Raymond James Financial Inc. Invests $48.63 Million in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Raymond James Financial Inc. acquired a new position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 443,198 shares of the company’s stock, valued at approximately $48,633,000.

A number of other hedge funds have also modified their holdings of OLLI. Janney Montgomery Scott LLC grew its holdings in shares of Ollie’s Bargain Outlet by 5.2% during the third quarter. Janney Montgomery Scott LLC now owns 8,122 shares of the company’s stock worth $789,000 after buying an additional 402 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Ollie’s Bargain Outlet by 10.0% during the third quarter. Crossmark Global Holdings Inc. now owns 4,406 shares of the company’s stock worth $428,000 after buying an additional 400 shares in the last quarter. Chartwell Investment Partners LLC grew its holdings in shares of Ollie’s Bargain Outlet by 50.7% during the third quarter. Chartwell Investment Partners LLC now owns 12,212 shares of the company’s stock worth $1,187,000 after buying an additional 4,111 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Ollie’s Bargain Outlet by 84.8% during the third quarter. Victory Capital Management Inc. now owns 313,836 shares of the company’s stock worth $30,505,000 after buying an additional 143,996 shares in the last quarter. Finally, Geneva Capital Management LLC grew its holdings in shares of Ollie’s Bargain Outlet by 1.3% during the third quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company’s stock worth $102,106,000 after buying an additional 13,369 shares in the last quarter.

Wall Street Analysts Forecast Growth

OLLI has been the subject of a number of research reports. Jefferies Financial Group downgraded Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. Wells Fargo & Company raised their price target on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Loop Capital raised their price target on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Piper Sandler raised their price target on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada raised their price target on Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $118.29.

Ollie’s Bargain Outlet Trading Up 2.3 %

Shares of NASDAQ OLLI opened at $101.08 on Wednesday. Ollie’s Bargain Outlet Holdings, Inc. has a 12 month low of $68.05 and a 12 month high of $120.03. The stock has a 50 day moving average of $105.75 and a 200-day moving average of $101.00. The company has a market capitalization of $6.19 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.21 and a beta of 0.83.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $517.43 million during the quarter, compared to the consensus estimate of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. Analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Thomas Hendrickson sold 6,250 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $114.74, for a total transaction of $717,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Larry Kraus sold 10,646 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $115.58, for a total value of $1,230,464.68. Following the sale, the senior vice president now directly owns 1,905 shares of the company’s stock, valued at approximately $220,179.90. The trade was a 84.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by insiders.

Ollie’s Bargain Outlet Company Profile

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.