Kayne Anderson Rudnick Investment Management LLC Sells 180,446 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Kayne Anderson Rudnick Investment Management LLC decreased its position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 9.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,788,018 shares of the company’s stock after selling 180,446 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 2.92% of Ollie’s Bargain Outlet worth $175,530,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in OLLI. Signaturefd LLC raised its position in Ollie’s Bargain Outlet by 6.4% during the 2nd quarter. Signaturefd LLC now owns 1,727 shares of the company’s stock valued at $170,000 after purchasing an additional 104 shares during the last quarter. Vista Investment Partners LLC raised its holdings in shares of Ollie’s Bargain Outlet by 1.8% during the first quarter. Vista Investment Partners LLC now owns 11,087 shares of the company’s stock valued at $882,000 after acquiring an additional 191 shares in the last quarter. Bridge City Capital LLC lifted its stake in Ollie’s Bargain Outlet by 0.8% in the first quarter. Bridge City Capital LLC now owns 31,301 shares of the company’s stock worth $2,491,000 after acquiring an additional 240 shares during the period. International Assets Investment Management LLC purchased a new stake in Ollie’s Bargain Outlet in the second quarter worth $25,000. Finally, Arizona State Retirement System boosted its holdings in Ollie’s Bargain Outlet by 1.5% in the second quarter. Arizona State Retirement System now owns 17,180 shares of the company’s stock valued at $1,687,000 after acquiring an additional 253 shares in the last quarter.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI stock opened at $98.99 on Friday. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 2.48 and a beta of 0.84. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $68.05 and a one year high of $104.98. The company’s 50-day moving average is $95.41 and its 200 day moving average is $86.11.

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

Insider Activity

In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 2,153 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $104.17, for a total value of $224,278.01. Following the completion of the transaction, the senior vice president now owns 2,732 shares of the company’s stock, valued at approximately $284,592.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP James J. Comitale sold 2,153 shares of Ollie’s Bargain Outlet 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 completion of the sale, 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 accessible through this hyperlink. Also, SVP Kevin Mclain sold 15,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the transaction, the senior vice president now owns 10,610 shares in the company, valued at approximately $1,050,283.90. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OLLI. Loop Capital reaffirmed a “buy” rating and issued a $110.00 target price on shares of Ollie’s Bargain Outlet in a research report on Friday. UBS Group raised their price objective on shares of Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Piper Sandler reiterated an “overweight” rating and set a $107.00 target price on shares of Ollie’s Bargain Outlet in a report on Friday, August 30th. Royal Bank of Canada lowered their target price on Ollie’s Bargain Outlet from $101.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Finally, StockNews.com lowered Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ollie’s Bargain Outlet presently has an average rating of “Moderate Buy” and a consensus target price of $103.33.

Ollie’s Bargain Outlet 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.