C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys New Shares in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 11,660 shares of the company’s stock, valued at approximately $1,279,000.

Several other hedge funds have also made changes to their positions in OLLI. International Assets Investment Management LLC lifted its stake in shares of Ollie’s Bargain Outlet by 7,676.0% in the third quarter. International Assets Investment Management LLC now owns 19,440 shares of the company’s stock valued at $1,890,000 after buying an additional 19,190 shares during the period. Dumont & Blake Investment Advisors LLC acquired a new position in Ollie’s Bargain Outlet in the third quarter worth about $604,000. Wealth Enhancement Advisory Services LLC raised its position in Ollie’s Bargain Outlet by 7.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,966 shares of the company’s stock worth $385,000 after purchasing an additional 283 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Ollie’s Bargain Outlet by 44.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,413 shares of the company’s stock worth $232,000 after purchasing an additional 748 shares in the last quarter. Finally, Pullen Investment Management LLC acquired a new position in Ollie’s Bargain Outlet in the third quarter worth about $414,000.

Insider Activity at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 5,325 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $113.95, for a total value of $606,783.75. Following the transaction, the senior vice president now directly owns 3,140 shares of the company’s stock, valued at approximately $357,803. This trade represents a 62.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Swygert sold 54,318 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $109.44, for a total transaction of $5,944,561.92. Following the completion of the transaction, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $5,275,008. The trade was a 52.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,771 shares of company stock valued at $9,650,832 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OLLI shares. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price target on shares of Ollie’s Bargain Outlet in a research report on Monday, December 23rd. Truist Financial increased 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. JPMorgan Chase & Co. increased their price target on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Citigroup raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and raised their price objective for the stock from $64.00 to $133.00 in a report on Wednesday, December 18th. Finally, Piper Sandler raised their price objective on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and an average target price of $118.07.

Ollie’s Bargain Outlet Price Performance

Shares of Ollie’s Bargain Outlet stock opened at $109.28 on Wednesday. The firm has a market cap of $6.70 billion, a P/E ratio of 32.62, a P/E/G ratio of 2.34 and a beta of 0.81. The firm has a 50 day simple moving average of $109.71 and a 200 day simple moving average of $100.08. Ollie’s Bargain Outlet Holdings, Inc. has a fifty-two week low of $68.05 and a fifty-two week high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $517.43 million during the quarter, compared to analyst estimates of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. Ollie’s Bargain Outlet’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share. On average, sell-side analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

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.