Primecap Management Co. CA Has $54.60 Million 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 cut its position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 469,260 shares of the company's stock after selling 12,250 shares during the period. Primecap Management Co. CA owned 0.76% of Ollie's Bargain Outlet worth $54,603,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. HM Payson & Co. acquired a new position in shares of Ollie's Bargain Outlet during the 1st quarter worth about $30,000. City Holding Co. acquired a new position in Ollie's Bargain Outlet in the 1st quarter valued at about $31,000. Putney Financial Group LLC acquired a new position in Ollie's Bargain Outlet in the 4th quarter valued at about $33,000. Opal Wealth Advisors LLC acquired a new position in Ollie's Bargain Outlet in the 1st quarter valued at about $38,000. Finally, GeoWealth Management LLC acquired a new position in Ollie's Bargain Outlet in the 4th quarter valued at about $38,000.

Ollie's Bargain Outlet Stock Performance

Shares of NASDAQ OLLI traded down $0.26 during trading hours on Monday, hitting $134.84. 199,600 shares of the stock were exchanged, compared to its average volume of 1,163,429. The company has a market cap of $8.27 billion, a PE ratio of 41.48, a price-to-earnings-growth ratio of 3.04 and a beta of 0.40. The company's fifty day simple moving average is $127.79 and its two-hundred day simple moving average is $115.29. 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 EPS for the quarter, beating 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 net margin of 8.59% and a return on equity of 12.27%. The firm's revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 EPS. As a group, sell-side analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Der Valk Eric Van sold 728 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 7,761 shares of the company's stock, valued at $875,828.85. This represents a 8.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Truist Financial upped their price target 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. KeyCorp set a $145.00 price target on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a research note on Thursday, June 26th. Wall Street Zen upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada reissued an "outperform" rating and issued a $133.00 price objective on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Finally, Piper Sandler reissued an "overweight" rating and issued a $123.00 price objective (down previously from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $126.79.

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.