Bank of Nova Scotia Acquires 8,571 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Bank of Nova Scotia grew its stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 213.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,595 shares of the company’s stock after buying an additional 8,571 shares during the period. Bank of Nova Scotia’s holdings in Ollie’s Bargain Outlet were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in 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 valued at $638,843,000 after acquiring an additional 70,496 shares in the last quarter. Congress Asset Management Co. increased its stake in Ollie’s Bargain Outlet by 181.6% in the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock worth $210,307,000 after acquiring an additional 1,235,994 shares during the last quarter. Invesco Ltd. increased 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 worth $180,558,000 after purchasing an additional 17,302 shares during the last quarter. Alliancebernstein L.P. raised its stake in Ollie’s Bargain Outlet by 12.9% during 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 in the last quarter. Finally, Geode Capital Management LLC lifted its position in Ollie’s Bargain Outlet by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,082,660 shares of the company’s stock valued at $118,837,000 after purchasing an additional 4,116 shares during the last quarter.

Insider Activity at Ollie’s Bargain Outlet

In related news, Director Robert Fisch sold 6,250 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $108.08, for a total value of $675,500.00. Following the completion of the sale, the director now directly owns 22,159 shares in the company, valued at $2,394,944.72. The trade was a 22.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Der Valk Eric Van sold 1,153 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $110.85, for a total transaction of $127,810.05. Following the transaction, the chief executive officer now owns 6,768 shares in the company, valued at approximately $750,232.80. The trade was a 14.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,897 shares of company stock worth $4,227,970. Company insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on OLLI. Royal Bank of Canada boosted their target price on shares of Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Piper Sandler reduced their price objective on Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Morgan Stanley raised their price objective on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. StockNews.com downgraded Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and decreased their price target for the company from $125.00 to $111.00 in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.08.

Ollie’s Bargain Outlet Trading Up 1.0 %

Shares of OLLI opened at $114.42 on Monday. The firm has a fifty day moving average price of $106.14 and a 200-day moving average price of $103.38. The firm has a market capitalization of $7.01 billion, a P/E ratio of 34.16, a P/E/G ratio of 2.21 and a beta of 0.75. Ollie’s Bargain Outlet Holdings, Inc. has a 12-month low of $70.17 and a 12-month high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released 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). The company had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $674.61 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. Ollie’s Bargain Outlet’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $1.23 earnings per share. Analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current 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.