Envestnet Asset Management Inc. Increases Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Envestnet Asset Management Inc. boosted its stake in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 103.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 487,774 shares of the company's stock after purchasing an additional 247,852 shares during the quarter. Envestnet Asset Management Inc. owned about 0.80% of Ollie's Bargain Outlet worth $53,523,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Congress Asset Management Co. increased its position 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 worth $210,307,000 after acquiring an additional 1,235,994 shares during the period. Norges Bank acquired a new stake in Ollie's Bargain Outlet during the fourth quarter worth approximately $80,741,000. Stephens Investment Management Group LLC bought a new stake in shares of Ollie's Bargain Outlet during the 4th quarter valued at $78,356,000. Raymond James Financial Inc. bought a new stake in Ollie's Bargain Outlet during the fourth quarter worth about $48,633,000. Finally, Wellington Management Group LLP boosted its position in shares of 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 worth $46,952,000 after acquiring an additional 294,217 shares in the last quarter.

Insider Buying and Selling at Ollie's Bargain Outlet

In other news, CEO Der Valk Eric Van sold 1,153 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $110.85, for a total value of $127,810.05. Following the sale, the chief executive officer now directly owns 6,768 shares of the company's stock, valued at approximately $750,232.80. This represents a 14.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert F. Helm sold 312 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $107.17, for a total transaction of $33,437.04. Following the completion of the transaction, the chief financial officer now owns 3,273 shares in the company, valued at approximately $350,767.41. The trade was a 8.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,897 shares of company stock valued at $4,227,970. 0.87% of the stock is currently owned by company insiders.

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Ollie's Bargain Outlet Trading Down 0.5 %

Shares of OLLI traded down $0.55 during mid-day trading on Tuesday, reaching $115.12. 194,495 shares of the stock traded hands, compared to its average volume of 1,126,347. Ollie's Bargain Outlet Holdings, Inc. has a 1 year low of $70.17 and a 1 year high of $120.03. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 34.40, a price-to-earnings-growth ratio of 2.21 and a beta of 0.75. The firm has a fifty day moving average price of $106.31 and a 200 day moving average price of $103.51.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OLLI. Jefferies Financial Group downgraded Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $125.00 to $111.00 in a research report on Tuesday, February 4th. Piper Sandler dropped their price objective on shares of 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. StockNews.com downgraded shares of Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a report on Tuesday, February 4th. Royal Bank of Canada lifted their target price on shares of Ollie's Bargain Outlet from $130.00 to $133.00 and gave the stock an "outperform" rating in a research report on Friday, March 7th. Finally, UBS Group increased their target price on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Ollie's Bargain Outlet currently has an average 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.