Ollie's Bargain Outlet Holdings, Inc. $OLLI Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in Ollie's Bargain Outlet by 7.7%, now holding 42,364 shares valued at approximately $5.58 million.
• Ollie's Bargain Outlet reported a quarterly earnings per share (EPS) of $0.99, surpassing the estimated $0.91, alongside a revenue of $679.56 million, reflecting a 17.5% year-over-year increase.
• Several analysts have upgraded their price targets for Ollie's stock, with notable increases from Piper Sandler and Morgan Stanley, suggesting a strong consensus rating of "Moderate Buy" and a target price around $144.15.

Truist Financial Corp decreased its holdings in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,364 shares of the company's stock after selling 3,541 shares during the period. Truist Financial Corp owned about 0.07% of Ollie's Bargain Outlet worth $5,583,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP grew its position in shares of Ollie's Bargain Outlet by 268.0% during the 1st quarter. Wellington Management Group LLP now owns 844,799 shares of the company's stock valued at $98,301,000 after buying an additional 615,257 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Ollie's Bargain Outlet by 130.3% in the first quarter. Ameriprise Financial Inc. now owns 828,743 shares of the company's stock valued at $96,428,000 after acquiring an additional 468,944 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Ollie's Bargain Outlet during the first quarter valued at approximately $33,615,000. Nuveen LLC acquired a new stake in shares of Ollie's Bargain Outlet during the 1st quarter worth approximately $24,452,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Ollie's Bargain Outlet by 637.6% in the 1st quarter. Victory Capital Management Inc. now owns 218,548 shares of the company's stock worth $25,430,000 after purchasing an additional 188,917 shares during the last quarter.

Analyst Upgrades and Downgrades

OLLI has been the subject of a number of recent research reports. Piper Sandler upped their price objective on Ollie's Bargain Outlet from $123.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 19th. Citigroup restated a "buy" rating on shares of Ollie's Bargain Outlet in a research report on Friday, August 29th. Morgan Stanley lifted their price objective on shares of Ollie's Bargain Outlet from $118.00 to $145.00 and gave the company an "equal weight" rating in a research report on Friday, August 29th. UBS Group boosted their target price on shares of Ollie's Bargain Outlet from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Finally, Royal Bank Of Canada raised their price target on shares of Ollie's Bargain Outlet from $144.00 to $149.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.15.

Ollie's Bargain Outlet Trading Down 3.4%

Shares of NASDAQ:OLLI opened at $127.01 on Tuesday. The company has a 50 day moving average of $133.21 and a 200-day moving average of $123.06. The firm has a market cap of $7.79 billion, a P/E ratio of 36.81, a P/E/G ratio of 2.69 and a beta of 0.42. Ollie's Bargain Outlet Holdings, Inc. has a twelve month low of $86.88 and a twelve month high of $141.74.

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 analysts' consensus estimates of $0.91 by $0.08. The business had revenue of $679.56 million for the quarter, compared to analyst estimates of $658.03 million. Ollie's Bargain Outlet had a net margin of 8.74% and a return on equity of 12.66%. The business's revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. Equities research analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Transactions at Ollie's Bargain Outlet

In related news, Chairman John W. Swygert sold 107,058 shares of Ollie's Bargain Outlet stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $132.87, for a total transaction of $14,224,796.46. Following the transaction, the chairman directly owned 48,200 shares of the company's stock, valued at $6,404,334. The trade was a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Der Valk Eric Van sold 4,000 shares of the business's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $132.27, for a total transaction of $529,080.00. Following the completion of the sale, the chief executive officer owned 7,761 shares in the company, valued at approximately $1,026,547.47. This trade represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,175 shares of company stock valued at $15,029,086. Corporate 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.

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