JPMorgan Chase & Co. Has $18.40 Million Position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

JPMorgan Chase & Co. increased its stake in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 79.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,301 shares of the company's stock after purchasing an additional 83,882 shares during the quarter. JPMorgan Chase & Co. owned about 0.31% of Ollie's Bargain Outlet worth $18,400,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of OLLI. GAMMA Investing LLC increased its position in shares of Ollie's Bargain Outlet by 37.9% in the 3rd quarter. GAMMA Investing LLC now owns 651 shares of the company's stock valued at $63,000 after buying an additional 179 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new position in shares of Ollie's Bargain Outlet during the 3rd quarter valued at about $117,000. LRI Investments LLC grew its position in shares of Ollie's Bargain Outlet by 2,356.1% in the 3rd quarter. LRI Investments LLC now owns 1,400 shares of the company's stock valued at $130,000 after purchasing an additional 1,343 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ollie's Bargain Outlet during the 3rd quarter worth approximately $151,000. Finally, Quest Partners LLC bought a new position in Ollie's Bargain Outlet in the third quarter valued at approximately $196,000.

Ollie's Bargain Outlet Price Performance

Ollie's Bargain Outlet stock traded up $1.91 during mid-day trading on Friday, hitting $106.36. 1,141,961 shares of the company's stock traded hands, compared to its average volume of 1,052,560. The firm has a 50 day simple moving average of $103.62 and a two-hundred day simple moving average of $98.48. 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 stock has a market cap of $6.52 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 2.79 and a beta of 0.82.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.01. Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company had revenue of $517.43 million during the quarter, compared to analysts' expectations of $518.83 million. During the same quarter last year, the company posted $0.51 EPS. Ollie's Bargain Outlet's quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 transaction of $227,326.68. Following the sale, the chief financial officer now owns 2,021 shares of the company's stock, valued at $191,348.28. This represents a 54.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Larry Kraus sold 10,646 shares of Ollie's Bargain Outlet stock in a transaction on Monday, December 16th. The shares were sold at an average price of $115.58, for a total value of $1,230,464.68. Following the completion of the transaction, the senior vice president now directly owns 1,905 shares of the company's stock, valued at $220,179.90. This represents a 84.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,172 shares of company stock valued at $9,878,158. 0.87% of the stock is owned by insiders.

Analysts Set New Price Targets

OLLI has been the subject of several research reports. Piper Sandler increased their price objective on shares of Ollie's Bargain Outlet from $107.00 to $126.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Loop Capital boosted their price objective on shares of Ollie's Bargain Outlet from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, December 23rd. Truist Financial raised their target price on shares of Ollie's Bargain Outlet from $109.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. StockNews.com raised shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Saturday, December 28th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $130.00 price objective on shares of Ollie's Bargain Outlet in a report on Monday, December 23rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $118.62.

Ollie's Bargain Outlet Company Profile

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.