Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Shares Sold by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC decreased its holdings in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 27.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,540 shares of the company’s stock after selling 941 shares during the period. Cornerstone Investment Partners LLC’s holdings in Ollie’s Bargain Outlet were worth $279,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in OLLI. Congress Asset Management Co. lifted its position in Ollie’s Bargain Outlet by 181.6% in the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock valued at $210,307,000 after purchasing an additional 1,235,994 shares during the period. Stephens Investment Management Group LLC acquired a new stake in Ollie’s Bargain Outlet in the fourth quarter valued at about $78,356,000. Holocene Advisors LP lifted its position in Ollie’s Bargain Outlet by 10,159.3% in the third quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock valued at $45,821,000 after purchasing an additional 466,818 shares during the period. Wellington Management Group LLP lifted its position in Ollie’s Bargain Outlet by 155.8% in the third quarter. Wellington Management Group LLP now owns 483,044 shares of the company’s stock valued at $46,952,000 after purchasing an additional 294,217 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in Ollie’s Bargain Outlet in the third quarter valued at about $16,590,000.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, SVP Larry Kraus sold 10,646 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $115.58, for a total value of $1,230,464.68. Following the completion of the sale, the senior vice president now directly owns 1,905 shares of the company’s stock, valued at approximately $220,179.90. The trade was a 84.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John W. Swygert sold 2,400 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $102.54, for a total transaction of $246,096.00. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $4,942,428. The trade was a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 78,939 shares of company stock valued at $8,745,031. Company insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Loop Capital raised their price objective on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Monday, December 23rd. Craig Hallum lifted their price target on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. StockNews.com downgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company lifted their price target on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and an average price target of $118.07.

Ollie’s Bargain Outlet Price Performance

Shares of OLLI opened at $103.63 on Tuesday. The firm has a 50 day simple moving average of $107.43 and a 200-day simple moving average of $100.73. Ollie’s Bargain Outlet Holdings, Inc. has a 1-year low of $68.05 and a 1-year high of $120.03. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.21 and a beta of 0.81.

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

Ollie’s Bargain Outlet 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.