Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Shares Sold by Polen Capital Management LLC

Key Points

• Polen Capital Management LLC reduced its stake in Ollie's Bargain Outlet by 28.6%, selling 3,605 shares and holding a total of 8,998 shares valued at approximately $1.05 million.
• Several hedge funds have increased their positions in Ollie's, with Bank of Nova Scotia raising its holdings by 213% during the fourth quarter, now owning shares worth about $1.38 million.
• Analysts are mixed on the stock, with JPMorgan Chase raising its price target to $159 while Loop Capital downgraded it to a "hold" rating, indicating varied investor sentiment.

Polen Capital Management LLC lowered its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 28.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,998 shares of the company's stock after selling 3,605 shares during the quarter. Polen Capital Management LLC's holdings in Ollie's Bargain Outlet were worth $1,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OLLI. Kayne Anderson Rudnick Investment Management LLC grew its stake in Ollie's Bargain Outlet by 173.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock worth $509,671,000 after buying an additional 2,948,393 shares during the last quarter. Invesco Ltd. grew its stake in Ollie's Bargain Outlet by 1.1% during the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company's stock valued at $180,558,000 after purchasing an additional 17,302 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Ollie's Bargain Outlet by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,242,332 shares of the company's stock valued at $136,325,000 after purchasing an additional 24,890 shares during the last quarter. Geneva Capital Management LLC grew its stake in Ollie's Bargain Outlet by 1.1% during the 1st quarter. Geneva Capital Management LLC now owns 1,049,459 shares of the company's stock valued at $122,115,000 after purchasing an additional 10,913 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Ollie's Bargain Outlet by 25.5% during the 1st quarter. Bank of New York Mellon Corp now owns 881,996 shares of the company's stock valued at $102,629,000 after purchasing an additional 179,452 shares during the last quarter.

Insiders Place Their Bets

In other news, CEO Der Valk Eric Van sold 728 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $112.85, for a total transaction of $82,154.80. Following the sale, the chief executive officer owned 7,761 shares in the company, valued at $875,828.85. This trade represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Stock Down 1.7%

OLLI stock traded down $2.23 during trading on Tuesday, hitting $132.91. The company had a trading volume of 710,356 shares, compared to its average volume of 853,701. The firm has a market cap of $8.15 billion, a PE ratio of 40.90, a price-to-earnings-growth ratio of 3.04 and a beta of 0.40. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $86.05 and a 1-year high of $141.74. The firm has a 50-day moving average price of $128.71 and a 200-day moving average price of $115.57.

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 (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.05. The company had revenue of $576.77 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. Sell-side analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on OLLI shares. JPMorgan Chase & Co. upped their target price on Ollie's Bargain Outlet from $137.00 to $159.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Loop Capital downgraded Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 target price on the stock. in a research note on Tuesday, June 24th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $133.00 price target on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. KeyCorp set a $145.00 price target on Ollie's Bargain Outlet and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Wall Street Zen raised Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.79.

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.