Royal London Asset Management Ltd. Raises Stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Royal London Asset Management Ltd. increased its position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 257,707 shares of the company's stock after acquiring an additional 4,865 shares during the period. Royal London Asset Management Ltd. owned approximately 0.42% of Ollie's Bargain Outlet worth $28,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Ollie's Bargain Outlet in the fourth quarter worth $41,000. Xponance Inc. boosted its position in shares of Ollie's Bargain Outlet by 7.8% during the 4th quarter. Xponance Inc. now owns 7,129 shares of the company's stock valued at $782,000 after acquiring an additional 517 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of Ollie's Bargain Outlet during the fourth quarter worth about $239,000. Corient Private Wealth LLC increased its position in shares of Ollie's Bargain Outlet by 86.2% in the fourth quarter. Corient Private Wealth LLC now owns 8,438 shares of the company's stock worth $926,000 after purchasing an additional 3,906 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Ollie's Bargain Outlet by 166.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 14,101 shares of the company's stock valued at $1,547,000 after purchasing an additional 8,804 shares in the last quarter.

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Ollie's Bargain Outlet Trading Down 1.0 %

NASDAQ OLLI traded down $1.08 on Tuesday, hitting $107.14. The company's stock had a trading volume of 279,970 shares, compared to its average volume of 1,090,893. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $120.03. The firm has a market cap of $6.57 billion, a P/E ratio of 31.99, a PEG ratio of 2.21 and a beta of 0.83. The company's 50-day simple moving average is $105.30 and its 200 day simple moving average is $101.85.

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). Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company had revenue of $667.10 million during the quarter, compared to the consensus estimate of $674.61 million. During the same quarter last year, the firm earned $1.23 EPS. The business's revenue was up 2.8% on a year-over-year basis. On average, research analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Ollie's Bargain Outlet from $105.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. Craig Hallum lifted their price target on Ollie's Bargain Outlet from $107.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Truist Financial upped their price objective on Ollie's Bargain Outlet from $109.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Jefferies Financial Group cut Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and decreased their price objective for the company from $125.00 to $111.00 in a report on Tuesday, February 4th. Finally, Morgan Stanley upped their target price on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $123.08.

About Ollie's Bargain Outlet

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.