Greenwood Capital Associates LLC Reduces Stock Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Greenwood Capital Associates LLC reduced its holdings in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 53.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,474 shares of the company’s stock after selling 4,018 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Ollie’s Bargain Outlet were worth $381,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bank of Montreal Can boosted its stake in Ollie’s Bargain Outlet by 2.4% during the 2nd quarter. Bank of Montreal Can now owns 8,319 shares of the company’s stock valued at $820,000 after acquiring an additional 195 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Ollie’s Bargain Outlet during the second quarter worth about $298,000. SG Americas Securities LLC bought a new position in shares of Ollie’s Bargain Outlet during the third quarter worth about $663,000. Handelsbanken Fonder AB grew its stake in Ollie’s Bargain Outlet by 45.9% in the third quarter. Handelsbanken Fonder AB now owns 19,400 shares of the company’s stock worth $1,886,000 after purchasing an additional 6,100 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Ollie’s Bargain Outlet by 37.9% in the third quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock valued at $63,000 after buying an additional 179 shares during the last quarter.

Analyst Upgrades and Downgrades

OLLI has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 target price on shares of Ollie’s Bargain Outlet in a research report on Monday, December 23rd. Loop Capital boosted their target price on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Craig Hallum raised their price target on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Piper Sandler boosted their price objective on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Citigroup upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and increased their price objective for the stock from $64.00 to $133.00 in a research note on Wednesday, December 18th. One 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.07.

Ollie’s Bargain Outlet Price Performance

Shares of Ollie’s Bargain Outlet stock opened at $105.47 on Wednesday. Ollie’s Bargain Outlet Holdings, Inc. has a 1-year low of $68.05 and a 1-year high of $120.03. The business’s fifty day moving average price is $108.63 and its two-hundred day moving average price is $99.58. The company has a market capitalization of $6.46 billion, a P/E ratio of 31.48, a PEG ratio of 2.76 and a beta of 0.81.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share. On average, research analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John W. Swygert sold 4,800 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $102.60, for a total transaction of $492,480.00. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $4,945,320. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP James J. Comitale sold 5,325 shares of Ollie’s Bargain Outlet stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total value of $606,783.75. Following the transaction, the senior vice president now directly owns 3,140 shares in the company, valued at approximately $357,803. The trade was a 62.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,771 shares of company stock worth $9,650,832 over the last three months. Corporate insiders own 0.87% of the company’s stock.

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.