Alliancebernstein L.P. Buys 186,313 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Alliancebernstein L.P. raised its stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,629,572 shares of the company’s stock after acquiring an additional 186,313 shares during the quarter. Alliancebernstein L.P. owned approximately 2.66% of Ollie’s Bargain Outlet worth $178,813,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Ollie’s Bargain Outlet in the fourth quarter valued at approximately $33,000. Orion Portfolio Solutions LLC increased its position in shares of Ollie’s Bargain Outlet by 79.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 8,280 shares of the company’s stock valued at $909,000 after acquiring an additional 3,672 shares during the last quarter. Premier Fund Managers Ltd purchased a new stake in Ollie’s Bargain Outlet during the 4th quarter worth approximately $496,000. Pictet Asset Management Holding SA increased its stake in shares of Ollie’s Bargain Outlet by 8.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,675 shares of the company’s stock worth $952,000 after buying an additional 654 shares during the period. Finally, Norges Bank purchased a new position in Ollie’s Bargain Outlet in the fourth quarter valued at $80,741,000.

Ollie’s Bargain Outlet Stock Performance

Shares of NASDAQ:OLLI opened at $114.55 on Wednesday. The company has a market capitalization of $7.02 billion, a PE ratio of 34.19, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. The stock has a fifty day moving average of $106.16 and a 200-day moving average of $102.59. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $68.05 and a one year high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly 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 company had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $674.61 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 EPS. As a group, research analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Activity

In other Ollie’s Bargain Outlet news, Chairman John W. Swygert sold 5,232 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $112.51, for a total transaction of $588,652.32. Following the completion of the sale, the chairman now owns 48,200 shares of the company’s stock, valued at $5,422,982. This represents a 9.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Fisch sold 6,250 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $108.08, for a total value of $675,500.00. Following the completion of the sale, the director now directly owns 22,159 shares in the company, valued at approximately $2,394,944.72. This represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,153 shares of company stock worth $2,200,844 in the last ninety days. Corporate insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on OLLI. Morgan Stanley boosted their price objective on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Citigroup upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $64.00 to $133.00 in a research report on Wednesday, December 18th. Truist Financial lifted their price objective on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. UBS Group upped their price target on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Finally, Loop Capital upped their price objective on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.08.

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.