Assenagon Asset Management S.A. Sells 59,635 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Assenagon Asset Management S.A. decreased its position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 55.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,970 shares of the company’s stock after selling 59,635 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Ollie’s Bargain Outlet were worth $5,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ollie’s Bargain Outlet by 489.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock worth $25,000 after acquiring an additional 191 shares during the last quarter. Bogart Wealth LLC bought a new stake in Ollie’s Bargain Outlet in the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB increased its stake in Ollie’s Bargain Outlet by 337.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock worth $26,000 after acquiring an additional 182 shares during the last quarter. Blue Trust Inc. increased its stake in Ollie’s Bargain Outlet by 55.2% in the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock worth $31,000 after acquiring an additional 101 shares during the last quarter. Finally, City Holding Co. bought a new stake in Ollie’s Bargain Outlet in the 1st quarter worth approximately $31,000.

Wall Street Analyst Weigh In

OLLI has been the topic of several analyst reports. Morgan Stanley boosted their target price on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Piper Sandler reissued an “overweight” rating and set a $123.00 target price (down previously from $124.00) on shares of Ollie’s Bargain Outlet in a research report on Wednesday, June 4th. Wall Street Zen raised Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. KeyCorp reissued an “overweight” rating and set a $135.00 target price on shares of Ollie’s Bargain Outlet in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. boosted their target price on Ollie’s Bargain Outlet from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $124.50.

Insider Buying and Selling

In related news, Chairman John W. Swygert sold 6,526 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $107.87, for a total value of $703,959.62. Following the transaction, the chairman now owns 53,432 shares in the company, valued at approximately $5,763,709.84. This represents a 10.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert F. Helm sold 312 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $107.17, for a total transaction of $33,437.04. Following the completion of the transaction, the chief financial officer now owns 3,273 shares in the company, valued at approximately $350,767.41. This trade represents a 8.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,897 shares of company stock worth $4,227,970 in the last three months. 0.75% of the stock is owned by insiders.

Ollie’s Bargain Outlet Trading Up 0.2%

Shares of OLLI stock opened at $114.48 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a twelve month low of $86.05 and a twelve month high of $122.15. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of 34.17, a P/E/G ratio of 2.21 and a beta of 0.37. The stock has a fifty day simple moving average of $111.84 and a two-hundred day simple moving average of $108.88.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.05. The business had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $565.04 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 EPS. Research analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

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.