Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Shares Acquired by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management increased its holdings in Ollie's Bargain Outlet by 30.9%, acquiring an additional 18,994 shares to reach a total of 80,459 shares valued at approximately $9.36 million.
• Ollie's reported earnings per share (EPS) of $0.75 for the latest quarter, surpassing analysts' expectations of $0.70, with revenue rising 13.4% year-over-year.
• The stock has a market capitalization of $8.55 billion and recently opened at $139.34, with analysts giving it a consensus target price of $126.79, indicating a generally positive outlook.

Picton Mahoney Asset Management grew its position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 30.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,459 shares of the company's stock after buying an additional 18,994 shares during the period. Picton Mahoney Asset Management owned approximately 0.13% of Ollie's Bargain Outlet worth $9,361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of OLLI. LPL Financial LLC boosted its position in Ollie's Bargain Outlet by 4.7% in the fourth quarter. LPL Financial LLC now owns 106,980 shares of the company's stock worth $11,643,000 after purchasing an additional 4,772 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Ollie's Bargain Outlet by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company's stock valued at $638,843,000 after acquiring an additional 70,496 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Ollie's Bargain Outlet by 489.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock valued at $25,000 after purchasing an additional 191 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Ollie's Bargain Outlet by 130.5% in 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 in the last quarter. Finally, Norges Bank purchased a new stake in Ollie's Bargain Outlet in the fourth quarter worth about $80,741,000.

Insider Transactions at Ollie's Bargain Outlet

In other news, CEO Der Valk Eric Van sold 728 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $112.85, for a total value of $82,154.80. Following the sale, the chief executive officer directly owned 7,761 shares of the company's stock, valued at $875,828.85. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on OLLI. JPMorgan Chase & Co. increased their price target 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. Truist Financial boosted their price objective on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Wall Street Zen raised Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Loop Capital lowered Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price target on the stock. in a research note on Tuesday, June 24th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $133.00 price target on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $126.79.

Ollie's Bargain Outlet Price Performance

NASDAQ OLLI traded up $0.35 during trading hours on Friday, hitting $136.98. The company's stock had a trading volume of 372,517 shares, compared to its average volume of 1,183,094. The company's 50 day simple moving average is $124.59 and its two-hundred day simple moving average is $113.84. The company has a market cap of $8.40 billion, a P/E ratio of 42.05, a price-to-earnings-growth ratio of 3.11 and a beta of 0.41. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $86.05 and a 12 month high of $140.24.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.05. The firm had revenue of $576.77 million for 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 company's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. As a group, research analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Ollie's Bargain Outlet 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.