Bank of New York Mellon Corp Acquires 437,397 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Bank of New York Mellon Corp increased its holdings in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI – Get Rating) by 21.0% during the third quarter, HoldingsChannel reports. The firm owned 2,518,593 shares of the company’s stock after buying an additional 437,397 shares during the period. Bank of New York Mellon Corp’s holdings in Ollie’s Bargain Outlet were worth $129,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of OLLI. Royal London Asset Management Ltd. bought a new position in shares of Ollie’s Bargain Outlet during the first quarter valued at $41,301,000. Segall Bryant & Hamill LLC bought a new position in shares of Ollie’s Bargain Outlet during the third quarter valued at $29,454,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ollie’s Bargain Outlet by 14.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,006,215 shares of the company’s stock valued at $235,365,000 after purchasing an additional 518,390 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Ollie’s Bargain Outlet during the first quarter valued at $17,880,000. Finally, Driehaus Capital Management LLC bought a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at $23,418,000.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Gordon Haskett downgraded Ollie’s Bargain Outlet from a “buy” rating to an “accumulate” rating and set a $53.00 target price on the stock. in a report on Thursday, December 8th. Craig Hallum lowered their target price on Ollie’s Bargain Outlet from $70.00 to $65.00 in a report on Thursday, December 8th. Loop Capital lowered their target price on Ollie’s Bargain Outlet from $50.00 to $45.00 in a report on Thursday, December 8th. Piper Sandler increased their target price on Ollie’s Bargain Outlet from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday, February 28th. Finally, Wells Fargo & Company increased their target price on Ollie’s Bargain Outlet from $60.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, February 6th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.67.

Ollie’s Bargain Outlet Trading Down 0.6 %

Shares of OLLI opened at $51.94 on Friday. The business’s 50 day moving average is $55.16 and its 200 day moving average is $54.57. The company has a market capitalization of $3.23 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 1.84 and a beta of 0.96. Ollie’s Bargain Outlet Holdings, Inc. has a 12-month low of $39.60 and a 12-month high of $72.27.

About Ollie’s Bargain Outlet

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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.