Verition Fund Management LLC Boosts Stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Verition Fund Management LLC raised its position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLIFree Report) by 124.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,901 shares of the company’s stock after acquiring an additional 64,182 shares during the period. Verition Fund Management LLC owned approximately 0.19% of Ollie’s Bargain Outlet worth $8,796,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Ollie’s Bargain Outlet by 1.0% in the third quarter. Vanguard Group Inc. now owns 5,495,026 shares of the company’s stock worth $424,106,000 after acquiring an additional 54,941 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Ollie’s Bargain Outlet by 141.5% during the third quarter. Wellington Management Group LLP now owns 1,075,882 shares of the company’s stock valued at $83,037,000 after purchasing an additional 630,298 shares during the last quarter. Geneva Capital Management LLC grew its holdings in Ollie’s Bargain Outlet by 0.4% in the 4th quarter. Geneva Capital Management LLC now owns 1,037,404 shares of the company’s stock worth $78,729,000 after buying an additional 4,523 shares in the last quarter. Invesco Ltd. grew its holdings in Ollie’s Bargain Outlet by 76.1% in the 3rd quarter. Invesco Ltd. now owns 831,522 shares of the company’s stock worth $64,177,000 after buying an additional 359,371 shares in the last quarter. Finally, Norges Bank bought a new position in Ollie’s Bargain Outlet in the 4th quarter worth approximately $59,215,000.

Ollie’s Bargain Outlet Stock Performance

Shares of NASDAQ:OLLI opened at $84.61 on Tuesday. The stock has a fifty day moving average of $75.84 and a 200-day moving average of $75.34. The company has a market capitalization of $5.18 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 2.24 and a beta of 0.82. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $57.31 and a one year high of $91.08.

Ollie’s Bargain Outlet (NASDAQ:OLLIGet Free Report) last released its earnings results on Wednesday, June 5th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $508.82 million during the quarter, compared to analyst estimates of $506.49 million. Ollie’s Bargain Outlet had a return on equity of 13.22% and a net margin of 9.14%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share. As a group, research analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.31 EPS for the current fiscal year.

Insider Activity

In other news, President Der Valk Eric Van sold 1,438 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $129,420.00. Following the transaction, the president now directly owns 4,158 shares of the company’s stock, valued at $374,220. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Der Valk Eric Van sold 1,438 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $129,420.00. Following the transaction, the president now directly owns 4,158 shares of the company’s stock, valued at $374,220. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Hendrickson sold 5,000 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $72.29, for a total transaction of $361,450.00. Following the completion of the transaction, the director now directly owns 5,659 shares in the company, valued at $409,089.11. The disclosure for this sale can be found here. Insiders sold 50,055 shares of company stock worth $4,083,045 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America upped their target price on Ollie’s Bargain Outlet from $92.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. UBS Group upped their target price on Ollie’s Bargain Outlet from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, June 6th. Royal Bank of Canada upped their target price on Ollie’s Bargain Outlet from $86.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. upped their target price on Ollie’s Bargain Outlet from $85.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, June 6th. Finally, Morgan Stanley upped their target price on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 6th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.64.

View Our Latest Report on OLLI

About Ollie’s Bargain Outlet

(Free Report)

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.

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Institutional Ownership by Quarter for Ollie's Bargain Outlet (NASDAQ:OLLI)

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