Teza Capital Management LLC Sells 3,169 Shares of Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Teza Capital Management LLC has reduced its holdings in Ollie's Bargain Outlet by 47.3%, owning 3,531 shares valued at $411,000 after selling 3,169 shares in the 1st quarter.
• Several hedge funds, including Wellington Management Group LLP and Bank of New York Mellon Corp, have increased their stakes significantly in Ollie's, with Wellington's stake growing by 268.0%.
• Ollie's reported earnings of $0.99 per share for the last quarter, exceeding analyst expectations, with revenue increasing by 17.5% compared to the previous year.

Teza Capital Management LLC trimmed its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 47.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,531 shares of the company's stock after selling 3,169 shares during the quarter. Teza Capital Management LLC's holdings in Ollie's Bargain Outlet were worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its holdings in Ollie's Bargain Outlet by 63.8% in the first quarter. Teacher Retirement System of Texas now owns 11,711 shares of the company's stock worth $1,363,000 after buying an additional 4,563 shares during the last quarter. Axiom Investors LLC DE acquired a new position in Ollie's Bargain Outlet in the first quarter worth approximately $4,749,000. DAVENPORT & Co LLC increased its holdings in Ollie's Bargain Outlet by 10.6% in the first quarter. DAVENPORT & Co LLC now owns 2,266 shares of the company's stock worth $264,000 after buying an additional 217 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Ollie's Bargain Outlet by 25.5% in the first quarter. Bank of New York Mellon Corp now owns 881,996 shares of the company's stock worth $102,629,000 after buying an additional 179,452 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings in Ollie's Bargain Outlet by 13.3% in the first quarter. Stephens Investment Management Group LLC now owns 809,282 shares of the company's stock worth $94,168,000 after buying an additional 95,204 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OLLI shares. Citigroup restated a "buy" rating on shares of Ollie's Bargain Outlet in a report on Friday, August 29th. Craig Hallum set a $156.00 price objective on Ollie's Bargain Outlet in a report on Friday, August 29th. Wall Street Zen upgraded Ollie's Bargain Outlet from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. Jefferies Financial Group increased their price target on Ollie's Bargain Outlet from $111.00 to $135.00 and gave the company a "hold" rating in a report on Friday, August 29th. Finally, Truist Financial increased their price target on Ollie's Bargain Outlet from $146.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $143.46.

Insider Activity

In other news, SVP James J. Comitale sold 2,117 shares of the firm's 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 sale, the senior vice president owned 2,504 shares in the company, valued at approximately $325,520. This trade represents a 45.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.75% of the company's stock.

Ollie's Bargain Outlet Price Performance

Shares of Ollie's Bargain Outlet stock traded down $0.04 during midday trading on Friday, hitting $131.53. The company had a trading volume of 777,231 shares, compared to its average volume of 1,238,665. The business's 50 day simple moving average is $132.43 and its two-hundred day simple moving average is $119.61. The stock has a market cap of $8.06 billion, a PE ratio of 38.12, a P/E/G ratio of 2.69 and a beta of 0.45. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $86.88 and a 1-year high of $141.74.

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

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.