Primecap Management Co. CA Lowers Position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Primecap Management Co. CA lowered its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 10.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 483,100 shares of the company's stock after selling 57,900 shares during the quarter. Primecap Management Co. CA owned 0.79% of Ollie's Bargain Outlet worth $46,957,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Ollie's Bargain Outlet during the second quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new position in Ollie's Bargain Outlet during the 2nd quarter worth approximately $31,000. Crewe Advisors LLC bought a new position in Ollie's Bargain Outlet in the second quarter worth approximately $36,000. Versant Capital Management Inc acquired a new stake in Ollie's Bargain Outlet in the second quarter valued at approximately $38,000. Finally, GAMMA Investing LLC increased its holdings in shares of Ollie's Bargain Outlet by 686.7% during the second quarter. GAMMA Investing LLC now owns 472 shares of the company's stock valued at $46,000 after acquiring an additional 412 shares in the last quarter.

Insider Transactions at Ollie's Bargain Outlet

In related news, SVP Kevin Mclain sold 15,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the sale, the senior vice president now directly owns 10,610 shares in the company, valued at approximately $1,050,283.90. This represents a 58.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Der Valk Eric Van sold 7,479 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $100.32, for a total transaction of $750,293.28. Following the completion of the transaction, the president now owns 5,615 shares of the company's stock, valued at $563,296.80. This represents a 57.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,880 shares of company stock worth $2,462,470 in the last quarter. Insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Trading Up 4.3 %

Shares of OLLI stock traded up $3.86 during trading on Friday, hitting $94.61. The company's stock had a trading volume of 1,037,097 shares, compared to its average volume of 1,025,047. The business has a fifty day moving average of $94.87 and a 200-day moving average of $92.20. The company has a market cap of $5.80 billion, a PE ratio of 28.84, a P/E/G ratio of 2.22 and a beta of 0.84. Ollie's Bargain Outlet Holdings, Inc. has a 52 week low of $68.05 and a 52 week high of $104.98.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.78 earnings per share for the quarter, hitting analysts' consensus estimates of $0.78. Ollie's Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The company had revenue of $578.38 million for the quarter, compared to the consensus estimate of $561.60 million. During the same period in the previous year, the firm earned $0.67 EPS. The firm's quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OLLI. StockNews.com cut Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a report on Tuesday, October 22nd. Bank of America raised their price objective on shares of Ollie's Bargain Outlet from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Gordon Haskett upgraded shares of Ollie's Bargain Outlet from an "accumulate" rating to a "buy" rating and upped their target price for the stock from $105.00 to $107.00 in a report on Monday, August 26th. Royal Bank of Canada raised their price target on shares of Ollie's Bargain Outlet from $100.00 to $106.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut their price target on Ollie's Bargain Outlet from $113.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Ollie's Bargain Outlet has an average rating of "Moderate Buy" and an average target price of $104.92.

Ollie's Bargain Outlet Company 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.