Point72 Asia Singapore Pte. Ltd. Acquires New Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,553 shares of the company’s stock, valued at approximately $151,000.

A number of other institutional investors have also modified their holdings of OLLI. D. E. Shaw & Co. Inc. grew its position in shares of Ollie’s Bargain Outlet by 953.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock valued at $55,637,000 after buying an additional 512,928 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Ollie’s Bargain Outlet by 199.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 560,054 shares of the company’s stock worth $54,981,000 after purchasing an additional 372,914 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in Ollie’s Bargain Outlet in the 3rd quarter worth about $16,590,000. Victory Capital Management Inc. grew its position in Ollie’s Bargain Outlet by 84.8% in the 3rd quarter. Victory Capital Management Inc. now owns 313,836 shares of the company’s stock worth $30,505,000 after purchasing an additional 143,996 shares during the last quarter. Finally, F M Investments LLC bought a new position in Ollie’s Bargain Outlet in the 2nd quarter worth about $13,852,000.

Ollie’s Bargain Outlet Price Performance

OLLI stock opened at $100.31 on Thursday. Ollie’s Bargain Outlet Holdings, Inc. has a 12 month low of $68.05 and a 12 month high of $104.98. The firm has a market cap of $6.15 billion, a PE ratio of 30.58, a P/E/G ratio of 2.48 and a beta of 0.85. The firm has a 50 day simple moving average of $94.84 and a 200 day simple moving average of $93.78.

Wall Street Analyst Weigh In

OLLI has been the subject of several recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $107.00 target price on shares of Ollie’s Bargain Outlet in a research report on Friday, October 4th. JPMorgan Chase & Co. decreased their target price on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. UBS Group upped their target price on shares of Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Bank of America upped their price target on shares of Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company lowered shares of Ollie’s Bargain Outlet from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $100.00 to $95.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.50.

Insider Activity at Ollie’s Bargain Outlet

In related news, CEO John W. Swygert sold 4,800 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $102.60, for a total transaction of $492,480.00. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $4,945,320. This represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert F. Helm sold 2,401 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $94.68, for a total transaction of $227,326.68. Following the sale, the chief financial officer now directly owns 2,021 shares of the company’s stock, valued at approximately $191,348.28. This represents a 54.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,712 shares of company stock valued at $3,368,270 over the last ninety days. Insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet Profile

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.