Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) is Pier Capital LLC’s 10th Largest Position

Pier Capital LLC lifted its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,564 shares of the company’s stock after buying an additional 2,934 shares during the period. Ollie’s Bargain Outlet makes up approximately 1.5% of Pier Capital LLC’s portfolio, making the stock its 10th biggest holding. Pier Capital LLC owned 0.15% of Ollie’s Bargain Outlet worth $10,267,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Ollie’s Bargain Outlet by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company’s stock worth $638,843,000 after acquiring an additional 70,496 shares during the period. Congress Asset Management Co. increased its stake in shares of Ollie’s Bargain Outlet by 181.6% during the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock worth $210,307,000 after purchasing an additional 1,235,994 shares during the last quarter. State Street Corp raised its holdings in shares of Ollie’s Bargain Outlet by 2.1% in the 3rd 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 lifted its stake in Ollie’s Bargain Outlet by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock valued at $104,860,000 after purchasing an additional 9,492 shares during the last quarter. Finally, Fred Alger Management LLC grew its holdings in Ollie’s Bargain Outlet by 12.1% during the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock valued at $75,052,000 after purchasing an additional 83,063 shares during the period.

Analysts Set New Price Targets

A number of research analysts have recently commented on OLLI shares. 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 research report on Thursday, March 20th. Wells Fargo & Company upped their price objective on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Royal Bank of Canada lifted their target price on shares of Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. StockNews.com cut shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Finally, Citigroup upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and lifted their price objective for the company from $64.00 to $133.00 in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $123.08.

Ollie’s Bargain Outlet Stock Performance

Ollie’s Bargain Outlet stock opened at $108.22 on Tuesday. The stock has a market cap of $6.63 billion, a P/E ratio of 32.30, a PEG ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet Holdings, Inc. has a fifty-two week low of $68.05 and a fifty-two week high of $120.03. The firm’s fifty day moving average price is $105.30 and its 200-day moving average price is $101.85.

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

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.