Truist Financial Corp Purchases 33,185 Shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Truist Financial Corp boosted its stake in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 195.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,187 shares of the company's stock after buying an additional 33,185 shares during the period. Truist Financial Corp owned approximately 0.08% of Ollie's Bargain Outlet worth $5,507,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Congress Asset Management Co. grew its stake in shares of Ollie's Bargain Outlet by 181.6% during the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company's stock valued at $210,307,000 after purchasing an additional 1,235,994 shares during the period. State Street Corp boosted its holdings in shares of Ollie's Bargain Outlet by 2.1% in the 3rd quarter. State Street Corp now owns 1,871,047 shares of the company's stock worth $181,866,000 after purchasing an additional 38,203 shares during the period. Geode Capital Management LLC boosted its stake in shares of Ollie's Bargain Outlet by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company's stock worth $104,860,000 after purchasing an additional 9,492 shares during the period. Geneva Capital Management LLC lifted its stake in shares of Ollie's Bargain Outlet by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company's stock worth $102,106,000 after acquiring an additional 13,369 shares during the last quarter. Finally, Fred Alger Management LLC lifted its holdings in Ollie's Bargain Outlet by 12.1% during the 3rd quarter. Fred Alger Management LLC now owns 772,145 shares of the company's stock valued at $75,052,000 after buying an additional 83,063 shares in the last quarter.

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Insider Buying and Selling

In other news, SVP Larry Kraus sold 10,646 shares of the stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 1,905 shares of the company's stock, valued at approximately $220,179.90. This represents a 84.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James J. Comitale sold 5,325 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total transaction of $606,783.75. Following the completion of the transaction, the senior vice president now directly owns 3,140 shares of the company's stock, valued at $357,803. This trade represents a 62.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,939 shares of company stock valued at $8,745,031. Company insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Stock Performance

Shares of NASDAQ:OLLI traded up $1.90 during mid-day trading on Wednesday, hitting $100.90. 553,848 shares of the company traded hands, compared to its average volume of 932,781. The firm has a market cap of $6.18 billion, a P/E ratio of 30.22, a PEG ratio of 2.21 and a beta of 0.81. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $120.03. The firm's 50 day simple moving average is $108.36 and its 200 day simple moving average is $100.44.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $517.43 million for 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 quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. Equities research analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Jefferies Financial Group lowered Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and cut their target price for the company from $125.00 to $111.00 in a research note on Tuesday, February 4th. Citigroup raised Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and raised their price objective for the stock from $64.00 to $133.00 in a research report on Wednesday, December 18th. Piper Sandler raised their price target 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. JPMorgan Chase & Co. upped their target price on 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. Finally, Bank of America increased their price objective on shares of Ollie's Bargain Outlet from $115.00 to $130.00 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 issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Ollie's Bargain Outlet currently has an average rating of "Moderate Buy" and a consensus price target of $118.07.

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.