M&T Bank Corp Decreases Position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

M&T Bank Corp lessened its holdings in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,499 shares of the company's stock after selling 2,559 shares during the period. M&T Bank Corp's holdings in Ollie's Bargain Outlet were worth $3,200,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OLLI. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Ollie's Bargain Outlet by 489.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock worth $25,000 after purchasing an additional 191 shares during the last quarter. HM Payson & Co. bought a new position in shares of Ollie's Bargain Outlet during the 1st quarter valued at $30,000. City Holding Co. bought a new position in Ollie's Bargain Outlet in the 1st quarter worth $31,000. Brown Brothers Harriman & Co. purchased a new stake in Ollie's Bargain Outlet in the 4th quarter worth $33,000. Finally, Putney Financial Group LLC bought a new position in shares of Ollie's Bargain Outlet in the 4th quarter valued at about $33,000.

Ollie's Bargain Outlet Stock Down 4.0%

NASDAQ OLLI traded down $5.11 during trading hours on Tuesday, hitting $123.13. 1,224,900 shares of the company were exchanged, compared to its average volume of 1,163,262. The company has a 50 day moving average of $119.11 and a two-hundred day moving average of $111.42. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 37.89, a PEG ratio of 2.86 and a beta of 0.41. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $86.05 and a 52-week high of $134.59.

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

Insider Activity at Ollie's Bargain Outlet

In other news, CEO Der Valk Eric Van sold 728 shares of the business'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 value 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. The trade was a 8.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.87% of the company's stock.

Analyst Upgrades and Downgrades

OLLI has been the subject of a number of analyst reports. Wall Street Zen raised Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Morgan Stanley lifted their target price on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Loop Capital lowered Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price objective on the stock. in a report on Tuesday, June 24th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $133.00 target price on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Finally, JPMorgan Chase & Co. increased their target price on Ollie's Bargain Outlet from $135.00 to $137.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $125.21.

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.