Arizona State Retirement System Increases Holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Arizona State Retirement System raised its stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,771 shares of the company’s stock after buying an additional 146 shares during the quarter. Arizona State Retirement System’s holdings in Ollie’s Bargain Outlet were worth $1,950,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of OLLI. Atria Investments Inc boosted its position in shares of Ollie’s Bargain Outlet by 107.6% during the 4th quarter. Atria Investments Inc now owns 31,593 shares of the company’s stock valued at $3,467,000 after acquiring an additional 16,373 shares during the last quarter. Keybank National Association OH purchased a new position in Ollie’s Bargain Outlet during the fourth quarter worth about $806,000. Charles Schwab Investment Management Inc. boosted its holdings in Ollie’s Bargain Outlet by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 756,051 shares of the company’s stock valued at $82,961,000 after purchasing an additional 2,393 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Ollie’s Bargain Outlet by 14.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,098 shares of the company’s stock valued at $120,000 after buying an additional 138 shares during the period. Finally, Norden Group LLC increased its holdings in shares of Ollie’s Bargain Outlet by 44.0% during the 4th quarter. Norden Group LLC now owns 24,868 shares of the company’s stock worth $2,729,000 after buying an additional 7,594 shares during the last quarter.

Ollie’s Bargain Outlet Stock Up 2.3 %

Ollie’s Bargain Outlet stock opened at $101.08 on Wednesday. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $120.03. The firm has a market cap of $6.19 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. The company’s 50 day moving average is $105.75 and its two-hundred day moving average is $101.00.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 million. During the same period last year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America upped their price objective on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Piper Sandler upped their price target 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. StockNews.com downgraded Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. Truist Financial upped their target price on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Craig Hallum lifted their price target on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.29.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, Director Thomas Hendrickson sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $114.74, for a total transaction of $717,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Larry Kraus sold 10,646 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $115.58, for a total transaction of $1,230,464.68. Following the completion of the sale, the senior vice president now directly owns 1,905 shares in the company, valued at approximately $220,179.90. This represents a 84.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.87% of the stock is owned by company insiders.

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.