Verition Fund Management LLC Purchases New Position in Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI)

Verition Fund Management LLC acquired a new stake in Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,330 shares of the company’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC grew its position in shares of Ollie’s Bargain Outlet by 35.9% during the 2nd quarter. FMR LLC now owns 3,369,518 shares of the company’s stock worth $329,034,000 after buying an additional 889,351 shares during the period. Bank of New York Mellon Corp boosted its stake in Ollie’s Bargain Outlet by 81.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,853,488 shares of the company’s stock worth $85,891,000 after acquiring an additional 834,383 shares during the last quarter. State Street Corp boosted its stake in Ollie’s Bargain Outlet by 2.8% during the 1st quarter. State Street Corp now owns 1,323,233 shares of the company’s stock worth $61,319,000 after acquiring an additional 35,468 shares during the last quarter. Riverbridge Partners LLC boosted its stake in Ollie’s Bargain Outlet by 1.6% during the 2nd quarter. Riverbridge Partners LLC now owns 974,057 shares of the company’s stock worth $95,117,000 after acquiring an additional 15,130 shares during the last quarter. Finally, Fred Alger Management LLC boosted its stake in Ollie’s Bargain Outlet by 12.4% during the 1st quarter. Fred Alger Management LLC now owns 843,504 shares of the company’s stock worth $39,088,000 after acquiring an additional 92,933 shares during the last quarter.

Several research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Ollie’s Bargain Outlet from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, September 4th. Bank of America restated a “buy” rating and set a $94.00 target price (up from $82.00) on shares of Ollie’s Bargain Outlet in a report on Tuesday, May 26th. Craig Hallum boosted their target price on shares of Ollie’s Bargain Outlet from $120.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Royal Bank of Canada boosted their target price on shares of Ollie’s Bargain Outlet from $101.00 to $111.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Finally, BidaskClub downgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating in a report on Tuesday, September 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $98.63.

OLLI opened at $87.92 on Wednesday. Ollie’s Bargain Outlet Holdings Inc has a twelve month low of $28.83 and a twelve month high of $112.58. The company has a 50-day simple moving average of $100.72 and a 200 day simple moving average of $80.14. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 1.35 and a beta of 1.20.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Thursday, August 27th. The company reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.14. Ollie’s Bargain Outlet had a net margin of 12.90% and a return on equity of 16.13%. The business had revenue of $529.30 million during the quarter, compared to analysts’ expectations of $513.88 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. Ollie’s Bargain Outlet’s revenue was up 58.5% compared to the same quarter last year. Sell-side analysts anticipate that Ollie’s Bargain Outlet Holdings Inc will post 3.04 EPS for the current fiscal year.

In other news, SVP Kevin Mclain sold 4,076 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $110.69, for a total value of $451,172.44. Following the completion of the transaction, the senior vice president now owns 7,753 shares of the company’s stock, valued at $858,179.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott Osborne sold 4,219 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $102.70, for a total transaction of $433,291.30. Following the completion of the transaction, the vice president now directly owns 1,798 shares of the company’s stock, valued at approximately $184,654.60. The disclosure for this sale can be found here. 16.46% of the stock is currently owned by corporate insiders.

Ollie’s Bargain Outlet Profile

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise. The company offers food products, housewares, books and stationery, bed and bath products, health and beauty products, floor coverings, electronics, and toys; and other products, including hardware, personal health care, candy, clothing, sporting, pet and lawn, and garden products.

Featured Article: Balance Sheet

Institutional Ownership by Quarter for Ollie`s Bargain Outlet (NASDAQ:OLLI)

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