Lord Abbett & CO. LLC Has $55.54 Million Holdings in Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Lord Abbett & CO. LLC increased its stake in Ollie's Bargain Outlet Holdings by 53.4%, now owning 477,345 shares valued at approximately $55.54 million.
• Ollie's reported a 13.4% increase in revenue year-over-year for the quarter, reaching $576.77 million, along with earnings per share of $0.75, beating estimates.
• Several brokerages have upgraded their target prices for Ollie's stock, with KeyCorp setting a target of $145.00 and JPMorgan Chase increasing its target to $159.00.

Lord Abbett & CO. LLC grew its stake in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 53.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 477,345 shares of the company's stock after buying an additional 166,107 shares during the period. Lord Abbett & CO. LLC owned 0.78% of Ollie's Bargain Outlet worth $55,544,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. HM Payson & Co. purchased a new stake in shares of Ollie's Bargain Outlet during the 1st quarter valued at $30,000. City Holding Co. purchased a new stake in shares of Ollie's Bargain Outlet during the 1st quarter valued at $31,000. Putney Financial Group LLC purchased a new stake in shares of Ollie's Bargain Outlet during the 4th quarter valued at $33,000. Opal Wealth Advisors LLC purchased a new stake in shares of Ollie's Bargain Outlet during the 1st quarter valued at $38,000. Finally, GeoWealth Management LLC acquired a new position in shares of Ollie's Bargain Outlet during the 4th quarter valued at $38,000.

Insider Buying and Selling

In related news, CEO Der Valk Eric Van sold 728 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $112.85, for a total transaction of $82,154.80. Following the completion of the sale, the chief executive officer directly owned 7,761 shares of the company's stock, valued at $875,828.85. This represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Trading Up 1.2%

OLLI stock traded up $1.62 during trading on Friday, reaching $133.52. The stock had a trading volume of 1,025,926 shares, compared to its average volume of 780,217. The firm has a fifty day moving average price of $129.75 and a 200 day moving average price of $116.02. The company has a market capitalization of $8.19 billion, a P/E ratio of 41.08, a PEG ratio of 2.99 and a beta of 0.40. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $86.29 and a 1-year high of $141.74.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share 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 company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $565.04 million. During the same quarter in the previous year, the firm earned $0.73 EPS. The company's revenue was up 13.4% on a year-over-year basis. Sell-side analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on OLLI shares. Loop Capital lowered 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. Truist Financial restated a "buy" rating and set a $146.00 target price (up previously from $128.00) on shares of Ollie's Bargain Outlet in a report on Wednesday. Royal Bank Of Canada restated an "outperform" rating and set a $133.00 target price on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Wall Street Zen upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $128.07.

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.