SG Capital Management LLC Decreases Stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

SG Capital Management LLC lowered its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,465 shares of the company's stock after selling 5,821 shares during the period. SG Capital Management LLC owned 0.10% of Ollie's Bargain Outlet worth $6,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in OLLI. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Ollie's Bargain Outlet by 173.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock worth $509,671,000 after buying an additional 2,948,393 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of 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 buying an additional 1,235,994 shares during the last quarter. Norges Bank purchased a new position in shares of Ollie's Bargain Outlet in the fourth quarter worth $80,741,000. Stephens Investment Management Group LLC purchased a new position in shares of Ollie's Bargain Outlet in the fourth quarter worth $78,356,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Ollie's Bargain Outlet in the fourth quarter worth $48,633,000.

Ollie's Bargain Outlet Price Performance

OLLI stock traded up $1.89 during midday trading on Monday, hitting $120.75. 1,397,272 shares of the stock traded hands, compared to its average volume of 1,158,373. The firm has a market cap of $7.41 billion, a P/E ratio of 36.04, a PEG ratio of 2.21 and a beta of 0.45. The stock's fifty day simple moving average is $109.98 and its 200-day simple moving average is $106.47. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $72.22 and a 1-year high of $123.95.

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

Wall Street Analyst Weigh In

OLLI has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on shares of 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. JPMorgan Chase & Co. increased their price objective on shares of Ollie's Bargain Outlet from $135.00 to $137.00 and gave the stock an "overweight" rating in a research note on Monday. Jefferies Financial Group lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and cut their price objective for the stock from $125.00 to $111.00 in a research note on Tuesday, February 4th. StockNews.com upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, 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 note on Thursday, March 20th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $123.23.

Insider Buying and Selling at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, SVP Kevin Mclain sold 4,799 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $115.56, for a total transaction of $554,572.44. Following the transaction, the senior vice president now directly owns 12,336 shares of the company's stock, valued at $1,425,548.16. This trade represents a 28.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the chief financial officer now directly owns 3,888 shares in the company, valued at approximately $421,848. The trade was a 35.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,897 shares of company stock valued at $4,227,970 over the last ninety days. Corporate insiders own 0.75% of the company's stock.

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.