Alberta Investment Management Corp Lowers Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Alberta Investment Management Corp trimmed its holdings in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 14.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,387 shares of the company’s stock after selling 6,244 shares during the quarter. Alberta Investment Management Corp owned 0.06% of Ollie’s Bargain Outlet worth $4,212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Congress Asset Management Co. increased its position in shares of Ollie’s Bargain Outlet by 181.6% during the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock valued at $210,307,000 after acquiring an additional 1,235,994 shares during the last quarter. State Street Corp boosted its position in shares of Ollie’s Bargain Outlet by 2.1% during the 3rd quarter. State Street Corp now owns 1,871,047 shares of the company’s stock worth $181,866,000 after purchasing an additional 38,203 shares during the period. Geode Capital Management LLC increased its holdings in Ollie’s Bargain Outlet by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock valued at $104,860,000 after purchasing an additional 9,492 shares during the last quarter. Geneva Capital Management LLC raised its position in Ollie’s Bargain Outlet by 1.3% in the third quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company’s stock valued at $102,106,000 after purchasing an additional 13,369 shares during the period. Finally, Fred Alger Management LLC lifted its stake in Ollie’s Bargain Outlet by 12.1% during the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after purchasing an additional 83,063 shares in the last quarter.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $102.51 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $68.05 and a 1 year high of $120.03. The stock has a market cap of $6.28 billion, a P/E ratio of 30.60, a P/E/G ratio of 2.36 and a beta of 0.81. The stock has a 50-day simple moving average of $109.36 and a 200-day simple moving average of $100.23.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced 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. The company had revenue of $517.43 million for the quarter, compared to analyst estimates of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. On average, equities research analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Loop Capital increased their target price on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. increased their price target on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Wells Fargo & Company lifted their price objective on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Craig Hallum increased their target price on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Citigroup upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their price target 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 issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.07.

Insider Activity at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, SVP Larry Kraus sold 10,646 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $115.58, for a total value of $1,230,464.68. Following the completion of the transaction, the senior vice president now owns 1,905 shares in the company, valued at $220,179.90. This represents a 84.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas Hendrickson sold 6,250 shares of the firm’s 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 disclosure for this sale can be found here. Insiders have sold 87,771 shares of company stock valued at $9,650,832 in the last ninety days. Insiders own 0.87% of the company’s stock.

About Ollie’s Bargain Outlet

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.