VELA Investment Management LLC Reduces Stock Position in Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• VELA Investment Management LLC has decreased its holdings in Ollie's Bargain Outlet by 38.5%, now owning 8,396 shares worth approximately $1.1 million.
• Despite the stock's fluctuation, Ollie's reported a 17.5% year-over-year increase in quarterly revenue, achieving $679.56 million with an earnings per share of $0.99 which exceeds analysts' expectations.
• Several analysts have raised their price targets for Ollie's shares, with a consensus target now set at $144.15, reflecting a generally positive outlook from research firms.

VELA Investment Management LLC lowered its holdings in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 38.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,396 shares of the company's stock after selling 5,246 shares during the quarter. VELA Investment Management LLC's holdings in Ollie's Bargain Outlet were worth $1,106,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of OLLI. HM Payson & Co. purchased a new position in Ollie's Bargain Outlet during the 1st quarter valued at $30,000. Maseco LLP purchased a new position in Ollie's Bargain Outlet during the 2nd quarter valued at $36,000. Brooklyn Investment Group boosted its holdings in Ollie's Bargain Outlet by 133.5% during the 1st quarter. Brooklyn Investment Group now owns 390 shares of the company's stock valued at $45,000 after acquiring an additional 223 shares during the period. Blue Trust Inc. boosted its holdings in Ollie's Bargain Outlet by 77.5% during the 1st quarter. Blue Trust Inc. now owns 504 shares of the company's stock valued at $59,000 after acquiring an additional 220 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Ollie's Bargain Outlet by 58.8% in the 1st quarter. GAMMA Investing LLC now owns 1,405 shares of the company's stock worth $163,000 after buying an additional 520 shares during the period.

Ollie's Bargain Outlet Price Performance

Shares of NASDAQ OLLI opened at $123.13 on Friday. The stock has a market capitalization of $7.55 billion, a P/E ratio of 35.69, a price-to-earnings-growth ratio of 2.58 and a beta of 0.42. 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 fifty day moving average price of $131.26 and a 200 day moving average price of $123.76.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.08. The firm had revenue of $679.56 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS. 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.

Wall Street Analyst Weigh In

OLLI has been the topic of a number of recent research reports. Craig Hallum set a $156.00 price target on Ollie's Bargain Outlet in a research report on Friday, August 29th. Wells Fargo & Company increased their price target on Ollie's Bargain Outlet from $105.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Friday, August 29th. UBS Group increased their price target on Ollie's Bargain Outlet from $125.00 to $140.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Citigroup reissued a "buy" rating on shares of Ollie's Bargain Outlet in a research report on Friday, August 29th. Finally, KeyCorp increased their price target on Ollie's Bargain Outlet from $145.00 to $154.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $144.15.

Insider Buying and Selling

In related news, SVP James J. Comitale sold 2,117 shares of the company'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 completion of the sale, the senior vice president directly owned 2,504 shares in the company, valued at $325,520. This represents a 45.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Der Valk Eric Van sold 4,000 shares of the company's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $132.27, for a total value of $529,080.00. Following the sale, the chief executive officer owned 7,761 shares of the company's stock, valued at $1,026,547.47. This trade represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,255 shares of company stock valued at $16,606,864. Company insiders own 0.75% of the company's stock.

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.

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