Capital Research Global Investors Sells 250,138 Shares of Ollie’s Bargain Outlet Holdings, Inc. $OLLI

Capital Research Global Investors lessened its position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 35.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 453,972 shares of the company’s stock after selling 250,138 shares during the period. Capital Research Global Investors owned approximately 0.74% of Ollie’s Bargain Outlet worth $58,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of OLLI. Private Trust Co. NA grew its position in shares of Ollie’s Bargain Outlet by 71.3% during the 3rd quarter. Private Trust Co. NA now owns 245 shares of the company’s stock valued at $31,000 after purchasing an additional 102 shares in the last quarter. Assetmark Inc. raised its position in shares of Ollie’s Bargain Outlet by 44.8% in the second quarter. Assetmark Inc. now owns 265 shares of the company’s stock worth $35,000 after buying an additional 82 shares in the last quarter. Shell Asset Management Co. bought a new stake in Ollie’s Bargain Outlet during the third quarter valued at $37,000. Smartleaf Asset Management LLC boosted its stake in Ollie’s Bargain Outlet by 125.0% during the third quarter. Smartleaf Asset Management LLC now owns 342 shares of the company’s stock valued at $45,000 after buying an additional 190 shares during the period. Finally, MAI Capital Management grew its position in Ollie’s Bargain Outlet by 28.5% during the second quarter. MAI Capital Management now owns 397 shares of the company’s stock worth $52,000 after buying an additional 88 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on OLLI. UBS Group lowered their price target on Ollie’s Bargain Outlet from $141.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. Morgan Stanley cut their price objective on Ollie’s Bargain Outlet from $145.00 to $130.00 and set an “equal weight” rating for the company in a report on Wednesday, December 10th. Royal Bank Of Canada set a $140.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Wednesday, December 10th. Loop Capital raised shares of Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $135.00 in a research note on Monday, December 22nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Ollie’s Bargain Outlet in a research report on Wednesday, December 10th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.14.

Insider Activity

In other news, Chairman John W. Swygert sold 1,126 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $112.06, for a total value of $126,179.56. Following the completion of the sale, the chairman owned 48,200 shares of the company’s stock, valued at approximately $5,401,292. This represents a 2.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.75% of the company’s stock.

Ollie’s Bargain Outlet Trading Down 3.1%

Shares of NASDAQ OLLI opened at $103.37 on Thursday. The stock’s 50-day moving average is $111.20 and its 200 day moving average is $119.40. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 1.63 and a beta of 0.53. Ollie’s Bargain Outlet Holdings, Inc. has a 1-year low of $98.19 and a 1-year high of $141.74.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, December 9th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. The business had revenue of $613.62 million during the quarter, compared to analyst estimates of $613.63 million. Ollie’s Bargain Outlet had a return on equity of 12.86% and a net margin of 8.81%.Ollie’s Bargain Outlet’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 earnings per share. On average, analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Ollie’s Bargain Outlet Profile

Ollie’s Bargain Outlet is an American discount retailer specializing in closeout merchandise and surplus inventory across a broad range of categories. The company operates a no-frills retail format that offers branded and private-label products at significant markdowns. Its merchandise mix typically includes housewares, electronics, health and beauty items, food products, beauty supplies, books, toys, and seasonal goods.

Founded in 1982 by Oliver E. “Ollie” Rosenberg, the company is headquartered in Harrisburg, Pennsylvania.