLLI traded up $0.27 during trading on Friday, hitting $132.16. 875,085 shares of the stock were exchanged, compared to its average volume of 1,163,336. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 40.66, a price-to-earnings-growth ratio of 2.97 and a beta of 0.41. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $86.05 and a 1-year high of $134.59. The company's fifty day simple moving average is $121.04 and its 200-day simple moving average is $111.99.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $576.77 million during the quarter, compared to analysts' expectations of $565.04 million. During the same quarter in the prior year, the company posted $0.73 EPS. The business's revenue was up 13.4% on a year-over-year basis. On average, research analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal 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.