Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Shares Sold by LPL Financial LLC

Key Points

• LPL Financial LLC decreased its stock holdings in Ollie's Bargain Outlet by 11.3%, reducing its position to 94,919 shares valued at approximately $10.75 million.
• Ollie's Bargain Outlet's stock has seen a 3.0% decline and has a current market value of $135.10, alongside a PE ratio of 41.57.
• The company reported a 0.75 EPS for the recent quarter, surpassing analysts' projections and achieving a 13.4% increase in year-over-year revenue.

LPL Financial LLC cut its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 11.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,919 shares of the company's stock after selling 12,061 shares during the period. LPL Financial LLC owned approximately 0.15% of Ollie's Bargain Outlet worth $10,751,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of OLLI. Inspire Advisors LLC acquired a new stake in Ollie's Bargain Outlet in the 1st quarter valued at about $772,000. Avantax Advisory Services Inc. boosted its stake in Ollie's Bargain Outlet by 1.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 13,854 shares of the company's stock worth $1,612,000 after acquiring an additional 208 shares during the last quarter. KLP Kapitalforvaltning AS lifted its stake in Ollie's Bargain Outlet by 3.4% in the first quarter. KLP Kapitalforvaltning AS now owns 15,400 shares of the company's stock valued at $1,792,000 after buying an additional 500 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Ollie's Bargain Outlet in the first quarter valued at approximately $3,115,000. Finally, GW&K Investment Management LLC lifted its stake in Ollie's Bargain Outlet by 2.2% in the first quarter. GW&K Investment Management LLC now owns 136,866 shares of the company's stock valued at $15,926,000 after buying an additional 2,991 shares in the last quarter.

Insider Transactions at Ollie's Bargain Outlet

In related news, CEO Der Valk Eric Van sold 728 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $112.85, for a total transaction of $82,154.80. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.87% of the stock is currently owned by insiders.

Ollie's Bargain Outlet Trading Down 1.7%

Shares of NASDAQ:OLLI traded down $2.27 during trading on Tuesday, reaching $132.87. 559,386 shares of the company traded hands, compared to its average volume of 1,163,934. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 3.04 and a beta of 0.40. The business's fifty day moving average is $128.25 and its 200-day moving average is $115.45. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $86.05 and a 52-week high of $141.74.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its 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 business had revenue of $576.77 million for the quarter, compared to analysts' expectations of $565.04 million. Ollie's Bargain Outlet had a return on equity of 12.27% and a net margin of 8.59%. The business's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $0.73 earnings per share. 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.

Analysts Set New Price Targets

A number of analysts have recently commented 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 price objective on the stock. in a research report on Tuesday, June 24th. 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. Piper Sandler restated an "overweight" rating and set a $123.00 target price (down from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Six research 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.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $126.79.

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.