Public Employees Retirement System of Ohio cut its holdings in Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) by 15.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,815 shares of the company’s stock after selling 9,480 shares during the period. Public Employees Retirement System of Ohio owned 0.08% of Ollie’s Bargain Outlet worth $3,380,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of OLLI. First Bank & Trust purchased a new stake in Ollie’s Bargain Outlet during the 4th quarter valued at approximately $32,000. Rehmann Capital Advisory Group raised its position in shares of Ollie’s Bargain Outlet by 796.7% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,883 shares of the company’s stock valued at $125,000 after buying an additional 1,673 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Ollie’s Bargain Outlet by 11.8% in the fourth quarter. Bank of Montreal Can now owns 2,059 shares of the company’s stock worth $136,000 after buying an additional 218 shares in the last quarter. First Mercantile Trust Co. purchased a new position in shares of Ollie’s Bargain Outlet in the fourth quarter worth $147,000. Finally, Glenmede Trust Co. NA boosted its position in shares of Ollie’s Bargain Outlet by 92.8% during the third quarter. Glenmede Trust Co. NA now owns 1,897 shares of the company’s stock worth $181,000 after acquiring an additional 913 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the stock. BidaskClub downgraded shares of Ollie’s Bargain Outlet from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 12th. Morgan Stanley increased their price objective on shares of Ollie’s Bargain Outlet from $74.00 to $79.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Zacks Investment Research downgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Finally, Bank of America restated a “buy” rating and set a $87.00 price objective (down previously from $98.00) on shares of Ollie’s Bargain Outlet in a research report on Wednesday, January 9th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Ollie’s Bargain Outlet presently has an average rating of “Buy” and an average target price of $89.40.
In other Ollie’s Bargain Outlet news, COO John W. Swygert sold 3,149 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $79.98, for a total transaction of $251,857.02. Following the sale, the chief operating officer now directly owns 33,699 shares of the company’s stock, valued at $2,695,246.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark L. Butler sold 24,663 shares of the business’s stock in a transaction that occurred on Friday, January 11th. The stock was sold at an average price of $80.69, for a total value of $1,990,057.47. Following the sale, the chief executive officer now directly owns 2,584,079 shares in the company, valued at $208,509,334.51. The disclosure for this sale can be found here. Insiders have sold a total of 328,951 shares of company stock worth $26,625,825 over the last 90 days. Corporate insiders own 20.27% of the company’s stock.
Shares of OLLI opened at $89.69 on Friday. The firm has a market capitalization of $5.67 billion, a P/E ratio of 49.01, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. Ollie’s Bargain Outlet Holdings Inc has a fifty-two week low of $57.95 and a fifty-two week high of $97.61.
Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. Ollie’s Bargain Outlet had a net margin of 10.88% and a return on equity of 13.71%. The business had revenue of $393.93 million during the quarter, compared to analyst estimates of $398.13 million. During the same quarter last year, the business earned $0.51 earnings per share. Ollie’s Bargain Outlet’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, analysts forecast that Ollie’s Bargain Outlet Holdings Inc will post 2.15 EPS for the current fiscal year.
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Ollie’s Bargain Outlet Company Profile
Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise. The company offers food products, housewares, books and stationery, bed and bath products, health and beauty products, floor coverings, electronics, and toys; and other products, including hardware, personal health care, candy, clothing, sporting, pet and lawn, and garden products.
Further Reading: What Does a Sell-Side Analyst Rating Mean?
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