American International Group Inc. Lowers Holdings in Ollie’s Bargain Outlet (NASDAQ:OLLI)

American International Group Inc. cut its holdings in shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) by 20.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,442 shares of the company’s stock after selling 7,602 shares during the period. American International Group Inc.’s holdings in Ollie’s Bargain Outlet were worth $1,836,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Swiss National Bank lifted its position in shares of Ollie’s Bargain Outlet by 0.9% in the 1st quarter. Swiss National Bank now owns 85,200 shares of the company’s stock valued at $5,138,000 after acquiring an additional 800 shares in the last quarter. Hodges Capital Management Inc. increased its stake in Ollie’s Bargain Outlet by 0.4% in the 1st quarter. Hodges Capital Management Inc. now owns 212,770 shares of the company’s stock valued at $12,830,000 after buying an additional 940 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ollie’s Bargain Outlet by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,972 shares of the company’s stock valued at $158,000 after buying an additional 992 shares during the period. First Mercantile Trust Co. increased its stake in Ollie’s Bargain Outlet by 18.9% in the 4th quarter. First Mercantile Trust Co. now owns 6,254 shares of the company’s stock valued at $333,000 after buying an additional 994 shares during the period. Finally, Profund Advisors LLC increased its stake in Ollie’s Bargain Outlet by 17.5% in the 4th quarter. Profund Advisors LLC now owns 7,429 shares of the company’s stock valued at $396,000 after buying an additional 1,107 shares during the period. 90.15% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on the stock. BidaskClub lowered shares of Ollie’s Bargain Outlet from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 8th. Citigroup increased their price target on shares of Ollie’s Bargain Outlet from $43.00 to $46.00 and gave the stock a “sell” rating in a research note on Thursday, June 7th. Royal Bank of Canada increased their price target on shares of Ollie’s Bargain Outlet from $69.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, June 7th. Morgan Stanley increased their price target on shares of Ollie’s Bargain Outlet from $58.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, June 6th. Finally, Buckingham Research increased their price target on shares of Ollie’s Bargain Outlet from $55.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, June 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $66.93.

Ollie’s Bargain Outlet traded up $0.75, reaching $75.65, during mid-day trading on Thursday, Marketbeat reports. The company had a trading volume of 692,022 shares, compared to its average volume of 729,526. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.18 and a quick ratio of 0.25. Ollie’s Bargain Outlet has a 52 week low of $38.45 and a 52 week high of $77.50. The company has a market cap of $4.62 billion, a PE ratio of 60.52, a price-to-earnings-growth ratio of 1.88 and a beta of 0.18.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Tuesday, June 5th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Ollie’s Bargain Outlet had a net margin of 12.36% and a return on equity of 12.06%. The firm had revenue of $275.70 million during the quarter, compared to the consensus estimate of $267.27 million. During the same period in the prior year, the firm earned $0.25 EPS. The business’s revenue was up 21.1% on a year-over-year basis. analysts expect that Ollie’s Bargain Outlet will post 1.71 earnings per share for the current fiscal year.

In related news, SVP Kevin Mclain sold 12,667 shares of the stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $72.64, for a total transaction of $920,130.88. Following the completion of the sale, the senior vice president now owns 5,750 shares in the company, valued at approximately $417,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kenneth Robert Bertram sold 4,000 shares of the stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $59.65, for a total transaction of $238,600.00. Following the sale, the vice president now owns 7,958 shares of the company’s stock, valued at approximately $474,694.70. The disclosure for this sale can be found here. 20.27% of the stock is currently owned by company insiders.

About Ollie’s Bargain Outlet

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise. The company offers food products, housewares, books and stationery, bed and bath products, floor coverings, electronics, and toys; and other products, including hardware, personal health care, candy, clothing, sporting, pet and lawn, and garden products.

Institutional Ownership by Quarter for Ollie`s Bargain Outlet (NASDAQ:OLLI)

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