Massachusetts Financial Services Co. MA Sells 29,432 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Massachusetts Financial Services Co. MA lessened its position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 315,476 shares of the company’s stock after selling 29,432 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Ollie’s Bargain Outlet were worth $36,709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Ollie’s Bargain Outlet by 1.2% in 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 last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Ollie’s Bargain Outlet by 173.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock worth $509,671,000 after buying an additional 2,948,393 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Ollie’s Bargain Outlet by 1.1% during the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company’s stock valued at $180,558,000 after buying an additional 17,302 shares during the period. Alliancebernstein L.P. grew its holdings 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 during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Ollie’s Bargain Outlet by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,242,332 shares of the company’s stock valued at $136,325,000 after purchasing an additional 24,890 shares in the last quarter.

Insider Activity 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

Several analysts have recently weighed in on OLLI shares. KeyCorp set a $145.00 price target on shares of Ollie’s Bargain Outlet and gave the company an “overweight” rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. increased their price objective 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. Wall Street Zen raised 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 stock a “neutral” rating in a research note on Thursday, March 20th. Finally, Piper Sandler reissued an “overweight” rating and set a $123.00 price objective (down previously from $124.00) on shares of Ollie’s Bargain Outlet in a report on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.21.

Ollie’s Bargain Outlet Trading Up 3.6%

Shares of NASDAQ OLLI opened at $131.89 on Friday. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 2.87 and a beta of 0.41. The business has a 50-day moving average of $120.52 and a 200-day moving average of $111.83. Ollie’s Bargain Outlet Holdings, Inc. has a 12 month low of $86.05 and a 12 month high of $134.59.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.05. The firm had revenue of $576.77 million during the quarter, compared to the consensus estimate of $565.04 million. Ollie’s Bargain Outlet had a return on equity of 12.27% and a net margin of 8.59%. The company’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $0.73 earnings per share. On average, analysts predict 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 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.