Resolute Capital Asset Partners LLC Makes New Investment in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Resolute Capital Asset Partners LLC bought a new stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 20,000 shares of the company’s stock, valued at approximately $1,963,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Ollie’s Bargain Outlet by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 5,882,908 shares of the company’s stock worth $468,103,000 after purchasing an additional 343,903 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of Ollie’s Bargain Outlet by 4.1% during the 1st quarter. Wasatch Advisors LP now owns 3,917,575 shares of the company’s stock valued at $311,721,000 after acquiring an additional 156,095 shares in the last quarter. Capital Research Global Investors bought a new stake in Ollie’s Bargain Outlet in the first quarter valued at about $136,978,000. Norges Bank acquired a new position in Ollie’s Bargain Outlet in the fourth quarter worth about $59,215,000. Finally, American Century Companies Inc. lifted its stake in Ollie’s Bargain Outlet by 5.6% during the second quarter. American Century Companies Inc. now owns 780,064 shares of the company’s stock worth $76,579,000 after purchasing an additional 41,605 shares during the period.

Insider Transactions at Ollie’s Bargain Outlet

In related news, SVP James J. Comitale sold 2,153 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total value of $224,278.01. Following the transaction, the senior vice president now directly owns 2,732 shares in the company, valued at $284,592.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Thomas Hendrickson sold 4,500 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $97.54, for a total transaction of $438,930.00. Following the completion of the transaction, the director now directly owns 5,659 shares in the company, valued at approximately $551,978.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James J. Comitale sold 2,153 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total transaction of $224,278.01. Following the completion of the sale, the senior vice president now owns 2,732 shares in the company, valued at $284,592.44. The disclosure for this sale can be found here. Insiders sold a total of 21,653 shares of company stock worth $2,148,058 in the last quarter. 0.87% of the stock is owned by company insiders.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $98.13 on Thursday. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 30.96, a P/E/G ratio of 2.45 and a beta of 0.84. The stock’s fifty day moving average price is $95.53 and its two-hundred day moving average price is $85.88. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $104.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $578.38 million for the quarter, compared to analyst estimates of $561.60 million. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. On average, equities analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Morgan Stanley increased their price objective on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 6th. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and lifted their price objective for the company from $105.00 to $107.00 in a report on Monday, August 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $107.00 target price on shares of Ollie’s Bargain Outlet in a report on Friday, August 30th. Finally, Bank of America lifted their price target on shares of Ollie’s Bargain Outlet from $92.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.33.

About Ollie’s Bargain Outlet

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.