Blueshift Asset Management LLC Acquires 16,532 Shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Key Points

• Blueshift Asset Management LLC increased its holdings in Ollie's Bargain Outlet by 114.3% in Q1, making it the firm's 4th largest position with approximately 30,990 shares valued at $3.6 million.
• Ollie's reported a net margin of 8.59% and exceeded analysts' revenue estimates for the quarter, achieving $576.77 million compared to the expected $565.04 million.
• Several institutional investors have increased their stakes in Ollie's, including Mitsubishi UFJ Asset Management, which boosted its shareholding by 489.7% in Q4.

Blueshift Asset Management LLC grew its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 114.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,990 shares of the company's stock after buying an additional 16,532 shares during the period. Ollie's Bargain Outlet makes up about 1.4% of Blueshift Asset Management LLC's holdings, making the stock its 4th biggest holding. Blueshift Asset Management LLC owned 0.05% of Ollie's Bargain Outlet worth $3,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in OLLI. Wedmont Private Capital raised its stake in shares of Ollie's Bargain Outlet by 4.5% in the first quarter. Wedmont Private Capital now owns 2,084 shares of the company's stock valued at $238,000 after acquiring an additional 89 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of Ollie's Bargain Outlet by 3.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,912 shares of the company's stock valued at $320,000 after purchasing an additional 97 shares in the last quarter. Xponance Inc. boosted its stake in Ollie's Bargain Outlet by 1.4% during the 1st quarter. Xponance Inc. now owns 7,231 shares of the company's stock worth $841,000 after purchasing an additional 102 shares during the last quarter. Pitcairn Co. boosted its position in shares of Ollie's Bargain Outlet by 1.7% during the 4th quarter. Pitcairn Co. now owns 7,244 shares of the company's stock valued at $795,000 after acquiring an additional 120 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Ollie's Bargain Outlet by 11.5% in the 4th quarter. Covestor Ltd now owns 1,387 shares of the company's stock valued at $152,000 after buying an additional 143 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OLLI shares. 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 research note on Wednesday, June 4th. JPMorgan Chase & Co. raised their target price on Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a report on Monday, July 21st. KeyCorp set a $145.00 price objective on Ollie's Bargain Outlet and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Royal Bank Of Canada restated an "outperform" rating and issued a $133.00 price target on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Finally, Wall Street Zen raised Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $126.79.

Ollie's Bargain Outlet Price Performance

Ollie's Bargain Outlet stock traded down $0.78 during mid-day trading on Tuesday, hitting $139.35. The company's stock had a trading volume of 340,338 shares, compared to its average volume of 1,174,704. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $86.05 and a 12 month high of $140.98. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 42.90, a price-to-earnings-growth ratio of 3.10 and a beta of 0.40. The business has a 50 day moving average price of $125.72 and a 200-day moving average price of $114.52.

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 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 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 quarter last year, the company posted $0.73 EPS. On average, equities research analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Der Valk Eric Van sold 728 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were 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 in the company, valued at approximately $875,828.85. This trade represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.87% of the company's stock.

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.