Blueshift Asset Management LLC Lowers Holdings in Ollie’s Bargain Outlet Holdings, Inc. $OLLI

Blueshift Asset Management LLC reduced its holdings in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 26.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 22,947 shares of the company’s stock after selling 8,043 shares during the quarter. Ollie’s Bargain Outlet accounts for about 0.9% of Blueshift Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. Blueshift Asset Management LLC’s holdings in Ollie’s Bargain Outlet were worth $3,024,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of OLLI. Federated Hermes Inc. lifted its position in shares of Ollie’s Bargain Outlet by 24.8% during the first quarter. Federated Hermes Inc. now owns 25,284 shares of the company’s stock worth $2,942,000 after acquiring an additional 5,029 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Ollie’s Bargain Outlet by 9.0% during the 1st quarter. Natixis Advisors LLC now owns 78,022 shares of the company’s stock valued at $9,079,000 after purchasing an additional 6,431 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Ollie’s Bargain Outlet by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,565 shares of the company’s stock worth $531,000 after purchasing an additional 146 shares in the last quarter. Geneva Capital Management LLC boosted its stake in Ollie’s Bargain Outlet by 1.1% in the 1st quarter. Geneva Capital Management LLC now owns 1,049,459 shares of the company’s stock worth $122,115,000 after purchasing an additional 10,913 shares during the period. Finally, Intrust Bank NA purchased a new position in Ollie’s Bargain Outlet during the 1st quarter valued at about $607,000.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI opened at $121.65 on Tuesday. Ollie’s Bargain Outlet Holdings, Inc. has a fifty-two week low of $94.15 and a fifty-two week high of $141.74. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 2.51 and a beta of 0.44. The firm has a 50 day moving average price of $125.21 and a 200-day moving average price of $126.88.

Insider Buying and Selling at Ollie’s Bargain Outlet

In other news, SVP Larry Kraus sold 8,921 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $130.31, for a total transaction of $1,162,495.51. Following the transaction, the senior vice president directly owned 3,679 shares of the company’s stock, valued at approximately $479,410.49. This trade represents a 70.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John W. Swygert sold 107,058 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $132.87, for a total value of $14,224,796.46. Following the completion of the transaction, the chairman owned 48,200 shares in the company, valued at approximately $6,404,334. This represents a 68.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 128,890 shares of company stock valued at $17,057,659. 0.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OLLI shares. Bank of America increased their price target on shares of Ollie’s Bargain Outlet from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ollie’s Bargain Outlet in a research note on Wednesday, October 8th. Wells Fargo & Company raised their price target on shares of Ollie’s Bargain Outlet from $105.00 to $130.00 and gave the company an “equal weight” rating in a report on Friday, August 29th. Craig Hallum set a $156.00 price target on shares of Ollie’s Bargain Outlet in a report on Friday, August 29th. Finally, KeyCorp increased their price objective on Ollie’s Bargain Outlet from $145.00 to $154.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.38.

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.