Bank of New York Mellon Corp Reduces Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Bank of New York Mellon Corp reduced its position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 22.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 702,544 shares of the company's stock after selling 198,788 shares during the period. Bank of New York Mellon Corp owned 1.15% of Ollie's Bargain Outlet worth $77,090,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in OLLI. Wilmington Savings Fund Society FSB raised its position in shares of Ollie's Bargain Outlet by 337.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company's stock valued at $26,000 after acquiring an additional 182 shares during the period. Bogart Wealth LLC bought a new stake in shares of Ollie's Bargain Outlet in the 4th quarter valued at $26,000. Blue Trust Inc. raised its stake in Ollie's Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company's stock worth $31,000 after buying an additional 101 shares during the period. Arcadia Investment Management Corp MI bought a new position in Ollie's Bargain Outlet during the fourth quarter worth about $58,000. Finally, UMB Bank n.a. grew its stake in Ollie's Bargain Outlet by 25.3% in the fourth quarter. UMB Bank n.a. now owns 545 shares of the company's stock valued at $60,000 after acquiring an additional 110 shares during the period.

Ollie's Bargain Outlet Stock Down 3.4 %

NASDAQ:OLLI traded down $3.55 during trading hours on Friday, hitting $101.70. 875,458 shares of the company traded hands, compared to its average volume of 974,068. The company has a market cap of $6.23 billion, a PE ratio of 30.42, a PEG ratio of 2.21 and a beta of 0.81. The firm's 50-day simple moving average is $106.28 and its 200-day simple moving average is $100.90. Ollie's Bargain Outlet Holdings, Inc. has a one year low of $68.05 and a one year high of $120.03.

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Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $517.43 million during the quarter, compared to analyst estimates of $518.83 million. During the same quarter last year, the business posted $0.51 EPS. The company's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Activity

In other Ollie's Bargain Outlet news, SVP James J. Comitale sold 5,325 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $113.95, for a total value of $606,783.75. Following the transaction, the senior vice president now directly owns 3,140 shares in the company, valued at $357,803. The trade was a 62.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Swygert sold 54,318 shares of Ollie's Bargain Outlet stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 48,200 shares of the company's stock, valued at approximately $5,275,008. This trade represents a 52.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,539 shares of company stock valued at $8,498,935 in the last ninety days. 0.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Craig Hallum increased their price objective on Ollie's Bargain Outlet from $107.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. StockNews.com lowered shares of Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research report on Tuesday, February 4th. Royal Bank of Canada increased their price target on shares of Ollie's Bargain Outlet from $130.00 to $133.00 and gave the company an "outperform" rating in a research note on Friday. Citigroup upgraded Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and lifted their price target for the stock from $64.00 to $133.00 in a report on Wednesday, December 18th. Finally, Wells Fargo & Company boosted their price target on Ollie's Bargain Outlet from $95.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Ollie's Bargain Outlet currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.29.

About Ollie's Bargain Outlet

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.