Legal & General Group Plc Reduces Stock Position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Legal & General Group Plc reduced its holdings in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,178 shares of the company's stock after selling 5,590 shares during the period. Legal & General Group Plc owned about 0.16% of Ollie's Bargain Outlet worth $10,554,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Ollie's Bargain Outlet by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company's stock worth $638,843,000 after purchasing an additional 70,496 shares in the last quarter. Congress Asset Management Co. grew its holdings in Ollie's Bargain Outlet by 181.6% during the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company's stock valued at $210,307,000 after purchasing an additional 1,235,994 shares during the period. Invesco Ltd. increased its position in Ollie's Bargain Outlet by 1.1% in the fourth quarter. Invesco Ltd. now owns 1,645,472 shares of the company's stock worth $180,558,000 after buying an additional 17,302 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Ollie's Bargain Outlet by 12.9% in the fourth quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company's stock worth $178,813,000 after buying an additional 186,313 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Ollie's Bargain Outlet by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,082,660 shares of the company's stock valued at $118,837,000 after buying an additional 4,116 shares in the last quarter.

Ollie's Bargain Outlet Stock Up 3.0 %

Ollie's Bargain Outlet stock traded up $3.24 during midday trading on Tuesday, reaching $109.74. 1,761,552 shares of the stock traded hands, compared to its average volume of 1,142,301. The stock has a market cap of $6.72 billion, a P/E ratio of 32.76, a PEG ratio of 2.21 and a beta of 0.75. The stock's fifty day moving average is $107.03 and its 200-day moving average is $104.06. 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 posted its earnings results on Wednesday, March 19th. The company reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.01). Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm had revenue of $667.10 million for the quarter, compared to the consensus estimate of $674.61 million. During the same quarter in the prior year, the company posted $1.23 earnings per share. The firm's revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Robert F. Helm sold 312 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $107.17, for a total value of $33,437.04. Following the completion of the sale, the chief financial officer now directly owns 3,273 shares in the company, valued at $350,767.41. This trade represents a 8.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Der Valk Eric Van sold 1,153 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $110.85, for a total transaction of $127,810.05. Following the transaction, the chief executive officer now owns 6,768 shares in the company, valued at $750,232.80. This trade represents a 14.56 % decrease in their position. 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 three months. Corporate insiders own 0.87% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OLLI shares. Jefferies Financial Group lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and reduced their target price for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. Morgan Stanley increased their price objective on shares of Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Loop Capital lifted their target price on shares of 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 cut their price target on Ollie's Bargain Outlet from $126.00 to $124.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Finally, Royal Bank of Canada boosted their price objective on Ollie's Bargain Outlet from $130.00 to $133.00 and gave the company an "outperform" rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $123.08.

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.