Seven Eight Capital LP Grows Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Seven Eight Capital LP increased its position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 178.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 9,592 shares of the company’s stock after buying an additional 6,151 shares during the quarter. Seven Eight Capital LP’s holdings in Ollie’s Bargain Outlet were worth $763,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in OLLI. Norges Bank purchased a new position in Ollie’s Bargain Outlet during the 4th quarter worth approximately $59,215,000. Vanguard Group Inc. grew its stake in Ollie’s Bargain Outlet by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 5,882,908 shares of the company’s stock worth $468,103,000 after buying an additional 343,903 shares during the last quarter. Wasatch Advisors LP grew its stake in Ollie’s Bargain Outlet by 5.2% during the 4th quarter. Wasatch Advisors LP now owns 3,761,480 shares of the company’s stock worth $285,459,000 after buying an additional 184,864 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Ollie’s Bargain Outlet by 6,328.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 187,140 shares of the company’s stock worth $14,891,000 after buying an additional 184,229 shares during the last quarter. Finally, Moran Wealth Management LLC purchased a new position in Ollie’s Bargain Outlet during the 4th quarter worth approximately $10,686,000.

Ollie’s Bargain Outlet Trading Up 0.1 %

Shares of OLLI traded up $0.12 during mid-day trading on Tuesday, hitting $99.08. The company’s stock had a trading volume of 777,777 shares, compared to its average volume of 1,012,407. The firm has a 50-day simple moving average of $90.42 and a 200 day simple moving average of $80.55. The firm has a market capitalization of $6.06 billion, a P/E ratio of 31.26, a P/E/G ratio of 2.72 and a beta of 0.90. Ollie’s Bargain Outlet Holdings, Inc. has a 1-year low of $68.05 and a 1-year high of $104.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings data on Wednesday, June 5th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. The firm had revenue of $508.82 million during the quarter, compared to analysts’ expectations of $506.49 million. Ollie’s Bargain Outlet had a return on equity of 13.22% and a net margin of 9.14%. Ollie’s Bargain Outlet’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. As a group, sell-side analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

OLLI has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on Ollie’s Bargain Outlet from $86.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. raised Ollie’s Bargain Outlet from a “neutral” rating to an “overweight” rating and set a $105.00 price objective for the company in a research report on Monday, June 17th. Bank of America increased their price objective on Ollie’s Bargain Outlet from $92.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Piper Sandler increased their price objective on Ollie’s Bargain Outlet from $100.00 to $107.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 25th. Finally, Morgan Stanley increased their price objective on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 6th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.08.

Insider Buying and Selling

In related news, CEO John W. Swygert sold 14,736 shares of Ollie’s Bargain Outlet stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $86.81, for a total transaction of $1,279,232.16. Following the completion of the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $4,184,242. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Ollie’s Bargain Outlet news, President Der Valk Eric Van sold 1,438 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $129,420.00. Following the completion of the transaction, the president now owns 4,158 shares of the company’s stock, valued at $374,220. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John W. Swygert sold 14,736 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $86.81, for a total value of $1,279,232.16. Following the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at approximately $4,184,242. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,537 shares of company stock valued at $3,074,765. 0.87% of the stock is owned by insiders.

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.