Tidal Investments LLC Invests $21.73 Million in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Tidal Investments LLC bought a new position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 198,060 shares of the company’s stock, valued at approximately $21,733,000. Tidal Investments LLC owned 0.32% of Ollie’s Bargain Outlet as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Ollie’s Bargain Outlet by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company’s stock worth $638,843,000 after buying an additional 70,496 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in Ollie’s Bargain Outlet by 173.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock valued at $509,671,000 after purchasing an additional 2,948,393 shares during the period. Congress Asset Management Co. lifted its position 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 during the period. Invesco Ltd. lifted its position in Ollie’s Bargain Outlet by 1.1% in the fourth quarter. Invesco Ltd. now owns 1,645,472 shares of the company’s stock valued at $180,558,000 after purchasing an additional 17,302 shares during the period. Finally, Alliancebernstein L.P. lifted its position in Ollie’s Bargain Outlet by 12.9% in the fourth quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company’s stock valued at $178,813,000 after purchasing an additional 186,313 shares during the period.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of 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. StockNews.com upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. UBS Group lifted their price target on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Jefferies Financial Group downgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and reduced their price target for the company from $125.00 to $111.00 in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada lifted their price target on shares of Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Five analysts have rated the stock with a hold rating and nine have assigned 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 target price of $123.08.

Ollie’s Bargain Outlet Price Performance

Shares of Ollie’s Bargain Outlet stock opened at $118.86 on Monday. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $72.22 and a 1 year high of $120.03. The company has a market capitalization of $7.30 billion, a P/E ratio of 35.48, a P/E/G ratio of 2.21 and a beta of 0.45. The business has a 50 day moving average price of $109.61 and a 200 day moving average price of $106.28.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company had revenue of $667.10 million for the quarter, compared to analyst estimates of $674.61 million. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, research analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insiders Place Their Bets

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

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.