Massachusetts Financial Services Co. MA Boosts Stock Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Massachusetts Financial Services Co. MA raised its position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 344,908 shares of the company's stock after acquiring an additional 21,110 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.56% of Ollie's Bargain Outlet worth $37,847,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in OLLI. Congress Asset Management Co. grew its holdings in shares of 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 valued at $210,307,000 after buying an additional 1,235,994 shares during the last quarter. Norges Bank purchased a new position in Ollie's Bargain Outlet in the 4th quarter worth about $80,741,000. Stephens Investment Management Group LLC bought a new stake in shares of Ollie's Bargain Outlet in the fourth quarter worth approximately $78,356,000. Raymond James Financial Inc. purchased a new position in shares of Ollie's Bargain Outlet during the fourth quarter valued at approximately $48,633,000. Finally, Wellington Management Group LLP boosted its holdings in Ollie's Bargain Outlet by 155.8% in the third quarter. Wellington Management Group LLP now owns 483,044 shares of the company's stock worth $46,952,000 after purchasing an additional 294,217 shares during the last quarter.

Analysts Set New Price Targets

OLLI has been the subject of a number of research reports. Citigroup upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and boosted their target price for the company from $64.00 to $133.00 in a research note on Wednesday, December 18th. Wells Fargo & Company raised their target price 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. Craig Hallum upped their price target on shares of Ollie's Bargain Outlet from $107.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Morgan Stanley upped their target price on shares of 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. Finally, Truist Financial lifted their price target on shares of Ollie's Bargain Outlet from $109.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $123.08.

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Insider Activity

In related news, Chairman John W. Swygert sold 6,526 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $107.87, for a total transaction of $703,959.62. Following the transaction, the chairman now directly owns 53,432 shares of the company's stock, valued at $5,763,709.84. This represents a 10.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Fisch sold 6,250 shares of the firm'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 directly owns 22,159 shares of the company's stock, valued at approximately $2,394,944.72. This represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,897 shares of company stock worth $4,227,970. Corporate insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Stock Up 1.8 %

OLLI traded up $1.93 on Thursday, reaching $111.96. 463,107 shares of the company traded hands, compared to its average volume of 1,119,521. Ollie's Bargain Outlet Holdings, Inc. has a one year low of $70.17 and a one year high of $120.03. The firm has a fifty day simple moving average of $105.85 and a two-hundred day simple moving average of $103.18. The company has a market cap of $6.86 billion, a P/E ratio of 33.60, 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 data on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). The business had revenue of $667.10 million for 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 quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. On average, equities analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

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.