NewEdge Wealth LLC Buys New Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

NewEdge Wealth LLC bought a new stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 32,533 shares of the company’s stock, valued at approximately $3,570,000. NewEdge Wealth LLC owned approximately 0.05% of Ollie’s Bargain Outlet at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in OLLI. Congress Asset Management Co. increased its position in Ollie’s Bargain Outlet by 181.6% during the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock valued at $210,307,000 after buying an additional 1,235,994 shares in the last quarter. Stephens Investment Management Group LLC acquired a new position in shares of Ollie’s Bargain Outlet in the fourth quarter valued at about $78,356,000. Holocene Advisors LP increased its holdings in shares of Ollie’s Bargain Outlet by 10,159.3% in the third quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock valued at $45,821,000 after purchasing an additional 466,818 shares during the period. Wellington Management Group LLP increased its holdings in shares of Ollie’s Bargain Outlet by 155.8% in the third quarter. Wellington Management Group LLP now owns 483,044 shares of the company’s stock valued at $46,952,000 after purchasing an additional 294,217 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Ollie’s Bargain Outlet in the third quarter valued at about $16,590,000.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $103.51 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $68.05 and a one year high of $120.03. The stock has a market cap of $6.34 billion, a PE ratio of 30.90, a P/E/G ratio of 2.21 and a beta of 0.81. The stock has a 50 day moving average price of $107.72 and a 200 day moving average price of $100.43.

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

Analyst Ratings Changes

OLLI has been the topic of a number of research reports. Truist Financial increased their price objective on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Jefferies Financial Group lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and cut their price objective for the company from $125.00 to $111.00 in a report on Tuesday, February 4th. StockNews.com lowered Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 target price on shares of Ollie’s Bargain Outlet in a report on Monday, December 23rd. Finally, Craig Hallum raised their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $118.07.

Insider Activity at Ollie’s Bargain Outlet

In related news, Director Thomas Hendrickson sold 6,250 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $114.74, for a total value of $717,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John W. Swygert sold 2,400 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were 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 directly owns 48,200 shares of the company’s stock, valued at approximately $4,942,428. This represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,939 shares of company stock valued at $8,745,031. 0.87% of the stock is currently owned by insiders.

Ollie’s Bargain Outlet Profile

Ollie’s Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company’s products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.