Trust Point Inc. Sells 4,499 Shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Trust Point Inc. cut its position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 32.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,296 shares of the company's stock after selling 4,499 shares during the period. Trust Point Inc.'s holdings in Ollie's Bargain Outlet were worth $1,082,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stephens Inc. AR purchased a new stake in Ollie's Bargain Outlet during the 4th quarter valued at $439,000. Van ECK Associates Corp raised its position in Ollie's Bargain Outlet by 36.5% in the 4th quarter. Van ECK Associates Corp now owns 46,659 shares of the company's stock worth $5,120,000 after buying an additional 12,476 shares during the last quarter. Bogart Wealth LLC bought a new position in Ollie's Bargain Outlet during the 4th quarter valued at about $26,000. Blue Trust Inc. lifted its stake in Ollie's Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company's stock valued at $31,000 after acquiring an additional 101 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Ollie's Bargain Outlet by 2.3% during the 4th quarter. Rhumbline Advisers now owns 163,565 shares of the company's stock valued at $17,948,000 after acquiring an additional 3,691 shares during the last quarter.

Insider Activity

In related news, CEO Der Valk Eric Van sold 728 shares of Ollie's Bargain Outlet stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $112.85, for a total transaction of $82,154.80. Following the completion of the transaction, the chief executive officer now directly owns 7,761 shares of the company's stock, valued at approximately $875,828.85. The trade was a 8.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert F. Helm sold 2,139 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $115.74, for a total value of $247,567.86. Following the transaction, the chief financial officer now owns 2,961 shares of the company's stock, valued at $342,706.14. This trade represents a 41.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,625 shares of company stock worth $4,310,125. 0.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Wall Street Zen upgraded Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. upped their price objective on Ollie's Bargain Outlet from $135.00 to $137.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. KeyCorp reissued an "overweight" rating and issued a $135.00 target price on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Finally, 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 report on Wednesday, June 4th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Ollie's Bargain Outlet has a consensus rating of "Moderate Buy" and a consensus target price of $124.50.

Ollie's Bargain Outlet Stock Performance

Shares of Ollie's Bargain Outlet stock traded up $4.20 on Thursday, hitting $120.32. 1,480,134 shares of the company traded hands, compared to its average volume of 1,163,626. Ollie's Bargain Outlet Holdings, Inc. has a 52 week low of $86.05 and a 52 week high of $122.15. The business has a 50-day simple moving average of $112.52 and a 200 day simple moving average of $109.21. The stock has a market capitalization of $7.38 billion, a P/E ratio of 37.02, a price-to-earnings-growth ratio of 2.61 and a beta of 0.37.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 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 8.59% and a return on equity of 12.27%. The business's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 EPS. Research analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

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.