Kayne Anderson Rudnick Investment Management LLC Acquires 2,948,393 Shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 173.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,644,774 shares of the company's stock after acquiring an additional 2,948,393 shares during the quarter. Ollie's Bargain Outlet accounts for approximately 1.2% of Kayne Anderson Rudnick Investment Management LLC's holdings, making the stock its 28th largest position. Kayne Anderson Rudnick Investment Management LLC owned approximately 7.58% of Ollie's Bargain Outlet worth $509,671,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Legacy Capital Wealth Partners LLC increased its holdings in Ollie's Bargain Outlet by 3.4% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,834 shares of the company's stock worth $311,000 after buying an additional 94 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Ollie's Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company's stock valued at $31,000 after acquiring an additional 101 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Ollie's Bargain Outlet by 25.3% in the fourth quarter. UMB Bank n.a. now owns 545 shares of the company's stock worth $60,000 after acquiring an additional 110 shares during the period. Precision Wealth Strategies LLC raised its holdings in shares of Ollie's Bargain Outlet by 3.2% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,889 shares of the company's stock valued at $427,000 after purchasing an additional 119 shares during the last quarter. Finally, Pitcairn Co. lifted its position in Ollie's Bargain Outlet by 1.7% during the fourth quarter. Pitcairn Co. now owns 7,244 shares of the company's stock valued at $795,000 after purchasing an additional 120 shares during the period.

Ollie's Bargain Outlet Stock Performance

Shares of NASDAQ OLLI traded up $1.20 during midday trading on Wednesday, reaching $110.94. The stock had a trading volume of 1,010,855 shares, compared to its average volume of 1,142,579. Ollie's Bargain Outlet Holdings, Inc. has a 12-month low of $70.17 and a 12-month high of $120.03. The stock has a 50-day moving average of $107.08 and a 200-day moving average of $104.11. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 2.21 and a beta of 0.75.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.01). Ollie's Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business had revenue of $667.10 million during the quarter, compared to analysts' expectations of $674.61 million. During the same quarter in the previous year, the company posted $1.23 EPS. The company's quarterly revenue was up 2.8% on a year-over-year basis. As a group, analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Activity at Ollie's Bargain Outlet

In other news, CFO Robert F. Helm sold 2,145 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $108.50, for a total transaction of $232,732.50. Following the completion of the transaction, the chief financial officer now owns 3,888 shares in the company, valued at $421,848. This trade represents a 35.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Fisch sold 6,250 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $108.08, for a total value of $675,500.00. Following the completion of the sale, the director now owns 22,159 shares in the company, valued at $2,394,944.72. This represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,897 shares of company stock valued at $4,227,970. 0.87% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OLLI. Jefferies Financial Group lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and decreased their target price for the company from $125.00 to $111.00 in a research note on Tuesday, February 4th. Morgan Stanley increased their target price on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. UBS Group raised their target price on Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Royal Bank of Canada upped 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 report on Friday, March 7th. Finally, StockNews.com downgraded shares of Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Ollie's Bargain Outlet currently has a consensus rating of "Moderate Buy" and an average target price of $123.08.

Ollie's Bargain Outlet 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.