First Trust Advisors LP Cuts Stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

First Trust Advisors LP cut its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 24.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,730 shares of the company's stock after selling 29,801 shares during the quarter. First Trust Advisors LP owned approximately 0.15% of Ollie's Bargain Outlet worth $10,175,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Ollie's Bargain Outlet by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company's stock worth $638,843,000 after purchasing an additional 70,496 shares during the period. Congress Asset Management Co. lifted its holdings in Ollie's Bargain Outlet by 181.6% during the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company's stock worth $210,307,000 after buying an additional 1,235,994 shares during the period. Invesco Ltd. boosted its position in Ollie's Bargain Outlet by 1.1% during the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company's stock valued at $180,558,000 after acquiring an additional 17,302 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Ollie's Bargain Outlet by 12.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company's stock valued at $178,813,000 after acquiring an additional 186,313 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Ollie's Bargain Outlet by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,082,660 shares of the company's stock worth $118,837,000 after acquiring an additional 4,116 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Ollie's Bargain Outlet from $130.00 to $133.00 and gave the company an "outperform" rating in a research report on Friday, March 7th. Piper Sandler cut their price objective on shares of Ollie's Bargain Outlet from $126.00 to $124.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. StockNews.com cut shares of Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research report on Tuesday, February 4th. UBS Group lifted their price target on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Finally, Morgan Stanley increased their price objective on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Ollie's Bargain Outlet presently has an average rating of "Moderate Buy" and an average price target of $123.08.

Insiders Place Their Bets

In related news, CFO Robert F. Helm sold 2,145 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $108.50, for a total transaction of $232,732.50. Following the sale, the chief financial officer now directly owns 3,888 shares of the company's stock, valued at approximately $421,848. This represents a 35.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Der Valk Eric Van sold 1,153 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $110.85, for a total transaction of $127,810.05. Following the completion of the transaction, the chief executive officer now owns 6,768 shares of the company's stock, valued at approximately $750,232.80. This trade represents a 14.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,897 shares of company stock valued at $4,227,970. Company insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Trading Up 4.2 %

Shares of OLLI stock traded up $4.42 during mid-day trading on Friday, reaching $110.88. The stock had a trading volume of 1,011,932 shares, compared to its average volume of 1,150,912. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $72.19 and a 1-year high of $120.03. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 2.21 and a beta of 0.45. The business's fifty day moving average is $107.69 and its 200-day moving average is $104.84.

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

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.