KLP Kapitalforvaltning AS Makes New $1.64 Million Investment in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

KLP Kapitalforvaltning AS purchased a new stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the fourth quarter, Holdings Channel.com reports. The firm purchased 14,900 shares of the company’s stock, valued at approximately $1,635,000.

Other institutional investors have also recently made changes to their positions in the company. Congress Asset Management Co. raised its stake in Ollie’s Bargain Outlet by 181.6% in the fourth 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 in the last quarter. Stephens Investment Management Group LLC purchased a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter valued at $78,356,000. Holocene Advisors LP lifted its holdings in shares of Ollie’s Bargain Outlet by 10,159.3% during the 3rd quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock worth $45,821,000 after acquiring an additional 466,818 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Ollie’s Bargain Outlet in the fourth quarter worth $48,633,000. Finally, Wellington Management Group LLP increased its stake in Ollie’s Bargain Outlet by 155.8% in the third quarter. Wellington Management Group LLP now owns 483,044 shares of the company’s stock valued at $46,952,000 after acquiring an additional 294,217 shares during the last quarter.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI stock opened at $113.24 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a fifty-two week low of $68.05 and a fifty-two week high of $120.03. The firm has a market cap of $6.94 billion, a P/E ratio of 33.80, a P/E/G ratio of 2.21 and a beta of 0.83. The business’s 50 day moving average price is $105.96 and its 200-day moving average price is $102.24.

Ollie’s Bargain Outlet (NASDAQ:OLLI) 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. As a group, equities analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on OLLI. Morgan Stanley upped their price objective on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. StockNews.com cut shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. Piper Sandler lowered their price objective on shares of Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Wells Fargo & Company increased their target price on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group downgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and lowered their price target for the stock from $125.00 to $111.00 in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Ollie’s Bargain Outlet has a consensus rating of “Moderate Buy” and a consensus price target of $123.08.

Insider Buying and Selling

In related news, CFO Robert F. Helm sold 2,145 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $108.50, for a total transaction of $232,732.50. Following the sale, the chief financial officer now directly owns 3,888 shares in the company, valued at $421,848. The trade was a 35.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman John W. Swygert sold 5,232 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $112.51, for a total value of $588,652.32. Following the completion of the transaction, the chairman now owns 48,200 shares of the company’s stock, valued at approximately $5,422,982. This trade represents a 9.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,153 shares of company stock valued at $2,200,844 over the last three months. Corporate insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet 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.