Invesco Ltd. Boosts Stock Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Invesco Ltd. boosted its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,645,472 shares of the company's stock after buying an additional 17,302 shares during the period. Invesco Ltd. owned 2.69% of Ollie's Bargain Outlet worth $180,558,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Congress Asset Management Co. grew its stake in Ollie's Bargain Outlet by 181.6% in the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company's stock worth $210,307,000 after purchasing an additional 1,235,994 shares during the period. Norges Bank bought a new stake in shares of Ollie's Bargain Outlet during the 4th quarter valued at $80,741,000. Stephens Investment Management Group LLC purchased a new stake in shares of Ollie's Bargain Outlet in the 4th quarter worth about $78,356,000. Raymond James Financial Inc. bought a new position in shares of Ollie's Bargain Outlet in the 4th quarter worth about $48,633,000. Finally, Envestnet Asset Management Inc. lifted its position in Ollie's Bargain Outlet by 103.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 487,774 shares of the company's stock valued at $53,523,000 after acquiring an additional 247,852 shares during the period.

Insider Activity

In other news, CFO Robert F. Helm sold 2,145 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $108.50, for a total value of $232,732.50. Following the completion of the sale, the chief financial officer now directly owns 3,888 shares in the company, valued at $421,848. This represents a 35.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Fisch sold 6,250 shares of Ollie's Bargain Outlet stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $108.08, for a total value of $675,500.00. Following the transaction, the director now directly owns 22,159 shares in the company, valued at approximately $2,394,944.72. The trade was a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,897 shares of company stock valued at $4,227,970 in the last quarter. 0.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

OLLI has been the subject of several recent research reports. Jefferies Financial Group lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and lowered their target price for the company from $125.00 to $111.00 in a report on Tuesday, February 4th. Royal Bank of Canada increased their target price on Ollie's Bargain Outlet from $130.00 to $133.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. Morgan Stanley lifted their price target on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. UBS Group increased their price objective on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Finally, StockNews.com cut shares of Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.08.

Ollie's Bargain Outlet Price Performance

Ollie's Bargain Outlet stock traded up $1.98 during midday trading on Friday, reaching $111.95. 1,118,807 shares of the company traded hands, compared to its average volume of 1,130,959. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 33.42, a price-to-earnings-growth ratio of 2.21 and a beta of 0.75. The business has a 50 day moving average of $106.72 and a two-hundred day moving average of $103.73. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $70.17 and a 12 month high of $120.03.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.01). The firm had revenue of $667.10 million during the quarter, compared to analysts' expectations of $674.61 million. Ollie's Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $1.23 earnings per share. As a group, equities analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Ollie's Bargain Outlet 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.