Legal & General Group Plc Has $10.55 Million Stock Holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Legal & General Group Plc reduced its position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 5.5% in the 4th quarter, Holdings Channel reports. The firm owned 96,178 shares of the company’s stock after selling 5,590 shares during the period. Legal & General Group Plc’s holdings in Ollie’s Bargain Outlet were worth $10,554,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Corient Private Wealth LLC lifted its position in shares of Ollie’s Bargain Outlet by 86.2% during the 4th quarter. Corient Private Wealth LLC now owns 8,438 shares of the company’s stock worth $926,000 after buying an additional 3,906 shares during the last quarter. Oak Thistle LLC acquired a new position in Ollie’s Bargain Outlet during the fourth quarter worth about $1,345,000. JPMorgan Chase & Co. boosted its stake in shares of Ollie’s Bargain Outlet by 130.5% in the 4th quarter. JPMorgan Chase & Co. now owns 436,366 shares of the company’s stock valued at $47,882,000 after purchasing an additional 247,065 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Ollie’s Bargain Outlet by 36.5% in the 4th quarter. Van ECK Associates Corp now owns 46,659 shares of the company’s stock valued at $5,120,000 after purchasing an additional 12,476 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Ollie’s Bargain Outlet by 1.1% during the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company’s stock valued at $180,558,000 after purchasing an additional 17,302 shares during the last quarter.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, SVP Kevin Mclain sold 4,799 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $115.56, for a total value of $554,572.44. Following the completion of the sale, the senior vice president now directly owns 12,336 shares in the company, valued at approximately $1,425,548.16. This trade represents a 28.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Fisch sold 6,250 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $108.08, for a total transaction of $675,500.00. Following the transaction, the director now owns 22,159 shares in the company, valued at $2,394,944.72. This represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,897 shares of company stock worth $4,227,970. 0.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on OLLI shares. Morgan Stanley boosted their target price on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. 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 report on Tuesday, February 4th. Citigroup upgraded 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. Piper Sandler reduced their price target on Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Finally, UBS Group raised their price objective on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.08.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $109.97 on Thursday. Ollie’s Bargain Outlet Holdings, Inc. has a 52 week low of $70.17 and a 52 week high of $120.03. The firm’s fifty day moving average is $106.54 and its 200-day moving average is $103.63. The firm has a market cap of $6.74 billion, a P/E ratio of 32.83, a P/E/G ratio of 2.21 and a beta of 0.75.

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