Norges Bank Takes $80.74 Million Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Norges Bank acquired a new position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the 4th quarter, Holdings Channel reports. The fund acquired 735,816 shares of the company’s stock, valued at approximately $80,741,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ollie’s Bargain Outlet by 489.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $25,000 after buying an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Ollie’s Bargain Outlet by 337.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock valued at $26,000 after acquiring an additional 182 shares in the last quarter. Bogart Wealth LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the fourth quarter valued at about $26,000. Blue Trust Inc. raised its holdings in Ollie’s Bargain Outlet by 55.2% during the fourth quarter. Blue Trust Inc. now owns 284 shares of the company’s stock worth $31,000 after acquiring an additional 101 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Ollie’s Bargain Outlet during the fourth quarter valued at approximately $41,000.

Insider Buying and Selling

In related news, Director Robert Fisch sold 6,250 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $108.08, for a total value of $675,500.00. Following the sale, the director now directly owns 22,159 shares of the company’s stock, valued at $2,394,944.72. This trade represents a 22.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Der Valk Eric Van sold 1,153 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $110.85, for a total value of $127,810.05. Following the transaction, the chief executive officer now directly owns 6,768 shares of the company’s stock, valued at approximately $750,232.80. The trade was a 14.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,105 shares of company stock worth $2,883,227. Corporate insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ OLLI opened at $118.20 on Thursday. The stock has a market capitalization of $7.24 billion, a PE ratio of 35.28, a P/E/G ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet Holdings, Inc. has a fifty-two week low of $68.05 and a fifty-two week high of $120.03. The business has a fifty day moving average price of $106.30 and a two-hundred day moving average price of $102.70.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm had revenue of $667.10 million for the quarter, compared to the consensus estimate of $674.61 million. During the same period in the prior year, the company earned $1.23 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OLLI shares. Wells Fargo & Company boosted their target price on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. raised their target price on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Citigroup raised Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their price target for the stock from $64.00 to $133.00 in a research report on Wednesday, December 18th. Craig Hallum raised their price objective on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Bank of America boosted their target price on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $123.08.

About Ollie’s Bargain Outlet

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.