Retirement Systems of Alabama Reduces Stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Retirement Systems of Alabama decreased its position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 34.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,351 shares of the company's stock after selling 39,396 shares during the period. Retirement Systems of Alabama owned 0.12% of Ollie's Bargain Outlet worth $7,227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of OLLI. D. E. Shaw & Co. Inc. raised its holdings in shares of Ollie's Bargain Outlet by 953.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company's stock worth $55,637,000 after buying an additional 512,928 shares during the last quarter. Holocene Advisors LP raised its stake in Ollie's Bargain Outlet by 10,159.3% in the 3rd quarter. Holocene Advisors LP now owns 471,413 shares of the company's stock worth $45,821,000 after acquiring an additional 466,818 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Ollie's Bargain Outlet by 199.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 560,054 shares of the company's stock worth $54,981,000 after acquiring an additional 372,914 shares during the last quarter. Wellington Management Group LLP grew its stake in Ollie's Bargain Outlet by 155.8% during the 3rd quarter. Wellington Management Group LLP now owns 483,044 shares of the company's stock valued at $46,952,000 after purchasing an additional 294,217 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in Ollie's Bargain Outlet during the 3rd quarter valued at about $16,590,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OLLI. Bank of America lifted their target price on Ollie's Bargain Outlet from $115.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Royal Bank of Canada upped their price objective on shares of Ollie's Bargain Outlet from $120.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Citigroup upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and increased their price objective for the stock from $64.00 to $133.00 in a research note on Wednesday. Gordon Haskett upgraded shares of Ollie's Bargain Outlet from an "accumulate" rating to a "buy" rating and boosted their target price for the company from $105.00 to $107.00 in a research report on Monday, August 26th. Finally, Loop Capital increased their price target on Ollie's Bargain Outlet from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $117.85.

Insider Buying and Selling

In other Ollie's Bargain Outlet news, CEO John W. Swygert sold 54,318 shares of the firm's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $109.44, for a total value of $5,944,561.92. Following the transaction, the chief executive officer now owns 48,200 shares in the company, valued at approximately $5,275,008. This trade represents a 52.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Der Valk Eric Van sold 7,479 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the sale, the president now directly owns 5,615 shares of the company's stock, valued at $563,296.80. The trade was a 57.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,651 shares of company stock worth $10,628,452. Insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Stock Down 0.4 %

Shares of Ollie's Bargain Outlet stock traded down $0.45 on Wednesday, reaching $114.49. The company's stock had a trading volume of 1,489,569 shares, compared to its average volume of 1,055,760. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $118.47. The company has a market capitalization of $7.02 billion, a P/E ratio of 34.18, a PEG ratio of 2.79 and a beta of 0.85. The stock has a 50-day moving average price of $97.09 and a 200-day moving average price of $95.87.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 earnings per share 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 period in the prior year, the business posted $0.51 earnings per share. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Ollie's Bargain Outlet 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.