Raymond James Financial Inc. Makes New $48.63 Million Investment in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Raymond James Financial Inc. bought a new position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 443,198 shares of the company's stock, valued at approximately $48,633,000. Raymond James Financial Inc. owned 0.72% of Ollie's Bargain Outlet at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Ollie's Bargain Outlet by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company's stock valued at $638,843,000 after acquiring an additional 70,496 shares during the period. Congress Asset Management Co. increased its holdings 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 valued at $210,307,000 after buying an additional 1,235,994 shares in the last quarter. Invesco Ltd. lifted its position in shares of 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 during the period. Alliancebernstein L.P. grew 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 worth $178,813,000 after acquiring an additional 186,313 shares during the period. Finally, Geode Capital Management LLC increased its stake in 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 valued at $118,837,000 after purchasing an additional 4,116 shares in the last quarter.

Ollie's Bargain Outlet Stock Up 1.8 %

Shares of NASDAQ:OLLI traded up $1.98 during trading on Friday, reaching $111.95. The stock had a trading volume of 1,118,807 shares, compared to its average volume of 1,134,524. The stock has a fifty day simple moving average of $106.89 and a two-hundred day simple moving average of $103.96. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 33.42, a P/E/G 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.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported $1.19 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $667.10 million during the quarter, compared to analyst estimates of $674.61 million. During the same quarter in the previous 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. On average, analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Buying and Selling

In other Ollie's Bargain Outlet news, SVP Kevin Mclain sold 4,799 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $115.56, for a total value of $554,572.44. Following the completion of the sale, the senior vice president now directly owns 12,336 shares in the company, valued at $1,425,548.16. This represents a 28.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Der Valk Eric Van sold 1,153 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $110.85, for a total transaction of $127,810.05. Following the sale, the chief executive officer now owns 6,768 shares in the company, valued at approximately $750,232.80. The trade was a 14.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,897 shares of company stock worth $4,227,970 in the last quarter. Insiders own 0.87% of the company's stock.

Analyst Ratings Changes

OLLI has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price target 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. StockNews.com cut Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a report on Tuesday, February 4th. Jefferies Financial Group lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and dropped their price target for the stock from $125.00 to $111.00 in a research report on Tuesday, February 4th. UBS Group raised their price target on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Finally, Morgan Stanley lifted their price objective on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $123.08.

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.