Arcadia Investment Management Corp MI Makes New Investment in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Arcadia Investment Management Corp MI bought a new stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 532 shares of the company’s stock, valued at approximately $58,000.

Other large investors also recently made changes to their positions in the company. Congress Asset Management Co. increased its stake in Ollie’s Bargain Outlet by 181.6% in the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock valued at $210,307,000 after buying an additional 1,235,994 shares during the last quarter. State Street Corp grew its holdings in shares of Ollie’s Bargain Outlet by 2.1% in the third quarter. State Street Corp now owns 1,871,047 shares of the company’s stock valued at $181,866,000 after acquiring an additional 38,203 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Ollie’s Bargain Outlet by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock valued at $104,860,000 after acquiring an additional 9,492 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in Ollie’s Bargain Outlet by 1.3% during the third quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company’s stock worth $102,106,000 after acquiring an additional 13,369 shares during the period. Finally, Fred Alger Management LLC lifted its holdings in Ollie’s Bargain Outlet by 12.1% during the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after acquiring an additional 83,063 shares during the period.

Insider Activity

In related news, SVP James J. Comitale sold 5,325 shares of Ollie’s Bargain Outlet stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total transaction of $606,783.75. Following the completion of the sale, the senior vice president now owns 3,140 shares of the company’s stock, valued at approximately $357,803. This trade represents a 62.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Larry Kraus sold 10,646 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $115.58, for a total value of $1,230,464.68. Following the completion of the transaction, the senior vice president now owns 1,905 shares in the company, valued at $220,179.90. This represents a 84.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,771 shares of company stock worth $9,650,832. 0.87% of the stock is owned by company insiders.

Analysts Set New Price Targets

OLLI has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Craig Hallum raised their price objective on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company boosted their target price on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Citigroup raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and increased their target price for the company from $64.00 to $133.00 in a research report on Wednesday, December 18th. Finally, Truist Financial lifted their price target on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.07.

Ollie’s Bargain Outlet Price Performance

NASDAQ:OLLI opened at $96.78 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $68.05 and a 1 year high of $120.03. The stock’s fifty day moving average price is $109.04 and its two-hundred day moving average price is $100.25. The company has a market cap of $5.93 billion, a P/E ratio of 28.89, a P/E/G ratio of 2.30 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

About Ollie’s Bargain Outlet

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.