Cetera Investment Advisers Reduces Stock Position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Key Points

• Cetera Investment Advisers has reduced its stake in Ollie's Bargain Outlet by 37.8%, selling 7,222 shares and leaving them with 11,862 shares valued at approximately $1.38 million.
• Ollie's reported a 13.4% increase in revenue for the most recent quarter, totaling $576.77 million, while EPS exceeded expectations at $0.75.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Ollie's stock, with an average target price of $126.79, despite some recent downgrades.

Cetera Investment Advisers lessened its position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 37.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,862 shares of the company's stock after selling 7,222 shares during the quarter. Cetera Investment Advisers' holdings in Ollie's Bargain Outlet were worth $1,380,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Caxton Associates LP bought a new stake in shares of Ollie's Bargain Outlet in the 4th quarter valued at approximately $438,000. Schonfeld Strategic Advisors LLC lifted its stake in shares of Ollie's Bargain Outlet by 85.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 5,800 shares of the company's stock valued at $636,000 after purchasing an additional 2,668 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Ollie's Bargain Outlet by 63.8% in the 1st quarter. Teacher Retirement System of Texas now owns 11,711 shares of the company's stock valued at $1,363,000 after purchasing an additional 4,563 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Ollie's Bargain Outlet by 1.1% in the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company's stock valued at $180,558,000 after purchasing an additional 17,302 shares during the last quarter. Finally, Bank of Nova Scotia lifted its stake in shares of Ollie's Bargain Outlet by 213.0% in the 4th quarter. Bank of Nova Scotia now owns 12,595 shares of the company's stock valued at $1,382,000 after purchasing an additional 8,571 shares during the last quarter.

Ollie's Bargain Outlet Trading Down 2.5%

Shares of OLLI traded down $3.38 during trading hours on Thursday, hitting $131.86. The company had a trading volume of 401,977 shares, compared to its average volume of 1,158,733. Ollie's Bargain Outlet Holdings, Inc. has a one year low of $86.29 and a one year high of $141.74. The company's fifty day moving average price is $129.13 and its two-hundred day moving average price is $115.71. The company has a market capitalization of $8.09 billion, a PE ratio of 40.58, a price-to-earnings-growth ratio of 2.99 and a beta of 0.40.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on OLLI shares. JPMorgan Chase & Co. raised their price objective on Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Truist Financial reissued a "buy" rating and issued a $146.00 price objective (up from $128.00) on shares of Ollie's Bargain Outlet in a research report on Wednesday. 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. Royal Bank Of Canada reissued an "outperform" rating and set a $133.00 price target on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Finally, KeyCorp set a $145.00 price objective on Ollie's Bargain Outlet and gave the company an "overweight" rating in a research report on Thursday, June 26th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Ollie's Bargain Outlet currently has an average rating of "Moderate Buy" and a consensus price target of $128.07.

Insiders Place Their Bets

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 stock was sold at an average price of $112.85, for a total transaction of $82,154.80. Following the sale, the chief executive officer owned 7,761 shares in the company, valued at approximately $875,828.85. The trade was a 8.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.75% of the company's stock.

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.