Ollie's Bargain Outlet Holdings, Inc. $OLLI Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. has reduced its stake in Ollie's Bargain Outlet Holdings, Inc. by 6.2%, now holding approximately 1.7 million shares valued at $225.97 million.
• Analysts are optimistic about Ollie's stock, with an average rating of "Moderate Buy" and a price target of $144.15, following several upgrades from various financial institutions.
• Insider trading activity was notable, with Chairman John W. Swygert selling 107,058 shares for approximately $14.2 million, representing a 68.95% decrease in his ownership.

Congress Asset Management Co. decreased its holdings in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 6.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,714,761 shares of the company's stock after selling 113,497 shares during the quarter. Ollie's Bargain Outlet comprises 1.5% of Congress Asset Management Co.'s holdings, making the stock its 5th largest holding. Congress Asset Management Co. owned approximately 2.80% of Ollie's Bargain Outlet worth $225,971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OLLI. ProShare Advisors LLC increased its stake in Ollie's Bargain Outlet by 7.7% during the fourth quarter. ProShare Advisors LLC now owns 2,871 shares of the company's stock worth $315,000 after acquiring an additional 205 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in Ollie's Bargain Outlet during the fourth quarter worth $1,492,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ollie's Bargain Outlet by 13.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 163,575 shares of the company's stock worth $17,949,000 after acquiring an additional 19,004 shares during the last quarter. Jefferies Financial Group Inc. increased its stake in Ollie's Bargain Outlet by 20.3% during the fourth quarter. Jefferies Financial Group Inc. now owns 3,628 shares of the company's stock worth $398,000 after acquiring an additional 611 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Ollie's Bargain Outlet by 65.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,574 shares of the company's stock worth $721,000 after acquiring an additional 2,608 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OLLI shares. Craig Hallum set a $156.00 target price on Ollie's Bargain Outlet in a research note on Friday, August 29th. Bank of America raised their target price on Ollie's Bargain Outlet from $130.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. JPMorgan Chase & Co. lifted 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. Wall Street Zen raised Ollie's Bargain Outlet from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Finally, Wells Fargo & Company lifted their price objective on 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. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $144.15.

Insiders Place Their Bets

In related news, Chairman John W. Swygert sold 107,058 shares of Ollie's Bargain Outlet stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $132.87, for a total value of $14,224,796.46. Following the completion of the transaction, the chairman directly owned 48,200 shares in the company, valued at approximately $6,404,334. This trade represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP James J. Comitale sold 2,117 shares of Ollie's Bargain Outlet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $130.00, for a total value of $275,210.00. Following the completion of the transaction, the senior vice president owned 2,504 shares of the company's stock, valued at approximately $325,520. This trade represents a 45.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.75% of the company's stock.

Ollie's Bargain Outlet Trading Down 0.8%

Shares of NASDAQ OLLI opened at $133.65 on Friday. Ollie's Bargain Outlet Holdings, Inc. has a twelve month low of $86.88 and a twelve month high of $141.74. The stock has a fifty day simple moving average of $133.83 and a 200-day simple moving average of $121.51. The stock has a market capitalization of $8.19 billion, a PE ratio of 38.74, a PEG ratio of 2.75 and a beta of 0.45.

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

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.

Want to see what other hedge funds are holding OLLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.