Vestmark Advisory Solutions Inc. Acquires 30,755 Shares of Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Ollie's Bargain Outlet by 94.5%, now holding approximately $7.36 million worth of shares.
• Analysts have mixed ratings for Ollie's stock, with target prices ranging from $123.00 to $146.00, indicating a general sentiment of Moderate Buy.
• Ollie's recently reported a Q1 EPS of $0.75, exceeding expectations and marking a 13.4% year-over-year revenue increase.

Vestmark Advisory Solutions Inc. lifted its position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 94.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,288 shares of the company's stock after acquiring an additional 30,755 shares during the quarter. Vestmark Advisory Solutions Inc. owned 0.10% of Ollie's Bargain Outlet worth $7,364,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Ollie's Bargain Outlet by 173.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock worth $509,671,000 after buying an additional 2,948,393 shares during the period. Freestone Grove Partners LP purchased a new position in shares of Ollie's Bargain Outlet during the 4th quarter valued at approximately $24,452,000. Royal Bank of Canada lifted its holdings in Ollie's Bargain Outlet by 48.5% in the 4th quarter. Royal Bank of Canada now owns 649,382 shares of the company's stock valued at $71,257,000 after purchasing an additional 212,055 shares in the last quarter. Nuveen LLC purchased a new position in Ollie's Bargain Outlet in the 1st quarter valued at $24,452,000. Finally, Tidal Investments LLC purchased a new position in Ollie's Bargain Outlet in the 4th quarter valued at $21,733,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OLLI. Royal Bank Of Canada reissued an "outperform" rating and set a $133.00 price objective on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price target (down from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price objective on Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a report on Monday, July 21st. KeyCorp set a $145.00 price target on Ollie's Bargain Outlet and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Wall Street Zen upgraded Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $128.07.

Ollie's Bargain Outlet Price Performance

Shares of NASDAQ OLLI traded up $1.62 during trading hours on Friday, hitting $133.52. 1,025,926 shares of the company's stock were exchanged, compared to its average volume of 780,217. The company's 50-day moving average price is $129.75 and its 200-day moving average price is $116.02. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 2.99 and a beta of 0.40. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $86.29 and a 1-year high of $141.74.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.05. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $565.04 million. Ollie's Bargain Outlet had a return on equity of 12.27% and a net margin of 8.59%. Ollie's Bargain Outlet's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 EPS. On average, research analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Insider Buying and Selling

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 stock was sold at an average price of $112.85, for a total value of $82,154.80. Following the sale, the chief executive officer owned 7,761 shares of the company's stock, valued at approximately $875,828.85. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.87% of the company's stock.

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.