Summitry LLC Buys New Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Summitry LLC purchased a new stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the fourth quarter, Holdings Channel.com reports. The fund purchased 2,072 shares of the company’s stock, valued at approximately $227,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Ollie’s Bargain Outlet by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company’s stock valued at $638,843,000 after purchasing an additional 70,496 shares during the last quarter. Congress Asset Management Co. increased its stake in Ollie’s Bargain Outlet by 181.6% in the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock valued at $210,307,000 after buying an additional 1,235,994 shares during the last quarter. State Street Corp lifted its position in shares of Ollie’s Bargain Outlet by 2.1% during the 3rd quarter. State Street Corp now owns 1,871,047 shares of the company’s stock worth $181,866,000 after buying an additional 38,203 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Ollie’s Bargain Outlet by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock worth $104,860,000 after buying an additional 9,492 shares during the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of Ollie’s Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock valued at $75,052,000 after acquiring an additional 83,063 shares in the last quarter.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $106.37 on Wednesday. The business’s fifty day moving average is $105.43 and its 200 day moving average is $101.98. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). The firm had revenue of $667.10 million for the quarter, compared to the consensus estimate of $674.61 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. Equities analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert Fisch sold 6,250 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $108.08, for a total transaction of $675,500.00. Following the transaction, the director now owns 22,159 shares in the company, valued at $2,394,944.72. The trade was a 22.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OLLI. Piper Sandler cut their price objective on Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Loop Capital increased their price target on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. UBS Group lifted their price objective on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Wells Fargo & Company increased their target price on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, StockNews.com cut shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.08.

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.