Franklin Resources Inc. Decreases Stock Holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Franklin Resources Inc. lessened its stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 17.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,758 shares of the company’s stock after selling 781 shares during the quarter. Franklin Resources Inc.’s holdings in Ollie’s Bargain Outlet were worth $412,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Alliancebernstein L.P. grew its position in Ollie’s Bargain Outlet by 12.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company’s stock worth $178,813,000 after purchasing an additional 186,313 shares during the period. Brown Brothers Harriman & Co. bought a new position in Ollie’s Bargain Outlet in the fourth quarter valued at about $33,000. Orion Portfolio Solutions LLC boosted its position in Ollie’s Bargain Outlet by 79.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 8,280 shares of the company’s stock worth $909,000 after purchasing an additional 3,672 shares during the last quarter. Premier Fund Managers Ltd bought a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter valued at about $496,000. Finally, Pictet Asset Management Holding SA grew its stake in shares of Ollie’s Bargain Outlet by 8.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,675 shares of the company’s stock valued at $952,000 after purchasing an additional 654 shares during the period.

Insiders Place Their Bets

In other news, CEO Der Valk Eric Van sold 1,153 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $110.85, for a total transaction of $127,810.05. Following the transaction, the chief executive officer now owns 6,768 shares of the company’s stock, valued at approximately $750,232.80. The trade was a 14.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert F. Helm sold 312 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was 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 now owns 3,273 shares of the company’s stock, valued at approximately $350,767.41. This represents a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,897 shares of company stock valued at $4,227,970 in the last three months. Corporate insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet Stock Up 1.8 %

Shares of OLLI stock opened at $111.95 on Friday. The company’s fifty day simple moving average is $106.72 and its two-hundred day simple moving average is $103.73. Ollie’s Bargain Outlet Holdings, Inc. has a 52 week low of $70.17 and a 52 week high of $120.03. The stock has a market cap of $6.86 billion, a P/E ratio of 33.42, a PEG ratio of 2.21 and a beta of 0.75.

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

Analyst Ratings Changes

OLLI has been the subject of a number of research reports. Morgan Stanley increased their price target on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. StockNews.com cut Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Loop Capital lifted their target price on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Piper Sandler reduced their price target on Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Finally, UBS Group lifted their price objective on Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.08.

Ollie’s Bargain Outlet 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.