Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. cut its position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 4.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,828,258 shares of the company's stock after selling 88,326 shares during the period. Ollie's Bargain Outlet makes up 1.6% of Congress Asset Management Co.'s holdings, making the stock its 5th largest position. Congress Asset Management Co. owned approximately 2.98% of Ollie's Bargain Outlet worth $212,736,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of OLLI. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ollie's Bargain Outlet by 489.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock worth $25,000 after buying an additional 191 shares during the last quarter. Bogart Wealth LLC purchased a new stake in shares of Ollie's Bargain Outlet in the fourth quarter worth about $26,000. Wilmington Savings Fund Society FSB boosted its stake in shares of Ollie's Bargain Outlet by 337.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company's stock worth $26,000 after buying an additional 182 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Ollie's Bargain Outlet by 55.2% in the fourth quarter. Blue Trust Inc. now owns 284 shares of the company's stock worth $31,000 after buying an additional 101 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Ollie's Bargain Outlet in the fourth quarter worth about $33,000.

Ollie's Bargain Outlet Stock Up 3.8%

Shares of NASDAQ OLLI traded up $4.36 during midday trading on Friday, hitting $119.37. The stock had a trading volume of 1,070,665 shares, compared to its average volume of 1,178,402. The company has a market capitalization of $7.32 billion, a PE ratio of 35.63, a P/E/G ratio of 2.21 and a beta of 0.37. The stock has a 50 day simple moving average of $111.66 and a 200-day simple moving average of $108.43. Ollie's Bargain Outlet Holdings, Inc. has a 1 year low of $82.84 and a 1 year high of $122.15.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. Ollie's Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm had revenue of $576.77 million during the quarter, compared to analysts' expectations of $565.04 million. During the same quarter last year, the firm earned $0.73 earnings per share. The business's revenue for the quarter was up 13.4% on a year-over-year basis. As a group, analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $133.00 price target on shares of Ollie's Bargain Outlet in a research report on Wednesday. Truist Financial increased their price target on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the stock a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price target 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. Wall Street Zen upgraded Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Piper Sandler reiterated an "overweight" rating and set a $123.00 price target (down previously from $124.00) on shares of Ollie's Bargain Outlet in a research report on Wednesday. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Ollie's Bargain Outlet currently has a consensus rating of "Moderate Buy" and a consensus target price of $124.50.

Insider Activity at Ollie's Bargain Outlet

In related news, Director Robert Fisch sold 6,250 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $108.08, for a total value of $675,500.00. Following the completion of the sale, the director now owns 22,159 shares of the company's stock, valued at approximately $2,394,944.72. This trade represents a 22.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert F. Helm sold 2,145 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $108.50, for a total value of $232,732.50. Following the completion of the sale, the chief financial officer now directly owns 3,888 shares of the company's stock, valued at approximately $421,848. This represents a 35.55% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,897 shares of company stock valued at $4,227,970. 0.75% of the stock is currently owned by insiders.

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.