M&T Bank Corp Has $3.30 Million Stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

M&T Bank Corp cut its stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,058 shares of the company’s stock after selling 989 shares during the period. M&T Bank Corp’s holdings in Ollie’s Bargain Outlet were worth $3,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Royce & Associates LP lifted its holdings in shares of Ollie’s Bargain Outlet by 161.6% in 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 in the last quarter. Oak Thistle LLC bought a new stake in Ollie’s Bargain Outlet in the 4th quarter valued at approximately $1,345,000. JPMorgan Chase & Co. lifted its stake in Ollie’s Bargain Outlet by 79.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company’s stock valued at $18,400,000 after acquiring an additional 83,882 shares in the last quarter. Van ECK Associates Corp boosted its position in Ollie’s Bargain Outlet by 36.5% during the 4th quarter. Van ECK Associates Corp now owns 46,659 shares of the company’s stock worth $5,120,000 after acquiring an additional 12,476 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Ollie’s Bargain Outlet by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock worth $73,256,000 after acquiring an additional 5,438 shares in the last quarter.

Ollie’s Bargain Outlet Price Performance

Shares of Ollie’s Bargain Outlet stock opened at $103.03 on Friday. The business has a fifty day simple moving average of $105.99 and a two-hundred day simple moving average of $100.97. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $68.05 and a 1 year high of $120.03. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 2.21 and a beta of 0.83.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) 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 company had revenue of $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. During the same quarter last year, the company posted $0.51 EPS. Ollie’s Bargain Outlet’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Transactions at Ollie’s Bargain Outlet

In other news, SVP James J. Comitale sold 5,325 shares of Ollie’s Bargain Outlet stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total transaction of $606,783.75. Following the completion of the sale, the senior vice president now owns 3,140 shares of the company’s stock, valued at approximately $357,803. This trade represents a 62.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Hendrickson sold 6,250 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $114.74, for a total transaction of $717,125.00. The disclosure for this sale can be found here. Insiders sold a total of 76,539 shares of company stock worth $8,498,935 over the last quarter. Company insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OLLI. Citigroup raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $64.00 to $133.00 in a research report on Wednesday, December 18th. Bank of America increased their price objective on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Truist Financial lifted their target price on 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. JPMorgan Chase & Co. increased their price target on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, StockNews.com downgraded Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.29.

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.