CIBC Asset Management Inc Invests $205,000 in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

CIBC Asset Management Inc bought a new position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 1,870 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB raised its stake in Ollie’s Bargain Outlet by 337.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock valued at $26,000 after acquiring an additional 182 shares during the period. Bogart Wealth LLC bought a new stake in Ollie’s Bargain Outlet in the 4th quarter valued at about $26,000. Blue Trust Inc. raised its stake in Ollie’s Bargain Outlet by 55.2% in the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after acquiring an additional 101 shares during the period. UMB Bank n.a. raised its stake in Ollie’s Bargain Outlet by 25.3% in the 4th quarter. UMB Bank n.a. now owns 545 shares of the company’s stock valued at $60,000 after acquiring an additional 110 shares during the period. Finally, Park Place Capital Corp bought a new stake in Ollie’s Bargain Outlet in the 4th quarter valued at about $77,000.

Ollie’s Bargain Outlet Stock Performance

Shares of NASDAQ:OLLI opened at $100.89 on Thursday. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 2.21 and a beta of 0.81. The stock’s 50-day simple moving average is $108.09 and its two-hundred day simple moving average is $100.44. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. As a group, equities analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Transactions at Ollie’s Bargain Outlet

In other news, CEO John W. Swygert sold 2,400 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $102.54, for a total value of $246,096.00. Following the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $4,942,428. This trade represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James J. Comitale sold 5,325 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total value of $606,783.75. Following the completion of the transaction, the senior vice president now directly owns 3,140 shares in the company, valued at $357,803. This trade represents a 62.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,939 shares of company stock valued at $8,745,031 over the last quarter. 0.87% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OLLI. Loop Capital boosted their price objective on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 price objective on shares of Ollie’s Bargain Outlet in a report on Monday, December 23rd. JPMorgan Chase & Co. upped their target price on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. StockNews.com lowered Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Finally, Truist Financial increased their price objective on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.07.

Ollie’s Bargain Outlet Company 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.