Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Shares Sold by Millrace Asset Group Inc.

Millrace Asset Group Inc. lowered its stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 72.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,757 shares of the company’s stock after selling 15,250 shares during the quarter. Millrace Asset Group Inc.’s holdings in Ollie’s Bargain Outlet were worth $560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Geneva Capital Management LLC grew its stake in 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 valued at $102,106,000 after purchasing an additional 13,369 shares during the last quarter. American Century Companies Inc. boosted its position in Ollie’s Bargain Outlet by 5.6% in the second quarter. American Century Companies Inc. now owns 780,064 shares of the company’s stock valued at $76,579,000 after buying an additional 41,605 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 worth $73,256,000 after buying an additional 5,438 shares during the period. Congress Asset Management Co. raised its position in Ollie’s Bargain Outlet by 12.1% during the 3rd quarter. Congress Asset Management Co. now owns 680,590 shares of the company’s stock worth $66,153,000 after buying an additional 73,396 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in Ollie’s Bargain Outlet by 953.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock valued at $55,637,000 after acquiring an additional 512,928 shares during the period.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ:OLLI opened at $100.58 on Tuesday. The business’s 50 day moving average price is $94.79 and its 200-day moving average price is $92.49. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $68.05 and a 1 year high of $104.98. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.84.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $578.38 million for the quarter, compared to the consensus estimate of $561.60 million. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. On average, sell-side analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.27 earnings per share for the current year.

Insider Buying and Selling

In other Ollie’s Bargain Outlet news, SVP Kevin Mclain sold 15,000 shares of Ollie’s Bargain Outlet stock in a transaction 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 owns 10,610 shares of the company’s stock, valued at $1,050,283.90. The trade was a 58.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Der Valk Eric Van sold 7,479 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the sale, the president now directly owns 5,615 shares of the company’s stock, valued at $563,296.80. The trade was a 57.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,880 shares of company stock worth $2,462,470. Insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OLLI. UBS Group raised their target price on shares of Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Loop Capital reiterated a “buy” rating and set a $110.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Friday, September 20th. Piper Sandler reaffirmed an “overweight” rating and set a $107.00 target price on shares of Ollie’s Bargain Outlet in a report on Friday, October 4th. JPMorgan Chase & Co. reduced 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 report on Friday, August 30th. Finally, Gordon Haskett upgraded Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and upped their price objective for the stock from $105.00 to $107.00 in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.