Primecap Management Co. CA Has $54.60 Million Stock Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Key Points

• Primecap Management Co. CA reduced its stake in Ollie's Bargain Outlet by 2.5%, selling 12,250 shares, leaving it with approximately 469,260 shares valued at $54.6 million.
• CEO Der Valk Eric Van sold 728 shares of the company, resulting in an 8.58% decrease in his position, with total shares now valued at around $875,828.
• Ollie's reported a 13.4% year-over-year revenue growth for its most recent quarter, beating estimates with earnings per share of $0.75.

Primecap Management Co. CA lowered its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 469,260 shares of the company's stock after selling 12,250 shares during the quarter. Primecap Management Co. CA owned about 0.76% of Ollie's Bargain Outlet worth $54,603,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position 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 in the last quarter. Raymond James Financial Inc. bought a new position in shares of Ollie's Bargain Outlet in the fourth quarter worth about $48,633,000. Envestnet Asset Management Inc. lifted its position in shares of 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 purchasing an additional 247,852 shares in the last quarter. Freestone Grove Partners LP bought a new stake in shares of Ollie's Bargain Outlet during the fourth quarter valued at approximately $24,452,000. Finally, Royal Bank of Canada increased its holdings in shares of Ollie's Bargain Outlet by 48.5% in the fourth quarter. Royal Bank of Canada now owns 649,382 shares of the company's stock valued at $71,257,000 after purchasing an additional 212,055 shares in the last quarter.

Insider Activity

In related news, CEO Der Valk Eric Van sold 728 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $112.85, for a total value of $82,154.80. Following the completion of the sale, the chief executive officer owned 7,761 shares in the company, valued at $875,828.85. This represents a 8.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.75% of the stock is owned by company insiders.

Ollie's Bargain Outlet Price Performance

Shares of Ollie's Bargain Outlet stock traded down $4.25 during trading on Friday, hitting $135.10. 898,118 shares of the company were exchanged, compared to its average volume of 840,868. The firm has a market capitalization of $8.29 billion, a P/E ratio of 41.57, a price-to-earnings-growth ratio of 3.13 and a beta of 0.40. The firm's fifty day moving average price is $127.79 and its 200 day moving average price is $115.24. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $86.05 and a 1-year high of $141.74.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The firm had revenue of $576.77 million during the quarter, compared to analysts' expectations of $565.04 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The business's revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities research analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OLLI. Piper Sandler reaffirmed an "overweight" rating and set a $123.00 price objective (down previously from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. JPMorgan Chase & Co. upped 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. Royal Bank Of Canada reiterated an "outperform" rating and issued a $133.00 price objective on shares of Ollie's Bargain Outlet in a research report 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. Finally, Loop Capital lowered shares of 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. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently 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.