Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 12.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,124 shares of the company’s stock after selling 1,038 shares during the quarter. Pitcairn Co.’s holdings in Ollie’s Bargain Outlet were worth $692,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Great Valley Advisor Group Inc. purchased a new position in Ollie’s Bargain Outlet in the third quarter valued at about $222,000. Nicolet Advisory Services LLC increased its stake in Ollie’s Bargain Outlet by 6.7% in the 3rd quarter. Nicolet Advisory Services LLC now owns 4,510 shares of the company’s stock valued at $433,000 after purchasing an additional 282 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Ollie’s Bargain Outlet by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock worth $73,256,000 after purchasing an additional 5,438 shares during the last quarter. King Luther Capital Management Corp boosted its position in Ollie’s Bargain Outlet by 0.5% during the third quarter. King Luther Capital Management Corp now owns 110,370 shares of the company’s stock worth $10,728,000 after purchasing an additional 543 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Ollie’s Bargain Outlet in the third quarter valued at $3,867,000.

Insider Buying and Selling at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, President Der Valk Eric Van sold 7,479 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the completion of the sale, the president now directly owns 5,615 shares in the company, valued at $563,296.80. This represents a 57.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kevin Mclain sold 15,000 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $98.99, for a total value of $1,484,850.00. Following the completion of the transaction, the senior vice president now directly owns 10,610 shares in the company, valued at $1,050,283.90. This represents a 58.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,880 shares of company stock worth $2,462,470 in the last quarter. 0.87% of the stock is owned by insiders.

Ollie’s Bargain Outlet Trading Up 4.3 %

Ollie’s Bargain Outlet stock opened at $94.61 on Monday. The stock has a fifty day moving average price of $94.79 and a 200 day moving average price of $92.49. Ollie’s Bargain Outlet Holdings, Inc. has a 52 week low of $68.05 and a 52 week high of $104.98. The firm has a market capitalization of $5.80 billion, a P/E ratio of 28.84, a PEG ratio of 2.35 and a beta of 0.84.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The company had revenue of $578.38 million during the quarter, compared to the consensus estimate of $561.60 million. During the same quarter in the prior year, the company posted $0.67 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. StockNews.com cut shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Piper Sandler reiterated an “overweight” rating and issued a $107.00 price target on shares of Ollie’s Bargain Outlet in a research report on Friday, October 4th. Gordon Haskett upgraded Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and lifted their price objective for the stock from $105.00 to $107.00 in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. lowered their target price on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ollie’s Bargain Outlet currently has an average rating of “Moderate Buy” and a consensus target price of $104.92.

About Ollie’s Bargain Outlet

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.