Park Avenue Securities LLC Invests $504,000 in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Park Avenue Securities LLC purchased a new position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,593 shares of the company's stock, valued at approximately $504,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Royce & Associates LP boosted its stake in Ollie's Bargain Outlet by 161.6% during the third quarter. Royce & Associates LP now owns 75,605 shares of the company's stock worth $7,349,000 after buying an additional 46,706 shares during the period. Oak Thistle LLC acquired a new position in shares of Ollie's Bargain Outlet in the 4th quarter worth approximately $1,345,000. JPMorgan Chase & Co. boosted its position in shares of Ollie's Bargain Outlet by 79.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company's stock worth $18,400,000 after purchasing an additional 83,882 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Ollie's Bargain Outlet by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company's stock valued at $73,256,000 after purchasing an additional 5,438 shares during the last quarter. Finally, Fred Alger Management LLC raised its position in Ollie's Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company's stock valued at $75,052,000 after purchasing an additional 83,063 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OLLI. Craig Hallum raised their price target on Ollie's Bargain Outlet from $107.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised their target price on Ollie's Bargain Outlet from $105.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Wells Fargo & Company boosted their price target on shares of Ollie's Bargain Outlet from $95.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 11th. Loop Capital raised their price objective on shares of Ollie's Bargain Outlet from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, December 23rd. Finally, Truist Financial lifted their price objective on shares of Ollie's Bargain Outlet from $109.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $118.62.

Ollie's Bargain Outlet Stock Performance

NASDAQ OLLI traded up $0.95 on Friday, reaching $112.91. The stock had a trading volume of 528,657 shares, compared to its average volume of 1,173,437. The stock has a market cap of $6.92 billion, a P/E ratio of 33.70, a price-to-earnings-growth ratio of 2.75 and a beta of 0.82. Ollie's Bargain Outlet Holdings, Inc. has a 12-month low of $68.05 and a 12-month high of $120.03. The business's 50-day moving average price is $106.18 and its 200 day moving average price is $99.12.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $517.43 million during the quarter, compared to the consensus estimate of $518.83 million. Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. Ollie's Bargain Outlet's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, sell-side analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Insider Activity

In related news, SVP Larry Kraus sold 10,646 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $115.58, for a total transaction of $1,230,464.68. Following the transaction, the senior vice president now owns 1,905 shares of the company's stock, valued at $220,179.90. This represents a 84.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas Hendrickson sold 6,250 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $114.74, for a total transaction of $717,125.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,771 shares of company stock valued at $9,650,832. Company insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Profile

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.