New York State Common Retirement Fund grew its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 11.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,189 shares of the company’s stock after buying an additional 8,000 shares during the period. New York State Common Retirement Fund owned 0.12% of Ollie’s Bargain Outlet worth $6,410,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of OLLI. Assenagon Asset Management S.A. acquired a new stake in shares of Ollie’s Bargain Outlet in the first quarter valued at about $469,000. State of New Jersey Common Pension Fund D raised its position in shares of Ollie’s Bargain Outlet by 3.4% in the first quarter. State of New Jersey Common Pension Fund D now owns 37,595 shares of the company’s stock valued at $3,271,000 after buying an additional 1,238 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Ollie’s Bargain Outlet in the first quarter valued at about $96,000. Meeder Asset Management Inc. increased its position in Ollie’s Bargain Outlet by 1,573.3% during the first quarter. Meeder Asset Management Inc. now owns 502 shares of the company’s stock worth $44,000 after purchasing an additional 472 shares during the last quarter. Finally, Cozad Asset Management Inc. acquired a new stake in Ollie’s Bargain Outlet during the first quarter worth about $492,000. Institutional investors and hedge funds own 91.98% of the company’s stock.
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NASDAQ OLLI opened at $71.75 on Friday. The firm has a 50 day simple moving average of $86.16 and a 200-day simple moving average of $87.10. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $65.32 and a one year high of $123.52. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.88 and a beta of 1.24.
Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Wednesday, August 25th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.03). Ollie’s Bargain Outlet had a net margin of 11.09% and a return on equity of 14.59%. The business had revenue of $415.88 million during the quarter, compared to analysts’ expectations of $434.60 million. During the same period in the previous year, the business posted $1.04 EPS. The company’s revenue for the quarter was down 21.4% compared to the same quarter last year. As a group, analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 2.84 EPS for the current fiscal year.
In related news, SVP Ray Daugherty sold 1,097 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Tuesday, July 13th. The shares were sold at an average price of $90.00, for a total value of $98,730.00. Following the completion of the transaction, the senior vice president now owns 437 shares in the company, valued at $39,330. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Hendrickson sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $89.05, for a total transaction of $133,575.00. Following the sale, the director now directly owns 2,448 shares in the company, valued at approximately $217,994.40. The disclosure for this sale can be found here. Insiders sold 39,988 shares of company stock valued at $3,696,331 in the last quarter. 0.69% of the stock is owned by insiders.
Several research firms recently issued reports on OLLI. Royal Bank of Canada cut their price objective on shares of Ollie’s Bargain Outlet from $102.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, August 27th. Bank of America cut their price objective on shares of Ollie’s Bargain Outlet from $68.00 to $56.00 and set an “underperform” rating for the company in a research report on Friday, August 27th. Craig Hallum cut their price objective on shares of Ollie’s Bargain Outlet from $120.00 to $101.00 and set a “buy” rating for the company in a research report on Friday, August 27th. Morgan Stanley upgraded shares of Ollie’s Bargain Outlet from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $80.00 to $85.00 in a research report on Monday, May 24th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $77.00 price target on shares of Ollie’s Bargain Outlet in a research report on Friday, August 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $83.27.
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.
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