Rheos Capital Works Inc. Sells 35,000 Shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Rheos Capital Works Inc. cut its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 15.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,000 shares of the company's stock after selling 35,000 shares during the quarter. Ollie's Bargain Outlet comprises about 1.8% of Rheos Capital Works Inc.'s holdings, making the stock its 21st biggest holding. Rheos Capital Works Inc. owned about 0.32% of Ollie's Bargain Outlet worth $22,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Ollie's Bargain Outlet by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company's stock worth $638,843,000 after buying an additional 70,496 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of 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 valued at $509,671,000 after purchasing an additional 2,948,393 shares during the last quarter. Congress Asset Management Co. grew its holdings in Ollie's Bargain Outlet by 181.6% during the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company's stock valued at $210,307,000 after buying an additional 1,235,994 shares in the last quarter. Invesco Ltd. raised its stake in Ollie's Bargain Outlet by 1.1% during the fourth 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 in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Ollie's Bargain Outlet by 12.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company's stock valued at $178,813,000 after acquiring an additional 186,313 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have commented on OLLI shares. Morgan Stanley lifted their price objective on shares of Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Piper Sandler restated an "overweight" rating and issued a $123.00 price objective (down from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Truist Financial increased their target price on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. 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. Finally, Wall Street Zen upgraded Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Ollie's Bargain Outlet has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Insider Buying and Selling

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 1,153 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $110.85, for a total transaction of $127,810.05. Following the transaction, the chief executive officer now owns 6,768 shares of the company's stock, valued at approximately $750,232.80. This trade represents a 14.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert F. Helm sold 2,145 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $108.50, for a total transaction of $232,732.50. Following the completion of the sale, the chief financial officer now directly owns 3,888 shares of the company's stock, valued at $421,848. The trade was a 35.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,897 shares of company stock worth $4,227,970 over the last ninety days. 0.75% of the stock is owned by insiders.

Ollie's Bargain Outlet Price Performance

Ollie's Bargain Outlet stock traded up $2.10 during mid-day trading on Thursday, hitting $114.21. 1,328,616 shares of the company were exchanged, compared to its average volume of 1,178,318. The company has a market capitalization of $7.01 billion, a P/E ratio of 34.09, a PEG ratio of 2.21 and a beta of 0.37. Ollie's Bargain Outlet Holdings, Inc. has a 12-month low of $84.48 and a 12-month high of $122.15. The business's 50 day simple moving average is $111.50 and its two-hundred day simple moving average is $108.64.

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 business had revenue of $576.77 million for the quarter, compared to analysts' expectations of $565.04 million. Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company's quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $0.73 earnings per share. Equities research analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

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.