Zions Bancorporation National Association UT Takes Position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Key Points

• Zions Bancorporation National Association UT has acquired a new stake in Ollie's Bargain Outlet Holdings, Inc., purchasing 36,071 shares valued at approximately $4.20 million.
• Multiple institutional investors, including Kayne Anderson Rudnick Investment Management LLC and Royal Bank of Canada, have increased their positions in Ollie's, reflecting strong institutional interest.
• The average Wall Street rating for Ollie's Bargain Outlet is a "Moderate Buy" with an average price target of $126.79, indicating positive sentiment among analysts despite varied ratings from different firms.

Zions Bancorporation National Association UT purchased a new stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 36,071 shares of the company's stock, valued at approximately $4,197,000. Zions Bancorporation National Association UT owned 0.06% of Ollie's Bargain Outlet as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Next Century Growth Investors LLC boosted its holdings in shares of Ollie's Bargain Outlet by 27.6% in the fourth quarter. Next Century Growth Investors LLC now owns 162,136 shares of the company's stock valued at $17,791,000 after buying an additional 35,075 shares during the period. Caxton Associates LP acquired a new position in shares of Ollie's Bargain Outlet in the fourth quarter valued at approximately $438,000. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Ollie's Bargain Outlet by 85.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,800 shares of the company's stock valued at $636,000 after buying an additional 2,668 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Ollie's Bargain Outlet by 63.8% in the first quarter. Teacher Retirement System of Texas now owns 11,711 shares of the company's stock valued at $1,363,000 after buying an additional 4,563 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Ollie's Bargain Outlet by 1.1% in the fourth quarter. Invesco Ltd. now owns 1,645,472 shares of the company's stock valued at $180,558,000 after buying an additional 17,302 shares during the period.

Analyst Ratings Changes

Several research firms have recently weighed in on OLLI. 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 report on Wednesday, June 4th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $133.00 price target on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Wall Street Zen upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. increased their target price on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, Loop Capital cut shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 target price for the company. in a report on Tuesday, June 24th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Ollie's Bargain Outlet currently has a consensus rating of "Moderate Buy" and an average target price of $126.79.

Ollie's Bargain Outlet Stock Down 1.7%

Shares of OLLI traded down $2.23 during trading hours on Tuesday, hitting $132.91. The company had a trading volume of 710,356 shares, compared to its average volume of 1,165,995. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 40.90, a PEG ratio of 3.04 and a beta of 0.40. The business has a fifty day moving average of $128.25 and a 200-day moving average of $115.45. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $86.05 and a 12 month 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, beating the consensus estimate of $0.70 by $0.05. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The business had revenue of $576.77 million for the quarter, compared to the consensus estimate of $565.04 million. During the same period in the prior year, the company posted $0.73 earnings per share. Ollie's Bargain Outlet's revenue was up 13.4% compared to the same quarter last year. On average, equities analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Transactions at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 728 shares of the 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 sale, the chief executive officer directly owned 7,761 shares in the company, valued at $875,828.85. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.87% of the stock is owned by insiders.

About Ollie's Bargain Outlet

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.