Lord Abbett & CO. LLC Decreases Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Lord Abbett & CO. LLC trimmed its position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 245,594 shares of the company's stock after selling 6,921 shares during the period. Lord Abbett & CO. LLC owned approximately 0.40% of Ollie's Bargain Outlet worth $23,871,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of OLLI. International Assets Investment Management LLC acquired a new position in Ollie's Bargain Outlet in the second quarter valued at about $25,000. Crewe Advisors LLC acquired a new stake in shares of Ollie's Bargain Outlet during the second quarter worth $36,000. GAMMA Investing LLC raised 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 worth $63,000 after acquiring an additional 179 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new position in shares of Ollie's Bargain Outlet during the third quarter valued at about $117,000. Finally, LRI Investments LLC grew its position in 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.

Wall Street Analysts Forecast Growth

OLLI has been the topic of a number of recent research reports. UBS Group upped their price target on Ollie's Bargain Outlet from $97.00 to $99.00 and gave the company a "neutral" rating in a research report on Friday, August 30th. JPMorgan Chase & Co. boosted their target price on Ollie's Bargain Outlet from $105.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Loop Capital lifted their price objective on shares of Ollie's Bargain Outlet from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Piper Sandler upped their price objective on shares of Ollie's Bargain Outlet from $107.00 to $126.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Finally, Craig Hallum lifted their target price on shares of Ollie's Bargain Outlet from $107.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $116.58.

Insider Buying and Selling

In related news, CEO John W. Swygert sold 54,318 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $109.44, for a total transaction of $5,944,561.92. Following the sale, the chief executive officer now directly owns 48,200 shares of the company's stock, valued at approximately $5,275,008. This represents a 52.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP James J. Comitale sold 5,325 shares of Ollie's Bargain Outlet stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $113.95, for a total transaction of $606,783.75. Following the completion of the transaction, the senior vice president now directly owns 3,140 shares of the company's stock, valued at $357,803. The trade was a 62.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,755 shares of company stock valued at $8,680,862 over the last quarter. 0.87% of the stock is currently owned by company insiders.

Ollie's Bargain Outlet Trading Up 1.4 %

Shares of NASDAQ:OLLI traded up $1.61 during trading on Monday, reaching $114.38. The stock had a trading volume of 1,117,765 shares, compared to its average volume of 1,052,850. The firm's 50-day simple moving average is $96.68 and its 200 day simple moving average is $95.65. The company has a market capitalization of $7.01 billion, a P/E ratio of 34.14, a PEG ratio of 2.79 and a beta of 0.85. Ollie's Bargain Outlet Holdings, Inc. has a one year low of $68.05 and a one year high of $116.18.

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 (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 for the quarter, compared to the consensus estimate of $518.83 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

About Ollie's Bargain Outlet

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.