Los Angeles Capital Management LLC Cuts Stock Holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Los Angeles Capital Management LLC reduced its position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,480 shares of the company’s stock after selling 51,123 shares during the period. Los Angeles Capital Management LLC owned 0.27% of Ollie’s Bargain Outlet worth $17,939,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Royce & Associates LP grew its position in shares of Ollie’s Bargain Outlet by 161.6% in the third quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock valued at $7,349,000 after purchasing an additional 46,706 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Ollie’s Bargain Outlet in the fourth quarter valued at approximately $1,345,000. JPMorgan Chase & Co. grew its position in shares of Ollie’s Bargain Outlet by 79.6% in the third quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company’s stock valued at $18,400,000 after purchasing an additional 83,882 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Ollie’s Bargain Outlet by 36.5% in the fourth quarter. Van ECK Associates Corp now owns 46,659 shares of the company’s stock valued at $5,120,000 after purchasing an additional 12,476 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Ollie’s Bargain Outlet by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock valued at $73,256,000 after purchasing an additional 5,438 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OLLI. Truist Financial upped their price target 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. Loop Capital upped their price target on 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. JPMorgan Chase & Co. upped their price objective on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Jefferies Financial Group cut Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and decreased their price objective for the company from $125.00 to $111.00 in a report on Tuesday, February 4th. Finally, StockNews.com cut Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. One equities 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 company’s stock. Based on data from MarketBeat, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.07.

Ollie’s Bargain Outlet Stock Up 2.8 %

NASDAQ:OLLI opened at $99.00 on Wednesday. The stock’s fifty day moving average is $108.36 and its two-hundred day moving average is $100.44. Ollie’s Bargain Outlet Holdings, Inc. has a 52 week low of $68.05 and a 52 week high of $120.03. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 2.21 and a beta of 0.81.

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

Insiders Place Their Bets

In other news, Director Thomas Hendrickson sold 6,250 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $114.74, for a total value of $717,125.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Larry Kraus sold 10,646 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $115.58, for a total value of $1,230,464.68. Following the completion of the sale, the senior vice president now owns 1,905 shares in the company, valued at approximately $220,179.90. The trade was a 84.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,939 shares of company stock worth $8,745,031 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.

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.