Kayne Anderson Rudnick Investment Management LLC Acquires 2,948,393 Shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Kayne Anderson Rudnick Investment Management LLC raised its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 173.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,644,774 shares of the company's stock after buying an additional 2,948,393 shares during the period. Ollie's Bargain Outlet comprises about 1.2% of Kayne Anderson Rudnick Investment Management LLC's holdings, making the stock its 28th largest position. Kayne Anderson Rudnick Investment Management LLC owned approximately 7.58% of Ollie's Bargain Outlet worth $509,671,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Barclays PLC boosted its stake in Ollie's Bargain Outlet by 59.2% during the 3rd quarter. Barclays PLC now owns 41,307 shares of the company's stock valued at $4,014,000 after purchasing an additional 15,357 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Ollie's Bargain Outlet during the third quarter valued at approximately $969,000. JPMorgan Chase & Co. grew its holdings in Ollie's Bargain Outlet by 79.6% during the third quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company's stock worth $18,400,000 after buying an additional 83,882 shares in the last quarter. GAMMA Investing LLC raised its position in Ollie's Bargain Outlet by 35.9% in the 4th quarter. GAMMA Investing LLC now owns 885 shares of the company's stock valued at $97,000 after buying an additional 234 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Ollie's Bargain Outlet by 3.1% during the 4th quarter. Nordea Investment Management AB now owns 78,400 shares of the company's stock valued at $8,669,000 after acquiring an additional 2,354 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OLLI. Piper Sandler reduced their target price on shares of Ollie's Bargain Outlet from $126.00 to $124.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. StockNews.com lowered shares of Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research note on Tuesday, February 4th. Morgan Stanley lifted their target price on shares of Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Jefferies Financial Group lowered Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and reduced their target price for the company from $125.00 to $111.00 in a report on Tuesday, February 4th. Finally, Royal Bank of Canada lifted their price target on Ollie's Bargain Outlet from $130.00 to $133.00 and gave the stock an "outperform" rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Ollie's Bargain Outlet presently has an average rating of "Moderate Buy" and a consensus price target of $123.08.

Ollie's Bargain Outlet Stock Up 1.5 %

OLLI traded up $1.55 on Friday, hitting $106.99. The company's stock had a trading volume of 556,683 shares, compared to its average volume of 1,143,442. The company's 50 day simple moving average is $107.02 and its 200-day simple moving average is $104.19. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $70.17 and a 12 month high of $120.03. The firm has a market cap of $6.55 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 2.21 and a beta of 0.75.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company had revenue of $667.10 million during the quarter, compared to analysts' expectations of $674.61 million. During the same quarter last year, the firm posted $1.23 earnings per share. Ollie's Bargain Outlet's revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Transactions at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, CFO Robert F. Helm sold 312 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $107.17, for a total value of $33,437.04. Following the transaction, the chief financial officer now directly owns 3,273 shares in the company, valued at $350,767.41. This represents a 8.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Der Valk Eric Van sold 525 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $112.94, for a total value of $59,293.50. Following the completion of the sale, the chief executive officer now directly owns 6,793 shares in the company, valued at approximately $767,201.42. The trade was a 7.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,897 shares of company stock valued at $4,227,970. 0.87% of the stock is currently owned by company insiders.

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.