JPMorgan Chase & Co. Acquires 83,882 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

JPMorgan Chase & Co. raised its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 79.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 189,301 shares of the company’s stock after buying an additional 83,882 shares during the quarter. JPMorgan Chase & Co. owned about 0.31% of Ollie’s Bargain Outlet worth $18,400,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. D. E. Shaw & Co. Inc. boosted its holdings in Ollie’s Bargain Outlet by 953.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock valued at $55,637,000 after acquiring an additional 512,928 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Ollie’s Bargain Outlet by 10,159.3% in the 3rd quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock worth $45,821,000 after purchasing an additional 466,818 shares during the period. Wellington Management Group LLP boosted its stake in shares of Ollie’s Bargain Outlet by 155.8% during the 3rd quarter. Wellington Management Group LLP now owns 483,044 shares of the company’s stock valued at $46,952,000 after purchasing an additional 294,217 shares in the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of Ollie’s Bargain Outlet during the third quarter valued at about $16,590,000. Finally, Victory Capital Management Inc. raised its stake in Ollie’s Bargain Outlet by 84.8% in the third quarter. Victory Capital Management Inc. now owns 313,836 shares of the company’s stock worth $30,505,000 after buying an additional 143,996 shares in the last quarter.

Insider Transactions at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 2,400 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $102.54, for a total transaction of $246,096.00. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $4,942,428. The trade was a 4.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Hendrickson sold 6,250 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $114.74, for a total value of $717,125.00. The disclosure for this sale can be found here. Insiders sold 90,172 shares of company stock worth $9,878,158 over the last quarter. 0.87% of the stock is currently owned by insiders.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $104.45 on Friday. The firm has a 50-day simple moving average of $103.37 and a two-hundred day simple moving average of $98.44. The firm has a market cap of $6.40 billion, a P/E ratio of 31.18, a P/E/G ratio of 2.79 and a beta of 0.82. Ollie’s Bargain Outlet Holdings, Inc. has a fifty-two week low of $68.05 and a fifty-two week high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $517.43 million during the quarter, compared to the consensus estimate of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. On average, equities research analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OLLI. Citigroup raised Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and lifted their price objective for the company from $64.00 to $133.00 in a research report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price target on shares of Ollie’s Bargain Outlet in a research report on Monday, December 23rd. Loop Capital increased their price objective on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. raised their price objective on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, StockNews.com raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research report on Saturday, December 28th. Four equities research analysts have rated the stock with a hold rating and ten have issued 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 an average price target of $118.62.

Ollie’s Bargain Outlet Company Profile

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.