Hsbc Holdings PLC cut its position in Ollie’s Bargain Outlet (NASDAQ:OLLI) by 25.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,380 shares of the company’s stock after selling 1,140 shares during the quarter. Hsbc Holdings PLC’s holdings in Ollie’s Bargain Outlet were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Ollie’s Bargain Outlet by 3.1% in the fourth quarter. BlackRock Inc. now owns 6,057,562 shares of the company’s stock valued at $322,567,000 after purchasing an additional 179,875 shares during the period. Jane Street Group LLC boosted its stake in shares of Ollie’s Bargain Outlet by 198.1% in the fourth quarter. Jane Street Group LLC now owns 16,197 shares of the company’s stock valued at $862,000 after purchasing an additional 10,764 shares during the period. Pinebridge Investments L.P. boosted its stake in shares of Ollie’s Bargain Outlet by 171.2% in the fourth quarter. Pinebridge Investments L.P. now owns 16,534 shares of the company’s stock valued at $880,000 after purchasing an additional 10,437 shares during the period. Sapphire Star Partners LP purchased a new position in shares of Ollie’s Bargain Outlet in the fourth quarter valued at $537,000. Finally, Navellier & Associates Inc purchased a new position in shares of Ollie’s Bargain Outlet in the fourth quarter valued at $201,000. Institutional investors and hedge funds own 90.01% of the company’s stock.
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Several research analysts have recently weighed in on the stock. Bank of America downgraded shares of Ollie’s Bargain Outlet from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $75.50 to $68.00 in a research note on Friday. BidaskClub upgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Loop Capital assumed coverage on shares of Ollie’s Bargain Outlet in a research note on Monday, June 18th. They issued a “hold” rating and a $75.00 target price for the company. Citigroup upped their target price on shares of Ollie’s Bargain Outlet from $43.00 to $46.00 and gave the company a “sell” rating in a research note on Thursday, June 7th. Finally, Royal Bank of Canada upped their target price on shares of Ollie’s Bargain Outlet from $69.00 to $79.00 and gave the company an “outperform” rating in a research note on Thursday, June 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ollie’s Bargain Outlet currently has a consensus rating of “Buy” and a consensus target price of $67.63.
In other Ollie’s Bargain Outlet news, VP Kenneth Robert Bertram sold 7,500 shares of the stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $74.41, for a total transaction of $558,075.00. Following the sale, the vice president now directly owns 25,708 shares of the company’s stock, valued at $1,912,932.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark L. Butler sold 375,000 shares of the stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $74.90, for a total transaction of $28,087,500.00. Following the sale, the chief executive officer now directly owns 3,678,372 shares in the company, valued at $275,510,062.80. The disclosure for this sale can be found here. Insiders have sold a total of 395,167 shares of company stock worth $29,565,706 over the last quarter. 20.27% of the stock is currently owned by insiders.
NASDAQ OLLI opened at $73.80 on Friday. Ollie’s Bargain Outlet has a 12 month low of $38.55 and a 12 month high of $77.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.25 and a current ratio of 2.18. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 59.04, a P/E/G ratio of 1.94 and a beta of 0.18.
Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Tuesday, June 5th. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. Ollie’s Bargain Outlet had a net margin of 12.36% and a return on equity of 12.06%. The firm had revenue of $275.70 million for the quarter, compared to the consensus estimate of $267.27 million. During the same period in the prior year, the firm posted $0.25 EPS. The firm’s revenue was up 21.1% compared to the same quarter last year. research analysts expect that Ollie’s Bargain Outlet will post 1.71 EPS for the current fiscal year.
Ollie’s Bargain Outlet Company Profile
Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise. The company offers food products, housewares, books and stationery, bed and bath products, floor coverings, electronics, and toys; and other products, including hardware, personal health care, candy, clothing, sporting, pet and lawn, and garden products.
