Wellington Management Group LLP Buys 615,257 Shares of Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Wellington Management Group LLP significantly increased its stake in Ollie's Bargain Outlet by 268.0% during the 1st quarter, owning approximately 1.38% of the company worth around $98,301,000.
• Ollie's Bargain Outlet reported an impressive 13.4% year-over-year revenue increase for the quarter, with earnings per share (EPS) of $0.75, surpassing analysts' expectations.
• Several research firms have upgraded their target prices for Ollie's stock, with KeyCorp setting a price target of $145.00 and maintaining an "overweight" rating.

Wellington Management Group LLP raised its position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 268.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 844,799 shares of the company's stock after purchasing an additional 615,257 shares during the period. Wellington Management Group LLP owned 1.38% of Ollie's Bargain Outlet worth $98,301,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Caxton Associates LP purchased a new stake in shares of Ollie's Bargain Outlet during the 4th quarter valued at $438,000. Schonfeld Strategic Advisors LLC raised its position in shares of Ollie's Bargain Outlet by 85.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 5,800 shares of the company's stock valued at $636,000 after buying an additional 2,668 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Ollie's Bargain Outlet by 63.8% during the 1st quarter. Teacher Retirement System of Texas now owns 11,711 shares of the company's stock valued at $1,363,000 after buying an additional 4,563 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Ollie's Bargain Outlet by 10.6% during the 1st quarter. DAVENPORT & Co LLC now owns 2,266 shares of the company's stock valued at $264,000 after buying an additional 217 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Ollie's Bargain Outlet by 25.5% during the 1st quarter. Bank of New York Mellon Corp now owns 881,996 shares of the company's stock valued at $102,629,000 after buying an additional 179,452 shares in the last quarter.

Insider Activity

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 shares were sold at an average price of $112.85, for a total value of $82,154.80. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.87% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on OLLI shares. Truist Financial raised their price objective on shares of Ollie's Bargain Outlet from $128.00 to $146.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Piper Sandler lifted their target price on shares of Ollie's Bargain Outlet from $123.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 19th. Royal Bank Of Canada lifted their target price on shares of Ollie's Bargain Outlet from $133.00 to $144.00 and gave the stock an "outperform" rating in a research report on Monday, August 18th. KeyCorp set a $145.00 target price on shares of Ollie's Bargain Outlet and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.79.

Ollie's Bargain Outlet Trading Down 1.4%

Shares of OLLI stock traded down $1.94 during mid-day trading on Friday, reaching $132.19. The stock had a trading volume of 1,689,683 shares, compared to its average volume of 908,216. The stock's 50-day moving average price is $131.77 and its two-hundred day moving average price is $116.93. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $86.29 and a 52-week high of $141.74. The firm has a market capitalization of $8.11 billion, a PE ratio of 40.67, a price-to-earnings-growth ratio of 2.96 and a beta of 0.40.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $576.77 million for the quarter, compared to analysts' expectations of $565.04 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.650-3.750 EPS. On average, equities research analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

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.