Legacy Capital Wealth Partners LLC Reduces Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Legacy Capital Wealth Partners LLC lessened its holdings in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 11.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,511 shares of the company’s stock after selling 323 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Ollie’s Bargain Outlet were worth $292,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OLLI. HighTower Advisors LLC raised its stake in shares of Ollie’s Bargain Outlet by 37.4% during the 4th quarter. HighTower Advisors LLC now owns 16,406 shares of the company’s stock worth $1,800,000 after purchasing an additional 4,466 shares in the last quarter. Swiss National Bank grew its holdings in shares of Ollie’s Bargain Outlet by 0.9% during the 4th quarter. Swiss National Bank now owns 120,600 shares of the company’s stock worth $13,233,000 after purchasing an additional 1,100 shares in the last quarter. Natixis Advisors LLC grew its stake in Ollie’s Bargain Outlet by 151.8% during the fourth quarter. Natixis Advisors LLC now owns 71,591 shares of the company’s stock worth $7,856,000 after purchasing an additional 43,159 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Ollie’s Bargain Outlet by 166.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 14,101 shares of the company’s stock valued at $1,547,000 after purchasing an additional 8,804 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in Ollie’s Bargain Outlet by 86.2% in the fourth quarter. Corient Private Wealth LLC now owns 8,438 shares of the company’s stock worth $926,000 after buying an additional 3,906 shares during the last quarter.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI stock opened at $131.89 on Friday. The company has a 50 day moving average price of $120.52 and a 200 day moving average price of $111.83. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 40.58, a price-to-earnings-growth ratio of 2.87 and a beta of 0.41. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $86.05 and a one year high of $134.59.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Ollie’s Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The company had revenue of $576.77 million for the quarter, compared to the consensus estimate of $565.04 million. During the same period in the prior year, the company posted $0.73 EPS. The company’s revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Transactions at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CEO Der Valk Eric Van sold 728 shares of the company’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $112.85, for a total value of $82,154.80. Following the completion of the sale, the chief executive officer directly owned 7,761 shares in the company, valued at approximately $875,828.85. This represents a 8.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

OLLI has been the subject of several analyst reports. Truist Financial raised their price objective on shares of Ollie’s Bargain Outlet from $126.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. KeyCorp set a $145.00 target price on shares of Ollie’s Bargain Outlet and gave the stock an “overweight” rating in a report on Thursday, June 26th. Royal Bank Of Canada reissued an “outperform” rating and set a $133.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Wednesday, June 4th. Wall Street Zen upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Ollie’s Bargain Outlet from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and an average price target of $125.21.

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.