Price T Rowe Associates Inc. MD Cuts Stock Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Price T Rowe Associates Inc. MD reduced its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 9.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 321,094 shares of the company's stock after selling 32,076 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.52% of Ollie's Bargain Outlet worth $35,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in OLLI. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 2,948,393 shares during the last quarter. Congress Asset Management Co. grew its stake in Ollie's Bargain Outlet by 181.6% in the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company's stock worth $210,307,000 after purchasing an additional 1,235,994 shares in the last quarter. Norges Bank bought a new stake in Ollie's Bargain Outlet during the 4th quarter valued at $80,741,000. Stephens Investment Management Group LLC bought a new stake in Ollie's Bargain Outlet during the 4th quarter valued at $78,356,000. Finally, Raymond James Financial Inc. bought a new stake in Ollie's Bargain Outlet during the 4th quarter valued at $48,633,000.

Ollie's Bargain Outlet Stock Up 0.6 %

Shares of OLLI opened at $106.11 on Thursday. The company has a market capitalization of $6.50 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.75. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $70.17 and a 52-week high of $120.03. The stock has a fifty day simple moving average of $107.25 and a two-hundred day simple moving average of $104.51.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OLLI. 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. Royal Bank of Canada lifted their price objective on Ollie's Bargain Outlet from $130.00 to $133.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Piper Sandler reduced their price objective on 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. UBS Group raised their target price on Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Finally, StockNews.com cut Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $123.08.

Insider Activity

In other news, CEO Der Valk Eric Van sold 1,153 shares of Ollie's Bargain Outlet stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $110.85, for a total value of $127,810.05. Following the completion of the transaction, the chief executive officer now owns 6,768 shares in the company, valued at approximately $750,232.80. This trade represents a 14.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP James J. Comitale sold 5,485 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $113.53, for a total value of $622,712.05. Following the sale, the senior vice president now directly owns 4,621 shares in the company, valued at $524,622.13. This trade represents a 54.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,897 shares of company stock worth $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.

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