Citigroup Inc. Reduces Holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Citigroup Inc. reduced its position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 27.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,182 shares of the company’s stock after selling 1,218 shares during the period. Citigroup Inc.’s holdings in Ollie’s Bargain Outlet were worth $246,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Operose Advisors LLC purchased a new position in Ollie’s Bargain Outlet in the third quarter valued at about $26,000. Covestor Ltd grew its position in shares of Ollie’s Bargain Outlet by 48.0% during the second quarter. Covestor Ltd now owns 530 shares of the company’s stock worth $31,000 after buying an additional 172 shares in the last quarter. Huntington National Bank increased its stake in shares of Ollie’s Bargain Outlet by 204.4% in the second quarter. Huntington National Bank now owns 554 shares of the company’s stock worth $32,000 after buying an additional 372 shares during the last quarter. Creative Planning acquired a new stake in Ollie’s Bargain Outlet in the third quarter valued at $46,000. Finally, Captrust Financial Advisors boosted its stake in Ollie’s Bargain Outlet by 81.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,411 shares of the company’s stock valued at $83,000 after acquiring an additional 632 shares during the last quarter.

Insider Activity at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CFO Robert F. Helm sold 2,317 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $78.14, for a total transaction of $181,050.38. Following the completion of the transaction, the chief financial officer now owns 1,777 shares in the company, valued at approximately $138,854.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO John W. Swygert sold 2,342 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $75.23, for a total value of $176,188.66. Following the completion of the transaction, the chief executive officer now directly owns 48,200 shares in the company, valued at $3,626,086. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert F. Helm sold 2,317 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $78.14, for a total value of $181,050.38. Following the sale, the chief financial officer now directly owns 1,777 shares in the company, valued at approximately $138,854.78. The disclosure for this sale can be found here. Insiders have sold a total of 9,659 shares of company stock worth $770,089 in the last three months. 0.86% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OLLI. UBS Group upped their target price on shares of Ollie’s Bargain Outlet from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, December 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 target price on shares of Ollie’s Bargain Outlet in a report on Thursday, March 21st. Truist Financial lifted their target price on Ollie’s Bargain Outlet from $78.00 to $80.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. TheStreet lowered Ollie’s Bargain Outlet from a “b” rating to a “c+” rating in a research report on Thursday, December 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Ollie’s Bargain Outlet from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, March 21st. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.08.

Ollie’s Bargain Outlet Stock Performance

Ollie’s Bargain Outlet stock opened at $78.82 on Thursday. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $52.93 and a one year high of $84.38. The company has a 50-day simple moving average of $76.32 and a 200-day simple moving average of $75.53. The firm has a market capitalization of $4.85 billion, a P/E ratio of 26.99 and a beta of 0.76.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Wednesday, March 20th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.16 by $0.07. The firm had revenue of $648.90 million during the quarter, compared to analysts’ expectations of $649.39 million. Ollie’s Bargain Outlet had a net margin of 8.63% and a return on equity of 12.55%. Ollie’s Bargain Outlet’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. As a group, sell-side analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.18 earnings per share for the current year.

Ollie’s Bargain Outlet Profile

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.