Norges Bank Purchases Shares of 735,816 Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Norges Bank bought a new stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 735,816 shares of the company’s stock, valued at approximately $80,741,000. Norges Bank owned approximately 1.20% of Ollie’s Bargain Outlet as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Ollie’s Bargain Outlet by 489.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $25,000 after purchasing an additional 191 shares during the period. Wilmington Savings Fund Society FSB grew its position in Ollie’s Bargain Outlet by 337.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock valued at $26,000 after acquiring an additional 182 shares during the period. Bogart Wealth LLC acquired a new position in Ollie’s Bargain Outlet during the fourth quarter worth $26,000. Blue Trust Inc. lifted its holdings in shares of Ollie’s Bargain Outlet by 55.2% during the fourth quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after acquiring an additional 101 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Ollie’s Bargain Outlet in the 4th quarter valued at $41,000.

Ollie’s Bargain Outlet Stock Up 3.2 %

NASDAQ:OLLI opened at $118.20 on Thursday. Ollie’s Bargain Outlet Holdings, Inc. has a 12-month low of $68.05 and a 12-month high of $120.03. The stock’s fifty day simple moving average is $106.30 and its 200-day simple moving average is $102.70. The firm has a market capitalization of $7.24 billion, a P/E ratio of 35.28, a P/E/G ratio of 2.21 and a beta of 0.83.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). The company had revenue of $667.10 million for the quarter, compared to the consensus estimate of $674.61 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. Ollie’s Bargain Outlet’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS. As a group, equities research analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Insider Activity

In other Ollie’s Bargain Outlet news, CFO Robert F. Helm sold 2,145 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $108.50, for a total value of $232,732.50. Following the completion of the transaction, the chief financial officer now directly owns 3,888 shares of the company’s stock, valued at approximately $421,848. The trade was a 35.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Der Valk Eric Van sold 1,153 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $110.85, for a total value of $127,810.05. Following the sale, the chief executive officer now directly owns 6,768 shares in the company, valued at approximately $750,232.80. This represents a 14.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,105 shares of company stock valued at $2,883,227 in the last quarter. Company insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

OLLI has been the topic of a number of recent analyst reports. Craig Hallum boosted 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. Truist Financial raised their price target on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Jefferies Financial Group lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $125.00 to $111.00 in a research note on Tuesday, February 4th. UBS Group raised their target price on Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Finally, Citigroup upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and upped their price target for the stock from $64.00 to $133.00 in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.08.

Ollie’s Bargain Outlet Company 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.