Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 130.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 436,366 shares of the company’s stock after purchasing an additional 247,065 shares during the period. JPMorgan Chase & Co. owned approximately 0.71% of Ollie’s Bargain Outlet worth $47,882,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in OLLI. Congress Asset Management Co. boosted its position 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 valued at $210,307,000 after buying an additional 1,235,994 shares during the period. Stephens Investment Management Group LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the fourth quarter valued at $78,356,000. Raymond James Financial Inc. purchased a new position in Ollie’s Bargain Outlet in the fourth quarter valued at $48,633,000. Wellington Management Group LLP grew its stake in 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 worth $46,952,000 after purchasing an additional 294,217 shares in the last quarter. Finally, Congress Wealth Management LLC DE increased its holdings in Ollie’s Bargain Outlet by 137.7% during the 4th quarter. Congress Wealth Management LLC DE now owns 262,157 shares of the company’s stock worth $28,766,000 after purchasing an additional 151,868 shares during the period.

Analyst Ratings Changes

OLLI has been the subject of several recent research reports. Bank of America lifted their price objective on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. 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. Royal Bank of Canada boosted their price target 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. JPMorgan Chase & Co. raised their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Truist Financial boosted their target price on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. 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 stock. According to data from MarketBeat.com, Ollie’s Bargain Outlet has an average rating of “Moderate Buy” and an average target price of $123.08.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, CFO Robert F. Helm sold 2,145 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $108.50, for a total transaction of $232,732.50. Following the completion of the transaction, the chief financial officer now owns 3,888 shares in the company, valued at approximately $421,848. This represents a 35.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Der Valk Eric Van sold 1,153 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $110.85, for a total transaction of $127,810.05. Following the completion of the sale, the chief executive officer now owns 6,768 shares of the company’s stock, valued at $750,232.80. This trade represents a 14.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,254 shares of company stock valued at $3,812,800. Insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet Stock Down 3.6 %

Shares of NASDAQ OLLI opened at $113.29 on Friday. The business has a 50-day moving average price of $106.42 and a 200 day moving average price of $102.93. The stock has a market cap of $6.94 billion, a PE ratio of 33.82, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $70.17 and a 52-week high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). The firm had revenue of $667.10 million during the quarter, compared to analyst estimates 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 revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 earnings per share. Sell-side analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Ollie’s Bargain Outlet 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.