Trust Point Inc. Has $830,000 Position in Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Trust Point Inc. has reduced its holdings in Ollie's Bargain Outlet by 32.3%, selling 2,999 shares and leaving them with 6,297 shares valued at $830,000.
• Several hedge funds have adjusted their positions in Ollie's, with notable increases from Wealth Enhancement Advisory Services LLC and Thrive Wealth Management LLC, as well as new purchases by GK Wealth Management LLC.
• Ollie's recently reported strong quarterly earnings, with $0.99 earnings per share exceeding expectations and a 17.5% year-over-year revenue increase to $679.56 million.

Trust Point Inc. lowered its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 32.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,297 shares of the company's stock after selling 2,999 shares during the quarter. Trust Point Inc.'s holdings in Ollie's Bargain Outlet were worth $830,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. HM Payson & Co. bought a new stake in shares of Ollie's Bargain Outlet in the 1st quarter worth approximately $30,000. City Holding Co. bought a new stake in shares of Ollie's Bargain Outlet in the 1st quarter worth approximately $31,000. Putney Financial Group LLC bought a new stake in shares of Ollie's Bargain Outlet in the 4th quarter worth approximately $33,000. Opal Wealth Advisors LLC bought a new stake in shares of Ollie's Bargain Outlet in the 1st quarter worth approximately $38,000. Finally, Brooklyn Investment Group lifted its position in shares of Ollie's Bargain Outlet by 133.5% in the 1st quarter. Brooklyn Investment Group now owns 390 shares of the company's stock worth $45,000 after acquiring an additional 223 shares during the period.

Wall Street Analyst Weigh In

OLLI has been the subject of several analyst reports. Morgan Stanley raised their target price on Ollie's Bargain Outlet from $118.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Friday, August 29th. KeyCorp raised their target price on Ollie's Bargain Outlet from $145.00 to $154.00 and gave the stock an "overweight" rating in a research report on Friday. Citigroup reiterated a "buy" rating on shares of Ollie's Bargain Outlet in a research report on Friday, August 29th. Wells Fargo & Company lifted their target price on Ollie's Bargain Outlet from $105.00 to $130.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Finally, UBS Group lifted their target price on Ollie's Bargain Outlet from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.15.

Insiders Place Their Bets

In related news, SVP James J. Comitale sold 2,117 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $130.00, for a total transaction of $275,210.00. Following the sale, the senior vice president owned 2,504 shares in the company, valued at $325,520. The trade was a 45.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.87% of the stock is owned by corporate insiders.

Ollie's Bargain Outlet Price Performance

NASDAQ:OLLI traded down $1.68 during trading hours on Tuesday, reaching $131.27. 106,979 shares of the company were exchanged, compared to its average volume of 1,165,987. The company has a market capitalization of $8.05 billion, a P/E ratio of 38.13, a P/E/G ratio of 2.81 and a beta of 0.45. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $86.88 and a 1-year high of $141.74. The business has a 50 day moving average of $133.48 and a 200 day moving average of $121.11.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.08. The business had revenue of $679.56 million for the quarter, compared to the consensus estimate of $658.03 million. Ollie's Bargain Outlet had a return on equity of 12.66% and a net margin of 8.74%.The firm's quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. As a group, equities research analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal 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.