Harbor Capital Advisors Inc. Acquires New Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Harbor Capital Advisors Inc. bought a new position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,673 shares of the company’s stock, valued at approximately $2,049,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OLLI. Trust Point Inc. raised its stake in shares of Ollie’s Bargain Outlet by 1.0% in the third quarter. Trust Point Inc. now owns 13,184 shares of the company’s stock valued at $1,281,000 after acquiring an additional 134 shares in the last quarter. FORA Capital LLC raised its position in Ollie’s Bargain Outlet by 3.2% in the 3rd quarter. FORA Capital LLC now owns 4,800 shares of the company’s stock valued at $467,000 after purchasing an additional 148 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Ollie’s Bargain Outlet by 37.9% during the third quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock worth $63,000 after buying an additional 179 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Ollie’s Bargain Outlet by 5.6% during the third quarter. Farther Finance Advisors LLC now owns 3,544 shares of the company’s stock worth $344,000 after buying an additional 188 shares during the period. Finally, Bank of Montreal Can lifted its stake in Ollie’s Bargain Outlet by 2.4% in the second quarter. Bank of Montreal Can now owns 8,319 shares of the company’s stock worth $820,000 after acquiring an additional 195 shares during the last quarter.

Ollie’s Bargain Outlet Stock Up 1.8 %

Shares of OLLI stock opened at $106.36 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $120.03. The stock’s 50-day moving average price is $103.89 and its 200 day moving average price is $98.54. The stock has a market capitalization of $6.52 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 2.79 and a beta of 0.82.

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

Insider Activity

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 2,400 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $102.54, for a total value of $246,096.00. Following the completion of the sale, the chief executive officer now owns 48,200 shares of the company’s stock, valued at approximately $4,942,428. This trade represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert F. Helm sold 2,401 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total transaction of $227,326.68. Following the transaction, the chief financial officer now directly owns 2,021 shares in the company, valued at approximately $191,348.28. This trade represents a 54.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,172 shares of company stock valued at $9,878,158 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OLLI. JPMorgan Chase & Co. raised their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Bank of America raised their price target on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Monday, December 23rd. Citigroup upgraded Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their target price for the stock from $64.00 to $133.00 in a research note on Wednesday, December 18th. Finally, Craig Hallum increased 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 note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Ollie’s Bargain Outlet presently has an average rating of “Moderate Buy” and a consensus target price of $118.62.

Ollie’s Bargain Outlet Company 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.