Amalgamated Bank Trims Stock Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Amalgamated Bank decreased its stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 4.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,997 shares of the company’s stock after selling 1,204 shares during the quarter. Amalgamated Bank’s holdings in Ollie’s Bargain Outlet were worth $3,258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Ollie’s Bargain Outlet by 489.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock worth $25,000 after acquiring an additional 191 shares during the period. City Holding Co. purchased a new stake in shares of Ollie’s Bargain Outlet in the 1st quarter valued at approximately $31,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter worth approximately $33,000. Putney Financial Group LLC purchased a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter valued at approximately $33,000. Finally, GeoWealth Management LLC purchased a new position in Ollie’s Bargain Outlet in the fourth quarter worth approximately $38,000.

Insider Transactions at Ollie’s Bargain Outlet

In related news, CFO Robert F. Helm sold 312 shares of Ollie’s Bargain Outlet stock in a transaction on Monday, April 7th. The shares were sold at an average price of $107.17, for a total value of $33,437.04. Following the completion of the sale, the chief financial officer owned 3,273 shares in the company, valued at approximately $350,767.41. The trade was a 8.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Der Valk Eric Van sold 728 shares of Ollie’s Bargain Outlet stock in a transaction on Friday, June 13th. The stock was sold at an average price of $112.85, for a total transaction of $82,154.80. Following the completion of the transaction, the chief executive officer directly owned 7,761 shares of the company’s stock, valued at approximately $875,828.85. This represents a 8.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on OLLI shares. KeyCorp set a $145.00 target price on shares of Ollie’s Bargain Outlet and gave the company an “overweight” rating in a research report on Thursday, June 26th. Loop Capital cut Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a research note on Tuesday, June 24th. Wall Street Zen raised Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. lifted their price objective on shares of Ollie’s Bargain Outlet from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $123.00 price objective (down from $124.00) on shares of Ollie’s Bargain Outlet in a research note on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.21.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ OLLI opened at $135.05 on Friday. The stock has a fifty day moving average price of $117.11 and a 200 day moving average price of $111.18. Ollie’s Bargain Outlet Holdings, Inc. has a 1-year low of $86.05 and a 1-year high of $134.59. The company has a market cap of $8.28 billion, a PE ratio of 41.56, a P/E/G ratio of 2.95 and a beta of 0.41.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.05. Ollie’s Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The firm had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $565.04 million. During the same period in the prior year, the company posted $0.73 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

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.