Amalgamated Bank Cuts Stock Holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Amalgamated Bank lowered its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,463 shares of the company’s stock after selling 2,775 shares during the period. Amalgamated Bank owned approximately 0.06% of Ollie’s Bargain Outlet worth $3,383,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. WINTON GROUP Ltd increased its position in shares of Ollie’s Bargain Outlet by 23.3% in the second quarter. WINTON GROUP Ltd now owns 16,108 shares of the company’s stock worth $1,581,000 after acquiring an additional 3,039 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Ollie’s Bargain Outlet by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 237,267 shares of the company’s stock worth $23,292,000 after acquiring an additional 13,460 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Ollie’s Bargain Outlet by 32.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 36,665 shares of the company’s stock worth $3,599,000 after acquiring an additional 8,948 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Ollie’s Bargain Outlet by 25.2% in the second quarter. Federated Hermes Inc. now owns 27,889 shares of the company’s stock worth $2,738,000 after acquiring an additional 5,618 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC increased its position in shares of Ollie’s Bargain Outlet by 17.0% in the second quarter. Prevail Innovative Wealth Advisors LLC now owns 24,948 shares of the company’s stock worth $2,449,000 after acquiring an additional 3,622 shares in the last quarter.

Analyst Upgrades and Downgrades

OLLI has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price target on shares of Ollie’s Bargain Outlet from $101.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, August 30th. JPMorgan Chase & Co. lowered their price target on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Truist Financial raised their price target on shares of Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the company a “buy” rating in a report on Friday, July 12th. Wells Fargo & Company raised their price target on shares of Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. Finally, StockNews.com lowered shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and an average target price of $103.33.

Insider Activity at Ollie’s Bargain Outlet

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 shares were sold at an average price of $104.17, for a total transaction of $224,278.01. Following the completion of the transaction, the senior vice president now directly owns 2,732 shares of the company’s stock, valued at approximately $284,592.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 stock was sold at an average price of $104.17, for a total transaction of $224,278.01. Following the sale, the senior vice president now owns 2,732 shares of the company’s stock, valued at $284,592.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kevin Mclain sold 15,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.99, for a total value of $1,484,850.00. Following the completion of the transaction, the senior vice president now directly owns 10,610 shares of the company’s stock, valued at $1,050,283.90. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by insiders.

Ollie’s Bargain Outlet Stock Performance

Ollie’s Bargain Outlet stock opened at $101.68 on Tuesday. The firm’s 50-day moving average is $95.38 and its 200-day moving average is $86.45. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $68.05 and a 1 year high of $104.98. The company has a market cap of $6.22 billion, a P/E ratio of 32.08, a PEG ratio of 2.48 and a beta of 0.84.

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

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.