State of Michigan Retirement System Sells 300 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

State of Michigan Retirement System decreased its stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 2.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 14,803 shares of the company’s stock after selling 300 shares during the quarter. State of Michigan Retirement System’s holdings in Ollie’s Bargain Outlet were worth $1,453,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC increased its holdings in shares of Ollie’s Bargain Outlet by 194.3% in the 1st quarter. Venturi Wealth Management LLC now owns 309 shares of the company’s stock worth $25,000 after buying an additional 204 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Ollie’s Bargain Outlet in the 2nd quarter worth $31,000. Blue Bell Private Wealth Management LLC bought a new position in shares of Ollie’s Bargain Outlet during the 1st quarter valued at $29,000. ORG Partners LLC bought a new position in shares of Ollie’s Bargain Outlet during the 1st quarter valued at $28,000. Finally, Versant Capital Management Inc bought a new position in shares of Ollie’s Bargain Outlet during the 2nd quarter valued at $38,000.

Ollie’s Bargain Outlet Stock Performance

Shares of Ollie’s Bargain Outlet stock opened at $86.90 on Friday. The stock has a market capitalization of $5.32 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $104.98. The company has a 50-day simple moving average of $96.90 and a two-hundred day simple moving average of $84.48.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Wednesday, June 5th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. The business had revenue of $508.82 million during the quarter, compared to analysts’ expectations of $506.49 million. Ollie’s Bargain Outlet had a net margin of 9.14% and a return on equity of 13.22%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. As a group, equities research analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, SVP Kevin Mclain sold 11,340 shares of Ollie’s Bargain Outlet stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $85.75, for a total value of $972,405.00. Following the completion of the transaction, the senior vice president now directly owns 10,610 shares of the company’s stock, valued at $909,807.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Kevin Mclain sold 11,340 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $85.75, for a total transaction of $972,405.00. Following the completion of the transaction, the senior vice president now directly owns 10,610 shares of the company’s stock, valued at $909,807.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Der Valk Eric Van sold 1,438 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,367 shares of company stock valued at $3,061,165. Insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Loop Capital increased their target price on shares of Ollie’s Bargain Outlet from $100.00 to $110.00 and gave the company a “buy” rating in a report on Monday, June 24th. Morgan Stanley increased their price target on shares of Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, June 6th. Wells Fargo & Company increased their price target on shares of Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, June 6th. Truist Financial increased their price target on shares of Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, UBS Group increased their price target on shares of Ollie’s Bargain Outlet from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, June 6th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.46.

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.