Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Shares Purchased by Geneva Capital Management LLC

Key Points

• Geneva Capital Management LLC increased its holdings in Ollie's Bargain Outlet Holdings, Inc. by 1.1%, now owning over 1 million shares, making it the company's 14th largest stock position.
• Ollie's Bargain Outlet reported $0.75 earnings per share (EPS) for the quarter, exceeding estimates and marking a 13.4% revenue growth compared to the previous year.
• Analysts have mixed ratings on Ollie's stock, with price targets ranging from $130 to $159 and a consensus rating of "Moderate Buy."

Geneva Capital Management LLC raised its position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,049,459 shares of the company's stock after acquiring an additional 10,913 shares during the period. Ollie's Bargain Outlet makes up approximately 2.3% of Geneva Capital Management LLC's holdings, making the stock its 14th biggest holding. Geneva Capital Management LLC owned approximately 1.71% of Ollie's Bargain Outlet worth $122,115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. HM Payson & Co. purchased a new position in Ollie's Bargain Outlet during the 1st quarter valued at about $30,000. City Holding Co. purchased a new stake in Ollie's Bargain Outlet during the first quarter worth $31,000. Putney Financial Group LLC bought a new stake in Ollie's Bargain Outlet during the 4th quarter valued at $33,000. GeoWealth Management LLC purchased a new position in shares of Ollie's Bargain Outlet in the 4th quarter valued at $38,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Ollie's Bargain Outlet in the 1st quarter worth $38,000.

Ollie's Bargain Outlet Trading Up 1.7%

NASDAQ:OLLI traded up $2.38 during trading hours on Wednesday, hitting $140.80. The stock had a trading volume of 655,190 shares, compared to its average volume of 853,531. The business has a 50 day simple moving average of $126.20 and a two-hundred day simple moving average of $114.69. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $86.05 and a 1-year high of $141.74. The company has a market cap of $8.64 billion, a PE ratio of 43.32, a price-to-earnings-growth ratio of 3.11 and a beta of 0.40.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $565.04 million. During the same period last year, the firm earned $0.73 earnings per share. The company's revenue was up 13.4% on a year-over-year basis. Research analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Activity

In related news, CEO Der Valk Eric Van sold 728 shares of the business's stock in a transaction dated Friday, June 13th. The stock was 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 directly owned 7,761 shares of the company's stock, valued at $875,828.85. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OLLI. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price objective (down previously from $124.00) on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Loop Capital lowered Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 target price on the stock. in a research report on Tuesday, June 24th. Truist Financial boosted their price target on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. KeyCorp set a $145.00 target price 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 report on Tuesday, May 13th. 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, the company has a consensus rating of "Moderate Buy" and an average price target of $126.79.

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.