Grantham Mayo Van Otterloo & Co. LLC Sells 61,899 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Grantham Mayo Van Otterloo & Co. LLC reduced its position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,382 shares of the company’s stock after selling 61,899 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.48% of Ollie’s Bargain Outlet worth $32,083,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Ollie’s Bargain Outlet by 489.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock worth $25,000 after purchasing an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Ollie’s Bargain Outlet by 337.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock worth $26,000 after buying an additional 182 shares in the last quarter. Bogart Wealth LLC purchased a new stake in Ollie’s Bargain Outlet in the 4th quarter valued at $26,000. Blue Trust Inc. lifted its stake in Ollie’s Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after acquiring an additional 101 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in Ollie’s Bargain Outlet during the 4th quarter worth $33,000.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of 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. Bank of America lifted their target price on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Morgan Stanley upped their target price on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Piper Sandler dropped their price target on Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Finally, Craig Hallum upped their price objective on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.08.

Ollie’s Bargain Outlet Stock Down 3.6 %

NASDAQ OLLI opened at $113.29 on Friday. The firm has a market cap of $6.94 billion, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. The company’s 50 day moving average is $106.42 and its 200-day moving average is $102.93. Ollie’s Bargain Outlet Holdings, Inc. has a 12-month low of $70.17 and a 12-month high of $120.03.

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

Insider Buying and Selling

In other news, SVP James J. Comitale sold 5,485 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $113.53, for a total value of $622,712.05. Following the transaction, the senior vice president now owns 4,621 shares of the company’s stock, valued at approximately $524,622.13. This represents a 54.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Der Valk Eric Van sold 525 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $112.94, for a total value of $59,293.50. Following the completion of the sale, the chief executive officer now owns 6,793 shares in the company, valued at $767,201.42. This trade represents a 7.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,254 shares of company stock valued at $3,812,800. Corporate insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet Profile

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.