Shellback Capital LP Acquires 54,394 Shares of Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Shellback Capital LP increased its holdings in Ollie's Bargain Outlet by 38.4%, owning a total of 195,894 shares valued at approximately $22.79 million, making it the firm's 14th largest position.
• Ollie's Bargain Outlet reported earnings per share (EPS) of $0.99, surpassing analysts' estimates and showing a 17.5% year-over-year revenue growth to $679.56 million.
• Several analysts have raised their price targets for Ollie's shares, with recommendations ranging from $145.00 to $156.00, indicating a generally positive sentiment towards the stock.

Shellback Capital LP increased its stake in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 38.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,894 shares of the company's stock after acquiring an additional 54,394 shares during the quarter. Ollie's Bargain Outlet makes up about 2.2% of Shellback Capital LP's portfolio, making the stock its 14th largest position. Shellback Capital LP owned approximately 0.32% of Ollie's Bargain Outlet worth $22,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HM Payson & Co. acquired a new position in shares of Ollie's Bargain Outlet during the first quarter valued at about $30,000. City Holding Co. bought a new stake in Ollie's Bargain Outlet in the 1st quarter valued at about $31,000. Putney Financial Group LLC acquired a new position in Ollie's Bargain Outlet during the 4th quarter worth approximately $33,000. Opal Wealth Advisors LLC bought a new position in Ollie's Bargain Outlet in the first quarter worth approximately $38,000. Finally, Brooklyn Investment Group grew its stake in Ollie's Bargain Outlet by 133.5% in the first quarter. Brooklyn Investment Group now owns 390 shares of the company's stock valued at $45,000 after acquiring an additional 223 shares during the period.

Ollie's Bargain Outlet Stock Down 3.3%

Ollie's Bargain Outlet stock traded down $4.37 during midday trading on Tuesday, hitting $127.99. 1,265,431 shares of the stock were exchanged, compared to its average volume of 1,169,748. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $86.88 and a 52-week high of $141.74. The business's 50-day moving average price is $132.58 and its 200-day moving average price is $118.94. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 37.10, a price-to-earnings-growth ratio of 2.70 and a beta of 0.45.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.91 by $0.08. Ollie's Bargain Outlet had a net margin of 8.74% and a return on equity of 12.66%. The firm had revenue of $679.56 million during the quarter, compared to analyst estimates of $658.03 million. During the same quarter last year, the business posted $0.78 EPS. The company's revenue for the quarter was up 17.5% on a year-over-year basis. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. On average, sell-side analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Craig Hallum set a $156.00 price objective on Ollie's Bargain Outlet in a report on Friday, August 29th. Wells Fargo & Company boosted their price target on shares of Ollie's Bargain Outlet from $105.00 to $130.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Morgan Stanley upped their price objective on shares of Ollie's Bargain Outlet from $118.00 to $145.00 and gave the stock an "equal weight" rating in a report on Friday, August 29th. Jefferies Financial Group boosted their target price on shares of Ollie's Bargain Outlet from $111.00 to $135.00 and gave the stock a "hold" rating in a research report on Friday, August 29th. Finally, Royal Bank Of Canada upped their target price on shares of Ollie's Bargain Outlet from $144.00 to $149.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $143.46.

Insiders Place Their Bets

In other news, SVP James J. Comitale sold 2,117 shares of Ollie's Bargain Outlet stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $130.00, for a total transaction of $275,210.00. Following the sale, the senior vice president directly owned 2,504 shares in the company, valued at $325,520. The trade was a 45.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $82,154.80. Following the completion of 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 disclosure for this sale can be found here. Insiders own 0.87% 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.