Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Position Reduced by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC reduced its stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,594 shares of the company’s stock after selling 6,921 shares during the period. Lord Abbett & CO. LLC owned about 0.40% of Ollie’s Bargain Outlet worth $23,871,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp boosted its holdings in Ollie’s Bargain Outlet by 2.1% in the third quarter. State Street Corp now owns 1,871,047 shares of the company’s stock worth $181,866,000 after purchasing an additional 38,203 shares during the period. Geode Capital Management LLC boosted its holdings 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 valued at $104,860,000 after buying an additional 9,492 shares during the period. Geneva Capital Management LLC raised 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 period. American Century Companies Inc. lifted its holdings in Ollie’s Bargain Outlet by 5.6% in 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, Fred Alger Management LLC boosted its stake in 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 during the period.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, President Der Valk Eric Van sold 7,479 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $100.32, for a total value of $750,293.28. Following the transaction, the president now owns 5,615 shares of the company’s stock, valued at approximately $563,296.80. This represents a 57.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert F. Helm sold 2,401 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total value of $227,326.68. Following the sale, the chief financial officer now directly owns 2,021 shares of the company’s stock, valued at approximately $191,348.28. This represents a 54.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,755 shares of company stock worth $8,680,862. 0.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

OLLI has been the topic of several recent research reports. Bank of America raised their price target on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Craig Hallum raised their target price 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. Truist Financial upped their price target on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company boosted 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 note on Wednesday, December 11th. Finally, Piper Sandler raised their price target on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and an average target price of $116.58.

Ollie’s Bargain Outlet Price Performance

NASDAQ OLLI opened at $112.77 on Monday. The firm has a market capitalization of $6.91 billion, a PE ratio of 33.66, a P/E/G ratio of 2.81 and a beta of 0.85. Ollie’s Bargain Outlet Holdings, Inc. has a 12 month low of $68.05 and a 12 month high of $115.98. The company’s 50 day simple moving average is $96.26 and its 200 day simple moving average is $95.41.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. Sell-side analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

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.