Zions Bancorporation National Association UT Acquires New Holdings 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 acquired a new stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 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 have also recently bought and sold shares of the company. HM Payson & Co. acquired a new position in shares of Ollie's Bargain Outlet in the 1st quarter valued at approximately $30,000. City Holding Co. acquired a new stake in Ollie's Bargain Outlet in the first quarter valued at approximately $31,000. Putney Financial Group LLC acquired a new stake in Ollie's Bargain Outlet in the fourth quarter valued at approximately $33,000. Opal Wealth Advisors LLC acquired a new stake in Ollie's Bargain Outlet in the first quarter valued at approximately $38,000. Finally, GeoWealth Management LLC acquired a new stake in Ollie's Bargain Outlet in the fourth quarter valued at approximately $38,000.

Analyst Ratings Changes

Several brokerages have issued reports on OLLI. Wall Street Zen upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Truist Financial reaffirmed a "buy" rating and issued a $146.00 price objective (up from $128.00) on shares of Ollie's Bargain Outlet in a research note on Wednesday. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price objective (down from $124.00) on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. JPMorgan Chase & Co. upped their price objective on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, KeyCorp set a $145.00 price objective on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a research note on Thursday, June 26th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Ollie's Bargain Outlet has a consensus rating of "Moderate Buy" and a consensus target price of $128.07.

Ollie's Bargain Outlet Trading Up 1.3%

NASDAQ OLLI traded up $1.67 on Wednesday, hitting $134.58. 376,076 shares of the company were exchanged, compared to its average volume of 1,160,689. The company has a market cap of $8.26 billion, a PE ratio of 41.45, a PEG ratio of 3.04 and a beta of 0.40. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $86.05 and a 12 month high of $141.74. The stock has a fifty day moving average of $128.71 and a 200-day moving average of $115.57.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. The firm had revenue of $576.77 million during 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 revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $0.73 earnings per share. On average, analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Insider Activity

In other 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 directly owned 7,761 shares in the company, valued at $875,828.85. This trade represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is owned by corporate 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.