Royce & Associates LP Buys 46,706 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Royce & Associates LP boosted its stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 161.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,605 shares of the company’s stock after buying an additional 46,706 shares during the period. Royce & Associates LP’s holdings in Ollie’s Bargain Outlet were worth $7,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Ollie’s Bargain Outlet by 6.2% during the first 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 in the last quarter. Capital Research Global Investors bought a new stake in shares of Ollie’s Bargain Outlet in the first quarter worth about $136,978,000. Geneva Capital Management LLC increased its stake in Ollie’s Bargain Outlet by 1.3% during the third quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company’s stock worth $102,106,000 after acquiring an additional 13,369 shares during the last quarter. American Century Companies Inc. increased its stake in Ollie’s Bargain Outlet by 5.6% during the second quarter. American Century Companies Inc. now owns 780,064 shares of the company’s stock worth $76,579,000 after acquiring an additional 41,605 shares during the last quarter. Finally, Congress Asset Management Co. increased its stake in Ollie’s Bargain Outlet by 12.1% during the third quarter. Congress Asset Management Co. now owns 680,590 shares of the company’s stock worth $66,153,000 after acquiring an additional 73,396 shares during the last quarter.

Ollie’s Bargain Outlet Price Performance

OLLI stock opened at $91.93 on Monday. The company’s 50 day simple moving average is $95.31 and its 200-day simple moving average is $92.04. The firm has a market capitalization of $5.64 billion, a PE ratio of 28.03, a P/E/G ratio of 2.29 and a beta of 0.84. Ollie’s Bargain Outlet Holdings, Inc. has a 12 month low of $68.05 and a 12 month high of $104.98.

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

Wall Street Analyst Weigh In

OLLI has been the subject of several recent analyst reports. UBS Group boosted their target price on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Royal Bank of Canada boosted their price objective on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Piper Sandler reissued an “overweight” rating and issued a $107.00 target price on shares of Ollie’s Bargain Outlet in a research report on Friday, October 4th. Finally, Loop Capital reissued a “buy” rating and issued a $110.00 target price on shares of Ollie’s Bargain Outlet in a research report on Friday, September 20th. One equities research 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 presently has an average rating of “Moderate Buy” and an average target price of $104.92.

Insider Activity

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

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.