Raymond James Financial Inc. Buys Shares of 443,198 Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Raymond James Financial Inc. bought a new stake in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 443,198 shares of the company's stock, valued at approximately $48,633,000. Raymond James Financial Inc. owned approximately 0.72% of Ollie's Bargain Outlet at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royce & Associates LP grew its stake in Ollie's Bargain Outlet by 161.6% during the 3rd quarter. Royce & Associates LP now owns 75,605 shares of the company's stock valued at $7,349,000 after acquiring an additional 46,706 shares in the last quarter. Oak Thistle LLC purchased a new position in Ollie's Bargain Outlet during the 4th quarter valued at about $1,345,000. JPMorgan Chase & Co. grew its stake in Ollie's Bargain Outlet by 79.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company's stock valued at $18,400,000 after acquiring an additional 83,882 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Ollie's Bargain Outlet by 36.5% in the 4th quarter. Van ECK Associates Corp now owns 46,659 shares of the company's stock valued at $5,120,000 after buying an additional 12,476 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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 buying an additional 5,438 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently commented on OLLI. Wells Fargo & Company boosted their price target on Ollie's Bargain Outlet from $95.00 to $105.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 11th. Piper Sandler boosted their target price on Ollie's Bargain Outlet from $107.00 to $126.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. StockNews.com lowered Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a report on Tuesday, February 4th. Citigroup upgraded Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and upped their price target for the stock from $64.00 to $133.00 in a report on Wednesday, December 18th. Finally, Royal Bank of Canada upped their target price on Ollie's Bargain Outlet from $130.00 to $133.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Ollie's Bargain Outlet currently has a consensus rating of "Moderate Buy" and an average target price of $118.29.

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Ollie's Bargain Outlet Trading Up 2.3 %

NASDAQ:OLLI opened at $101.08 on Wednesday. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $68.05 and a 1-year high of $120.03. The business's 50-day moving average price is $105.75 and its two-hundred day moving average price is $101.00. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.21 and a beta of 0.83.

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

Insider Buying and Selling at Ollie's Bargain Outlet

In other news, Director Thomas Hendrickson sold 6,250 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $114.74, for a total transaction of $717,125.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Larry Kraus sold 10,646 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $115.58, for a total value of $1,230,464.68. Following the sale, the senior vice president now directly owns 1,905 shares in the company, valued at approximately $220,179.90. This represents a 84.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Company 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.

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