Raymond James & Associates Trims Holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Raymond James & Associates cut its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI – Get Rating) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,703 shares of the company’s stock after selling 4,296 shares during the quarter. Raymond James & Associates owned approximately 0.12% of Ollie’s Bargain Outlet worth $3,640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jump Financial LLC purchased a new stake in shares of Ollie’s Bargain Outlet in the 3rd quarter worth about $434,000. SG Americas Securities LLC grew its position in shares of Ollie’s Bargain Outlet by 112.6% in the 4th quarter. SG Americas Securities LLC now owns 19,372 shares of the company’s stock worth $907,000 after buying an additional 10,261 shares during the period. LPL Financial LLC grew its position in Ollie’s Bargain Outlet by 3.9% during the 4th quarter. LPL Financial LLC now owns 32,811 shares of the company’s stock valued at $1,578,000 after purchasing an additional 1,222 shares during the last quarter. Romano Brothers AND Company purchased a new stake in Ollie’s Bargain Outlet during the 4th quarter valued at about $47,000. Finally, Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Ollie’s Bargain Outlet during the 3rd quarter valued at about $7,784,000.

Ollie’s Bargain Outlet Stock Down 6.6 %

Shares of NASDAQ:OLLI opened at $56.78 on Friday. The firm’s 50 day moving average price is $61.52 and its 200-day moving average price is $56.69. Ollie’s Bargain Outlet Holdings, Inc. has a twelve month low of $44.72 and a twelve month high of $72.27. The stock has a market capitalization of $3.52 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 1.10 and a beta of 0.97.

Ollie’s Bargain Outlet (NASDAQ:OLLI – Get Rating) last released its earnings results on Wednesday, March 22nd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. Ollie’s Bargain Outlet had a net margin of 5.63% and a return on equity of 7.69%. The company had revenue of $549.80 million for the quarter, compared to analysts’ expectations of $542.18 million. During the same quarter last year, the business earned $0.69 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, Director Thomas Hendrickson sold 3,000 shares of the stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $58.52, for a total transaction of $175,560.00. Following the completion of the sale, the director now directly owns 610 shares of the company’s stock, valued at approximately $35,697.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on OLLI shares. StockNews.com started coverage on shares of Ollie’s Bargain Outlet in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Truist Financial increased their price objective on shares of Ollie’s Bargain Outlet from $46.00 to $59.00 and gave the company a “hold” rating in a research report on Thursday, March 23rd. Loop Capital increased their price objective on shares of Ollie’s Bargain Outlet from $42.00 to $58.00 and gave the company an “equal weight” rating in a research report on Thursday, March 23rd. The Goldman Sachs Group increased their price objective on shares of Ollie’s Bargain Outlet from $56.00 to $61.00 in a research report on Wednesday, March 22nd. Finally, Citigroup downgraded shares of Ollie’s Bargain Outlet from a “neutral” rating to a “sell” rating and cut their price objective for the company from $52.00 to $49.00 in a research report on Monday, March 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Ollie’s Bargain Outlet presently has an average rating of “Hold” and a consensus target price of $62.13.

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.