Cramer Rosenthal Mcglynn LLC Reduces Stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Cramer Rosenthal Mcglynn LLC lowered its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 15.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 320,689 shares of the company’s stock after selling 57,839 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 0.52% of Ollie’s Bargain Outlet worth $18,581,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its holdings in Ollie’s Bargain Outlet by 1.2% during the 1st quarter. State Street Corp now owns 1,691,148 shares of the company’s stock worth $72,652,000 after acquiring an additional 19,381 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Ollie’s Bargain Outlet by 26.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,585,472 shares of the company’s stock valued at $91,859,000 after buying an additional 336,268 shares in the last quarter. Royal London Asset Management Ltd. purchased a new stake in shares of Ollie’s Bargain Outlet during the 1st quarter valued at $41,301,000. Geode Capital Management LLC raised its position in shares of Ollie’s Bargain Outlet by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 859,236 shares of the company’s stock valued at $40,246,000 after buying an additional 42,835 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Ollie’s Bargain Outlet by 30.1% during the 4th quarter. Two Sigma Investments LP now owns 657,602 shares of the company’s stock valued at $30,802,000 after buying an additional 152,192 shares in the last quarter.

Insider Activity at Ollie’s Bargain Outlet

In related news, CEO John W. Swygert sold 4,690 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $73.26, for a total transaction of $343,589.40. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at $3,531,132. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 4,690 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $73.26, for a total value of $343,589.40. Following the completion of the transaction, the chief executive officer now directly owns 48,200 shares in the company, valued at $3,531,132. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John W. Swygert sold 800 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $73.33, for a total transaction of $58,664.00. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $3,534,506. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,139 shares of company stock worth $670,006. 0.86% of the stock is owned by company insiders.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI traded up $2.58 during mid-day trading on Friday, hitting $76.82. 732,460 shares of the company traded hands, compared to its average volume of 1,163,107. The stock has a 50-day moving average price of $71.59 and a two-hundred day moving average price of $63.85. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $44.72 and a 1 year high of $80.94. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 32.01, a P/E/G ratio of 1.02 and a beta of 0.96.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Thursday, August 31st. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The firm had revenue of $514.50 million during the quarter, compared to analysts’ expectations of $499.04 million. Ollie’s Bargain Outlet had a net margin of 7.69% and a return on equity of 10.80%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. On average, analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 2.71 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on OLLI shares. Truist Financial lifted their target price on shares of Ollie’s Bargain Outlet from $71.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, September 1st. Wells Fargo & Company raised their price target on shares of Ollie’s Bargain Outlet from $67.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Loop Capital raised their price target on shares of Ollie’s Bargain Outlet from $71.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, September 1st. KeyCorp raised their price target on shares of Ollie’s Bargain Outlet from $79.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, September 1st. Finally, 22nd Century Group reaffirmed a “maintains” rating on shares of Ollie’s Bargain Outlet in a research note on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Ollie’s Bargain Outlet has an average rating of “Hold” and an average target price of $75.13.

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.