Envestnet Asset Management Inc. Sells 43,526 Shares of Ollie’s Bargain Outlet Holdings, Inc. $OLLI

Envestnet Asset Management Inc. cut its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 9.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 402,630 shares of the company’s stock after selling 43,526 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.66% of Ollie’s Bargain Outlet worth $51,698,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. boosted its stake in shares of Ollie’s Bargain Outlet by 44.8% in the 2nd quarter. Assetmark Inc. now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 82 shares in the last quarter. Blue Barn Wealth LLC lifted its stake in Ollie’s Bargain Outlet by 2.8% in the 2nd quarter. Blue Barn Wealth LLC now owns 3,114 shares of the company’s stock valued at $410,000 after purchasing an additional 86 shares during the last quarter. MAI Capital Management boosted its position in Ollie’s Bargain Outlet by 28.5% in the second quarter. MAI Capital Management now owns 397 shares of the company’s stock valued at $52,000 after buying an additional 88 shares in the last quarter. Campbell Newman Asset Management Inc. boosted its position in Ollie’s Bargain Outlet by 0.4% in the third quarter. Campbell Newman Asset Management Inc. now owns 20,850 shares of the company’s stock valued at $2,677,000 after buying an additional 90 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Ollie’s Bargain Outlet by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 14,458 shares of the company’s stock worth $1,905,000 after buying an additional 91 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Piper Sandler reissued an “overweight” rating on shares of Ollie’s Bargain Outlet in a report on Wednesday, December 10th. Citigroup dropped their target price on Ollie’s Bargain Outlet from $150.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Morgan Stanley reduced their price target on Ollie’s Bargain Outlet from $145.00 to $130.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 10th. KeyCorp reaffirmed an “overweight” rating on shares of Ollie’s Bargain Outlet in a research note on Wednesday, December 10th. Finally, Craig Hallum reiterated a “buy” rating and set a $157.00 target price on shares of Ollie’s Bargain Outlet in a research report on Wednesday, December 10th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Ollie’s Bargain Outlet presently has an average rating of “Moderate Buy” and a consensus target price of $142.14.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $112.54 on Tuesday. Ollie’s Bargain Outlet Holdings, Inc. has a 52 week low of $94.88 and a 52 week high of $141.74. The firm’s fifty day moving average is $113.00 and its 200-day moving average is $123.50. The firm has a market cap of $6.90 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.72 and a beta of 0.51.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Tuesday, December 9th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.04. The business had revenue of $613.62 million for the quarter, compared to analyst estimates of $613.63 million. Ollie’s Bargain Outlet had a net margin of 8.81% and a return on equity of 12.86%. Ollie’s Bargain Outlet’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 earnings per share. Ollie’s Bargain Outlet has set its FY 2025 guidance at 3.810-3.870 EPS. As a group, sell-side analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

About Ollie’s Bargain Outlet

Ollie’s Bargain Outlet is an American discount retailer specializing in closeout merchandise and surplus inventory across a broad range of categories. The company operates a no-frills retail format that offers branded and private-label products at significant markdowns. Its merchandise mix typically includes housewares, electronics, health and beauty items, food products, beauty supplies, books, toys, and seasonal goods.

Founded in 1982 by Oliver E. “Ollie” Rosenberg, the company is headquartered in Harrisburg, Pennsylvania.