Concentric Capital Strategies LP Invests $1.29 Million in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Concentric Capital Strategies LP bought a new stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,216 shares of the company’s stock, valued at approximately $1,285,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Royce & Associates LP lifted its position in shares of Ollie’s Bargain Outlet by 161.6% in the 3rd quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock worth $7,349,000 after acquiring an additional 46,706 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Ollie’s Bargain Outlet by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock valued at $73,256,000 after purchasing an additional 5,438 shares in the last quarter. Fred Alger Management LLC lifted its position in Ollie’s Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after purchasing an additional 83,063 shares during the period. Hancock Whitney Corp acquired a new stake in Ollie’s Bargain Outlet during the third quarter worth $988,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in Ollie’s Bargain Outlet by 953.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock valued at $55,637,000 after buying an additional 512,928 shares during the period.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, SVP Kevin Mclain sold 15,000 shares of Ollie’s Bargain Outlet stock in a transaction on Monday, September 16th. The shares were sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the completion of the sale, the senior vice president now owns 10,610 shares of the company’s stock, valued at approximately $1,050,283.90. The trade was a 58.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert F. Helm sold 2,401 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $94.68, for a total value of $227,326.68. Following the completion of the sale, the chief financial officer now owns 2,021 shares of the company’s stock, valued at $191,348.28. This represents a 54.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,712 shares of company stock valued at $3,368,270. Insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OLLI. Bank of America raised their price objective on shares of Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Piper Sandler reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Ollie’s Bargain Outlet in a report on Friday, October 4th. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and increased their target price for the stock from $105.00 to $107.00 in a report on Monday, August 26th. UBS Group boosted their price target on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.92.

Ollie’s Bargain Outlet Stock Up 0.9 %

Shares of NASDAQ OLLI opened at $99.87 on Tuesday. Ollie’s Bargain Outlet Holdings, Inc. has a 12-month low of $68.05 and a 12-month high of $104.98. The firm’s 50-day simple moving average is $94.95 and its 200 day simple moving average is $93.56. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 2.46 and a beta of 0.85.

About Ollie’s Bargain Outlet

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