Point72 Hong Kong Ltd Makes New Investment in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Point72 Hong Kong Ltd purchased a new position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) during the third quarter, Holdings Channel.com reports. The fund purchased 6,853 shares of the company’s stock, valued at approximately $666,000.

Other hedge funds have also made changes to their positions in the company. Royce & Associates LP lifted its stake in Ollie’s Bargain Outlet by 161.6% in the third quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock valued at $7,349,000 after buying an additional 46,706 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ollie’s Bargain Outlet by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock valued at $73,256,000 after acquiring an additional 5,438 shares in the last quarter. Fred Alger Management LLC boosted its position in Ollie’s Bargain Outlet by 12.1% during the 3rd quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after acquiring an additional 83,063 shares during the period. Hancock Whitney Corp bought a new position in shares of Ollie’s Bargain Outlet in the third quarter worth $988,000. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Ollie’s Bargain Outlet by 953.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock valued at $55,637,000 after purchasing an additional 512,928 shares in the last quarter.

Insider Transactions at Ollie’s Bargain Outlet

In related news, CFO Robert F. Helm sold 2,401 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 2,021 shares in the company, valued at $191,348.28. This represents a 54.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin Mclain sold 15,000 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.99, for a total value of $1,484,850.00. Following the completion of the transaction, the senior vice president now directly owns 10,610 shares in the company, valued at approximately $1,050,283.90. This represents a 58.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,712 shares of company stock worth $3,368,270. 0.87% of the stock is owned by insiders.

Ollie’s Bargain Outlet Stock Performance

OLLI opened at $99.87 on Tuesday. Ollie’s Bargain Outlet Holdings, Inc. has a twelve month low of $68.05 and a twelve month high of $104.98. The business has a 50 day moving average price of $94.95 and a 200 day moving average price of $93.56. The firm has a market cap of $6.13 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 2.46 and a beta of 0.84.

Analyst Ratings Changes

Several research firms have recently issued reports on OLLI. UBS Group increased their price objective on shares of Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Piper Sandler reissued an “overweight” rating and issued a $107.00 target price on shares of Ollie’s Bargain Outlet in a research report on Friday, October 4th. Bank of America raised their price objective on shares of Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. cut their target price on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, StockNews.com cut Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.92.

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.