WCM Investment Management LLC Cuts Stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

WCM Investment Management LLC cut its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 157,148 shares of the company’s stock after selling 43,281 shares during the quarter. WCM Investment Management LLC owned approximately 0.26% of Ollie’s Bargain Outlet worth $17,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OLLI. Blue Trust Inc. lifted its position in shares of Ollie’s Bargain Outlet by 55.2% in the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock worth $31,000 after purchasing an additional 101 shares during the period. UMB Bank n.a. raised its stake in Ollie’s Bargain Outlet by 25.3% in the fourth quarter. UMB Bank n.a. now owns 545 shares of the company’s stock worth $60,000 after buying an additional 110 shares in the last quarter. Precision Wealth Strategies LLC lifted its holdings in Ollie’s Bargain Outlet by 3.2% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,889 shares of the company’s stock worth $427,000 after buying an additional 119 shares during the period. Trust Point Inc. boosted its position in Ollie’s Bargain Outlet by 1.0% during the 3rd quarter. Trust Point Inc. now owns 13,184 shares of the company’s stock valued at $1,281,000 after acquiring an additional 134 shares in the last quarter. Finally, FORA Capital LLC boosted its position in Ollie’s Bargain Outlet by 3.2% during the 3rd quarter. FORA Capital LLC now owns 4,800 shares of the company’s stock valued at $467,000 after acquiring an additional 148 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OLLI shares. Truist Financial upped their price objective on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. StockNews.com lowered shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. Jefferies Financial Group downgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and cut their price objective for the stock from $125.00 to $111.00 in a research report on Tuesday, February 4th. Piper Sandler increased their target price on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Loop Capital raised their target price on shares of 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.07.

Insider Buying and Selling

In related news, 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 transaction of $606,783.75. Following the sale, the senior vice president now directly owns 3,140 shares of the company’s stock, valued at $357,803. This trade represents a 62.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John W. Swygert sold 4,032 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $102.51, for a total value of $413,320.32. Following the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at approximately $4,940,982. This represents a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,771 shares of company stock valued at $9,650,832 over the last 90 days. Insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI stock opened at $104.71 on Monday. Ollie’s Bargain Outlet Holdings, Inc. has a fifty-two week low of $68.05 and a fifty-two week high of $120.03. The firm has a market capitalization of $6.42 billion, a PE ratio of 31.26, a P/E/G ratio of 2.33 and a beta of 0.81. The stock’s 50-day simple moving average is $109.01 and its 200-day simple moving average is $99.75.

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

About Ollie’s Bargain Outlet

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.