Mitsubishi UFJ Asset Management UK Ltd. Has $989,000 Position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. reduced its stake in Ollie's Bargain Outlet by 19.0%, now holding 8,500 shares valued at approximately $989,000.
• Ollie's reported a net margin of 8.59% and a revenue increase of 13.4% year-over-year for the last quarter, surpassing estimates with earnings of $0.75 per share.
• Several research firms have adjusted their ratings, with JPMorgan Chase & Co. raising their price target to $159.00 and maintaining an "overweight" rating on the stock.

Mitsubishi UFJ Asset Management UK Ltd. lowered its stake in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 19.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,500 shares of the company's stock after selling 2,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Ollie's Bargain Outlet were worth $989,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in OLLI. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of 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 last quarter. Freestone Grove Partners LP acquired a new position in shares of Ollie's Bargain Outlet during the fourth quarter valued at about $24,452,000. Royal Bank of Canada raised its position in Ollie's Bargain Outlet by 48.5% in the fourth quarter. Royal Bank of Canada now owns 649,382 shares of the company's stock worth $71,257,000 after purchasing an additional 212,055 shares in the last quarter. Nuveen LLC acquired a new position in Ollie's Bargain Outlet in the first quarter worth about $24,452,000. Finally, Tidal Investments LLC acquired a new position in Ollie's Bargain Outlet in the fourth quarter worth about $21,733,000.

Ollie's Bargain Outlet Stock Up 1.8%

Shares of NASDAQ:OLLI opened at $135.24 on Thursday. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $86.05 and a 12 month high of $141.74. The company's fifty day simple moving average is $129.13 and its 200 day simple moving average is $115.71. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 41.61, a PEG ratio of 2.99 and a beta of 0.40.

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, beating 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 revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. Research analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Transactions at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 728 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $875,828.85. The trade was a 8.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OLLI. Loop Capital lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price target for the company. in a research report on Tuesday, June 24th. Piper Sandler reaffirmed an "overweight" rating and set a $123.00 price objective (down from $124.00) on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. JPMorgan Chase & Co. upped their price objective on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. KeyCorp set a $145.00 price objective on shares of Ollie's Bargain Outlet and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, 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. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently 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.

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