NewEdge Wealth LLC Makes New $3.57 Million Investment in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

NewEdge Wealth LLC acquired a new stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the fourth quarter, Holdings Channel.com reports. The fund acquired 32,533 shares of the company’s stock, valued at approximately $3,570,000.

A number of other institutional investors have also modified their holdings of the company. Advisor OS LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the fourth quarter valued at $213,000. Hudson Edge Investment Partners Inc. grew its stake in shares of Ollie’s Bargain Outlet by 4.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 5,323 shares of the company’s stock valued at $584,000 after buying an additional 250 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Ollie’s Bargain Outlet in the fourth quarter valued at $58,000. New York State Common Retirement Fund grew its stake in shares of Ollie’s Bargain Outlet by 2.3% in the fourth quarter. New York State Common Retirement Fund now owns 62,124 shares of the company’s stock valued at $6,817,000 after buying an additional 1,407 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Ollie’s Bargain Outlet in the fourth quarter valued at $1,279,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OLLI shares. Citigroup upgraded Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and lifted their target price for the company from $64.00 to $133.00 in a report on Wednesday, December 18th. Wells Fargo & Company lifted their target price on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 target price on shares of Ollie’s Bargain Outlet in a report on Monday, December 23rd. Truist Financial lifted their target price on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and decreased their target price for the company from $125.00 to $111.00 in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Ollie’s Bargain Outlet has a consensus rating of “Moderate Buy” and a consensus target price of $118.07.

Insider Activity

In other news, SVP Larry Kraus sold 10,646 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $115.58, for a total value of $1,230,464.68. Following the completion of the sale, the senior vice president now directly owns 1,905 shares of the company’s stock, valued at approximately $220,179.90. The trade was a 84.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John W. Swygert sold 2,400 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $102.54, for a total value of $246,096.00. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $4,942,428. The trade was a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 78,939 shares of company stock valued at $8,745,031. Insiders own 0.87% of the company’s stock.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ OLLI opened at $103.51 on Friday. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 2.21 and a beta of 0.81. The business has a 50-day moving average of $107.72 and a two-hundred day moving average of $100.43. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $68.05 and a 1 year high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business had revenue of $517.43 million during the quarter, compared to the consensus estimate of $518.83 million. During the same period in the previous year, the business earned $0.51 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current 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.