Los Angeles Capital Management LLC Purchases 372,914 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Los Angeles Capital Management LLC raised its holdings in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 199.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 560,054 shares of the company’s stock after purchasing an additional 372,914 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ollie’s Bargain Outlet were worth $54,981,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Ollie’s Bargain Outlet by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 5,882,908 shares of the company’s stock valued at $468,103,000 after purchasing an additional 343,903 shares during the period. Wasatch Advisors LP increased its position in shares of Ollie’s Bargain Outlet by 4.1% during the first quarter. Wasatch Advisors LP now owns 3,917,575 shares of the company’s stock valued at $311,721,000 after buying an additional 156,095 shares during the period. Capital Research Global Investors bought a new stake in shares of Ollie’s Bargain Outlet during the first quarter valued at about $136,978,000. Norges Bank purchased a new stake in shares of Ollie’s Bargain Outlet in the fourth quarter worth about $59,215,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Ollie’s Bargain Outlet by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 735,621 shares of the company’s stock valued at $55,826,000 after acquiring an additional 13,181 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on OLLI shares. Craig Hallum upped their price target on shares of Ollie’s Bargain Outlet from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Loop Capital upped their target price on Ollie’s Bargain Outlet from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Royal Bank of Canada dropped their price target on Ollie’s Bargain Outlet from $101.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Truist Financial upped their price objective on shares of Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, StockNews.com downgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.33.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI traded down $0.43 on Friday, reaching $87.31. The stock had a trading volume of 990,059 shares, compared to its average volume of 1,038,620. Ollie’s Bargain Outlet Holdings, Inc. has a 12-month low of $68.05 and a 12-month high of $104.98. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 2.43 and a beta of 0.84. The company has a 50-day simple moving average of $95.76 and a 200-day simple moving average of $84.93.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its earnings results on Thursday, August 29th. The company reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The business had revenue of $578.38 million during the quarter, compared to the consensus estimate of $561.60 million. During the same quarter last year, the firm earned $0.67 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.27 EPS for the current fiscal year.

Insider Activity

In other Ollie’s Bargain Outlet news, Director Thomas Hendrickson sold 4,500 shares of Ollie’s Bargain Outlet stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $97.54, for a total value of $438,930.00. Following the completion of the transaction, the director now directly owns 5,659 shares of the company’s stock, valued at $551,978.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 2,153 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total transaction of $224,278.01. Following the transaction, the senior vice president now owns 2,732 shares in the company, valued at approximately $284,592.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Hendrickson sold 4,500 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $97.54, for a total transaction of $438,930.00. Following the sale, the director now directly owns 5,659 shares in the company, valued at approximately $551,978.86. The disclosure for this sale can be found here. 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.