Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 14.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,349 shares of the company’s stock after selling 2,842 shares during the quarter. Truist Financial Corp’s holdings in Ollie’s Bargain Outlet were worth $1,605,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sei Investments Co. lifted its position in Ollie’s Bargain Outlet by 15.3% in the 1st quarter. Sei Investments Co. now owns 207,554 shares of the company’s stock valued at $16,515,000 after purchasing an additional 27,531 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in Ollie’s Bargain Outlet during the 1st quarter worth about $1,621,000. Axxcess Wealth Management LLC purchased a new position in Ollie’s Bargain Outlet during the first quarter valued at approximately $841,000. Meeder Asset Management Inc. purchased a new position in shares of Ollie’s Bargain Outlet during the 1st quarter valued at $529,000. Finally, Capstone Investment Advisors LLC grew its stake in Ollie’s Bargain Outlet by 191.4% in the first quarter. Capstone Investment Advisors LLC now owns 33,232 shares of the company’s stock valued at $2,644,000 after purchasing an additional 21,826 shares in the last quarter.

Insiders Place Their Bets

In other news, President Der Valk Eric Van sold 7,479 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $100.32, for a total transaction of $750,293.28. Following the completion of the sale, the president now owns 5,615 shares of the company’s stock, valued at $563,296.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP James J. Comitale sold 2,153 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $104.17, for a total transaction of $224,278.01. Following the sale, the senior vice president now owns 2,732 shares in the company, valued at approximately $284,592.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Der Valk Eric Van sold 7,479 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $100.32, for a total value of $750,293.28. Following the sale, the president now owns 5,615 shares in the company, valued at approximately $563,296.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,632 shares of company stock worth $2,459,421 over the last ninety days. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com downgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Saturday, October 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $107.00 target price on shares of Ollie’s Bargain Outlet in a report on Friday, October 4th. Gordon Haskett raised shares of Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and upped their price objective for the company from $105.00 to $107.00 in a research report on Monday, August 26th. Bank of America upped their target price on Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada increased their price target on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.92.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $96.09 on Friday. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.34 and a beta of 0.84. The stock’s fifty day moving average price is $94.77 and its two-hundred day moving average price is $88.32. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $104.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The company had revenue of $578.38 million during the quarter, compared to analysts’ expectations of $561.60 million. During the same period in the prior year, the business posted $0.67 EPS. Ollie’s Bargain Outlet’s revenue was up 12.4% on a year-over-year basis. On average, equities analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.28 EPS for the current fiscal year.

Ollie’s Bargain Outlet Profile

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.