Peregrine Capital Management LLC Grows Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Peregrine Capital Management LLC grew its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 3.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,604 shares of the company's stock after purchasing an additional 3,528 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.18% of Ollie's Bargain Outlet worth $12,637,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in Ollie's Bargain Outlet by 173.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock valued at $509,671,000 after buying an additional 2,948,393 shares during the last quarter. Norges Bank bought a new position in shares of Ollie's Bargain Outlet in the fourth quarter valued at approximately $80,741,000. Raymond James Financial Inc. purchased a new stake in shares of Ollie's Bargain Outlet during the fourth quarter valued at approximately $48,633,000. Envestnet Asset Management Inc. lifted its holdings in Ollie's Bargain Outlet by 103.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 487,774 shares of the company's stock worth $53,523,000 after acquiring an additional 247,852 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Ollie's Bargain Outlet by 130.5% during the fourth quarter. JPMorgan Chase & Co. now owns 436,366 shares of the company's stock worth $47,882,000 after acquiring an additional 247,065 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OLLI shares. Morgan Stanley upped their price objective on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. increased their price target on shares of Ollie's Bargain Outlet from $135.00 to $137.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. UBS Group lifted their price objective on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Truist Financial boosted their target price on shares of Ollie's Bargain Outlet from $126.00 to $128.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $133.00 target price on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $125.21.

Ollie's Bargain Outlet Price Performance

Shares of Ollie's Bargain Outlet stock traded down $1.02 during trading hours on Monday, reaching $131.78. The company had a trading volume of 1,458,026 shares, compared to its average volume of 1,173,489. The firm has a market cap of $8.08 billion, a PE ratio of 40.55, a price-to-earnings-growth ratio of 2.99 and a beta of 0.37. Ollie's Bargain Outlet Holdings, Inc. has a one year low of $86.05 and a one year high of $134.59. The business has a fifty day simple moving average of $114.66 and a 200 day simple moving average of $110.50.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $565.04 million. Ollie's Bargain Outlet had a return on equity of 12.27% and a net margin of 8.59%. The firm's revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 EPS. On average, research analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Activity at Ollie's Bargain Outlet

In other news, CFO Robert F. Helm sold 2,139 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $115.74, for a total value of $247,567.86. Following the transaction, the chief financial officer owned 2,961 shares of the company's stock, valued at approximately $342,706.14. This represents a 41.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman John W. Swygert sold 3,331 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $114.60, for a total value of $381,732.60. Following the transaction, the chairman owned 48,200 shares of the company's stock, valued at approximately $5,523,720. The trade was a 6.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,319 shares of company stock valued at $1,981,470 in the last quarter. 0.87% of the stock is currently owned by company insiders.

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.