DAVENPORT & Co LLC Acquires New Stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

DAVENPORT & Co LLC acquired a new stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 2,049 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Precision Wealth Strategies LLC raised its stake in Ollie’s Bargain Outlet by 3.2% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,889 shares of the company’s stock valued at $427,000 after purchasing an additional 119 shares during the last quarter. OLD National Bancorp IN grew its holdings in shares of Ollie’s Bargain Outlet by 112.3% during the 4th quarter. OLD National Bancorp IN now owns 5,355 shares of the company’s stock worth $588,000 after purchasing an additional 2,833 shares during the period. Hantz Financial Services Inc. purchased a new position in Ollie’s Bargain Outlet during the 4th quarter valued at about $11,005,000. YHB Investment Advisors Inc. acquired a new stake in Ollie’s Bargain Outlet in the 4th quarter valued at about $201,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter worth about $944,000.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ OLLI opened at $104.71 on Monday. Ollie’s Bargain Outlet Holdings, Inc. has a 1-year low of $68.05 and a 1-year high of $120.03. The business has a 50-day moving average of $109.01 and a 200-day moving average of $99.75. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 31.26, a PEG ratio of 2.33 and a beta of 0.81.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company had revenue of $517.43 million during the quarter, compared to the consensus estimate of $518.83 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. Research analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OLLI. StockNews.com downgraded Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price target on shares of Ollie’s Bargain Outlet in a report on Monday, December 23rd. Wells Fargo & Company upped their target price on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Loop Capital upped their target price on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Finally, Piper Sandler upped their target price on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.07.

Insider Buying and Selling

In related news, SVP Larry Kraus sold 10,646 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $115.58, for a total value of $1,230,464.68. Following the transaction, the senior vice president now owns 1,905 shares in the company, valued at approximately $220,179.90. The trade was a 84.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John W. Swygert sold 4,032 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $102.51, for a total value of $413,320.32. Following the sale, the chief executive officer now owns 48,200 shares in the company, valued at $4,940,982. The trade was a 7.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,771 shares of company stock worth $9,650,832. 0.87% of the stock is currently owned by corporate insiders.

About Ollie’s Bargain Outlet

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.