Millrace Asset Group Inc. Sells 15,250 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Millrace Asset Group Inc. reduced its position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 72.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,757 shares of the company’s stock after selling 15,250 shares during the quarter. Millrace Asset Group Inc.’s holdings in Ollie’s Bargain Outlet were worth $560,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of OLLI. Royce & Associates LP lifted its position in Ollie’s Bargain Outlet by 161.6% during the third quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock valued at $7,349,000 after purchasing an additional 46,706 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Ollie’s Bargain Outlet by 953.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock valued at $55,637,000 after acquiring an additional 512,928 shares during the last quarter. King Luther Capital Management Corp grew its position in Ollie’s Bargain Outlet by 36.0% in the second quarter. King Luther Capital Management Corp now owns 109,827 shares of the company’s stock worth $10,782,000 after acquiring an additional 29,061 shares in the last quarter. Van ECK Associates Corp bought a new stake in Ollie’s Bargain Outlet during the second quarter worth approximately $2,397,000. Finally, Emerald Mutual Fund Advisers Trust raised its position in Ollie’s Bargain Outlet by 20.4% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 178,567 shares of the company’s stock valued at $17,530,000 after purchasing an additional 30,217 shares during the period.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, CFO Robert F. Helm sold 2,401 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $94.68, for a total transaction of $227,326.68. Following the completion of the sale, the chief financial officer now directly owns 2,021 shares of the company’s stock, valued at approximately $191,348.28. This represents a 54.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin Mclain sold 15,000 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the completion of the transaction, the senior vice president now directly owns 10,610 shares in the company, valued at approximately $1,050,283.90. The trade was a 58.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,880 shares of company stock worth $2,462,470 over the last 90 days. Company insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet Trading Up 6.3 %

Shares of Ollie’s Bargain Outlet stock opened at $100.58 on Tuesday. Ollie’s Bargain Outlet Holdings, Inc. has a 12 month low of $68.05 and a 12 month high of $104.98. The stock’s fifty day moving average price is $94.79 and its 200-day moving average price is $92.49. The firm has a market cap of $6.17 billion, a P/E ratio of 30.66, a P/E/G ratio of 2.35 and a beta of 0.84.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.78 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $561.60 million. During the same quarter in the previous year, the business posted $0.67 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.27 earnings per share for the current year.

Analysts Set New Price Targets

OLLI has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $107.00 target price on shares of Ollie’s Bargain Outlet in a report on Friday, October 4th. StockNews.com cut shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their price target on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Bank of America upped their target price on Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Loop Capital reissued a “buy” rating and set a $110.00 price target on shares of Ollie’s Bargain Outlet in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Ollie’s Bargain Outlet currently has an average rating of “Moderate Buy” and a consensus price target of $104.92.

Ollie’s Bargain Outlet 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.