Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. boosted its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 181.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,916,584 shares of the company’s stock after acquiring an additional 1,235,994 shares during the period. Ollie’s Bargain Outlet comprises 1.4% of Congress Asset Management Co.’s holdings, making the stock its 5th biggest position. Congress Asset Management Co.’s holdings in Ollie’s Bargain Outlet were worth $210,307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Rhumbline Advisers raised its stake in Ollie’s Bargain Outlet by 2.3% in the 4th quarter. Rhumbline Advisers now owns 163,565 shares of the company’s stock worth $17,948,000 after purchasing an additional 3,691 shares in the last quarter. Blue Trust Inc. raised its position in shares of Ollie’s Bargain Outlet by 55.2% in the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after buying an additional 101 shares in the last quarter. Bogart Wealth LLC acquired a new position in shares of Ollie’s Bargain Outlet in the 4th quarter valued at approximately $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Ollie’s Bargain Outlet in the 4th quarter valued at approximately $1,279,000. Finally, Van ECK Associates Corp raised its position in shares of Ollie’s Bargain Outlet by 36.5% in the 4th quarter. Van ECK Associates Corp now owns 46,659 shares of the company’s stock valued at $5,120,000 after buying an additional 12,476 shares in the last quarter.

Ollie’s Bargain Outlet Price Performance

OLLI opened at $108.35 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a fifty-two week low of $68.05 and a fifty-two week high of $120.03. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.33 and a beta of 0.81. The company’s 50 day moving average price is $109.50 and its two-hundred day moving average price is $99.99.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm had revenue of $517.43 million for the quarter, compared to analyst estimates of $518.83 million. During the same period in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Activity

In other 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 sale, the senior vice president now directly owns 1,905 shares of the company’s stock, valued at approximately $220,179.90. This represents a 84.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John W. Swygert sold 54,318 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $109.44, for a total transaction of $5,944,561.92. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $5,275,008. This represents a 52.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,771 shares of company stock valued at $9,650,832. 0.87% of the stock is currently owned by insiders.

Analysts Set New Price Targets

OLLI has been the subject of several analyst reports. Truist Financial boosted their target price on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Jefferies Financial Group cut shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and dropped their target price for the company from $125.00 to $111.00 in a research report on Tuesday, February 4th. Citigroup upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their target price for the company from $64.00 to $133.00 in a research report on Wednesday, December 18th. Piper Sandler upped their price objective on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.07.

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.