Massachusetts Financial Services Co. MA Reduces Stock Position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 315,476 shares of the company's stock after selling 29,432 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.52% of Ollie's Bargain Outlet worth $36,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of OLLI. HighTower Advisors LLC increased its stake in Ollie's Bargain Outlet by 37.4% during the fourth quarter. HighTower Advisors LLC now owns 16,406 shares of the company's stock worth $1,800,000 after purchasing an additional 4,466 shares during the period. Swiss National Bank grew its holdings in Ollie's Bargain Outlet by 0.9% in the 4th quarter. Swiss National Bank now owns 120,600 shares of the company's stock valued at $13,233,000 after buying an additional 1,100 shares during the period. Natixis Advisors LLC lifted its stake in shares of Ollie's Bargain Outlet by 151.8% in the 4th quarter. Natixis Advisors LLC now owns 71,591 shares of the company's stock valued at $7,856,000 after purchasing an additional 43,159 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Ollie's Bargain Outlet by 166.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 14,101 shares of the company's stock worth $1,547,000 after acquiring an additional 8,804 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Ollie's Bargain Outlet by 86.2% during the 4th 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.

Insider Activity

In other news, CEO Der Valk Eric Van sold 728 shares of the company's stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $133.00 price objective on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Wall Street Zen raised Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Loop Capital cut Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price objective for the company. in a research report on Tuesday, June 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 target price (down previously from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Ollie's Bargain Outlet from $137.00 to $159.00 and gave the stock an "overweight" rating in a research report on Monday. 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $126.79.

Ollie's Bargain Outlet Stock Up 2.1%

Shares of NASDAQ:OLLI traded up $2.73 during trading on Monday, reaching $134.89. The stock had a trading volume of 861,337 shares, compared to its average volume of 1,164,184. Ollie's Bargain Outlet Holdings, Inc. has a 52 week low of $86.05 and a 52 week high of $137.63. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 40.05, a P/E/G ratio of 2.97 and a beta of 0.41. The stock has a fifty day simple moving average of $121.04 and a two-hundred day simple moving average of $112.03.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.05. The business had revenue of $576.77 million for the quarter, compared to the consensus estimate of $565.04 million. Ollie's Bargain Outlet had a return on equity of 12.27% and a net margin of 8.59%. The firm's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 earnings per share. On average, analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current 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.