Oak Ridge Investments LLC Has $4.91 Million Stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Key Points

• Oak Ridge Investments LLC decreased its stake in Ollie's Bargain Outlet by 19.4%, selling 10,133 shares and now holds 42,173 shares valued at approximately $4.9 million.
• Multiple institutional investors, including Advisory Services Network LLC and Barclays PLC, have made significant increases in their stakes in Ollie's Bargain Outlet, reflecting strong institutional interest in the stock.
• Ollie's recently reported quarterly earnings of $0.75 EPS, exceeding analyst expectations of $0.70, with revenue climbing 13.4% year-over-year to $576.77 million.

Oak Ridge Investments LLC reduced its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,173 shares of the company's stock after selling 10,133 shares during the quarter. Oak Ridge Investments LLC owned approximately 0.07% of Ollie's Bargain Outlet worth $4,907,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. HM Payson & Co. acquired a new position in shares of Ollie's Bargain Outlet during the first quarter worth about $30,000. City Holding Co. acquired a new stake in shares of Ollie's Bargain Outlet during the first quarter worth approximately $31,000. Putney Financial Group LLC bought a new stake in Ollie's Bargain Outlet in the 4th quarter valued at $33,000. GeoWealth Management LLC acquired a new position in Ollie's Bargain Outlet in the 4th quarter valued at about $38,000. Finally, Opal Wealth Advisors LLC bought a new position in Ollie's Bargain Outlet in the 1st quarter valued at approximately $38,000.

Insider Buying and Selling

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 728 shares of Ollie's Bargain Outlet stock in a transaction 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 completion of the sale, 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 document filed with the SEC, which is available at this hyperlink. Company insiders own 0.75% of the company's stock.

Ollie's Bargain Outlet Stock Up 1.2%

NASDAQ:OLLI traded up $1.62 during midday trading on Friday, reaching $133.52. The stock had a trading volume of 1,025,926 shares, compared to its average volume of 772,675. The firm has a fifty day simple moving average of $129.75 and a two-hundred day simple moving average of $115.99. Ollie's Bargain Outlet Holdings, Inc. has a 12-month low of $86.29 and a 12-month high of $141.74. The stock has a market cap of $8.19 billion, a P/E ratio of 41.08, a P/E/G ratio of 2.99 and a beta of 0.40.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings data 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 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 analyst estimates of $565.04 million. During the same quarter last year, the firm earned $0.73 EPS. Ollie's Bargain Outlet's revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OLLI has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $133.00 price objective on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Wall Street Zen raised shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. KeyCorp set a $145.00 price objective on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a research report on Thursday, June 26th. Piper Sandler reaffirmed an "overweight" rating and set a $123.00 price target (down previously from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Finally, Truist Financial reaffirmed a "buy" rating and set a $146.00 price target (up previously from $128.00) on shares of Ollie's Bargain Outlet in a research note on Wednesday. Six equities 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, Ollie's Bargain Outlet currently has an average rating of "Moderate Buy" and a consensus target price of $128.07.

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.