Covestor Ltd Has $121,000 Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Covestor Ltd reduced its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 20.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,244 shares of the company’s stock after selling 318 shares during the quarter. Covestor Ltd’s holdings in Ollie’s Bargain Outlet were worth $121,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the second quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Ollie’s Bargain Outlet during the 2nd quarter worth about $31,000. Crewe Advisors LLC bought a new stake in shares of Ollie’s Bargain Outlet during the 2nd quarter worth about $36,000. Versant Capital Management Inc acquired a new position in Ollie’s Bargain Outlet in the 2nd quarter valued at about $38,000. Finally, GAMMA Investing LLC grew its stake in Ollie’s Bargain Outlet by 686.7% in the 2nd quarter. GAMMA Investing LLC now owns 472 shares of the company’s stock valued at $46,000 after buying an additional 412 shares during the last quarter.

Wall Street Analyst Weigh In

OLLI has been the subject of several research reports. Loop Capital restated a “buy” rating and set a $110.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Friday, September 20th. Gordon Haskett upgraded Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and boosted their price target for the company from $105.00 to $107.00 in a research note on Monday, August 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Ollie’s Bargain Outlet in a report on Friday, October 4th. Royal Bank of Canada lifted their target price on Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $104.92.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI opened at $98.10 on Tuesday. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $104.98. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 2.46 and a beta of 0.84. The business’s fifty day moving average is $94.99 and its 200-day moving average is $91.49.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Thursday, August 29th. The company reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The firm had revenue of $578.38 million during the quarter, compared to the consensus estimate of $561.60 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.28 EPS for the current fiscal year.

Insider Activity at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CFO Robert F. Helm sold 2,401 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $94.68, for a total value of $227,326.68. Following the completion of the transaction, the chief financial officer now directly owns 2,021 shares in the company, valued at approximately $191,348.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Kevin Mclain sold 15,000 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $98.99, for a total value of $1,484,850.00. Following the completion of the transaction, the senior vice president now directly owns 10,610 shares of the company’s stock, valued at approximately $1,050,283.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert F. Helm sold 2,401 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total value of $227,326.68. Following the transaction, the chief financial officer now owns 2,021 shares in the company, valued at $191,348.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,880 shares of company stock valued at $2,462,470 in the last quarter. Insiders own 0.87% of the company’s stock.

About Ollie’s Bargain Outlet

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.