Precision Wealth Strategies LLC Boosts Stock Holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Precision Wealth Strategies LLC boosted its stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 11.2% during the first quarter, Holdings Channel reports. The firm owned 4,326 shares of the company’s stock after purchasing an additional 437 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Ollie’s Bargain Outlet were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC raised its position in Ollie’s Bargain Outlet by 173.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock worth $509,671,000 after acquiring an additional 2,948,393 shares during the period. Congress Asset Management Co. raised its position in Ollie’s Bargain Outlet by 181.6% in the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock worth $210,307,000 after acquiring an additional 1,235,994 shares during the period. Norges Bank bought a new position in Ollie’s Bargain Outlet in the fourth quarter worth approximately $80,741,000. Raymond James Financial Inc. bought a new position in Ollie’s Bargain Outlet in the fourth quarter worth approximately $48,633,000. Finally, Envestnet Asset Management Inc. raised its position in Ollie’s Bargain Outlet by 103.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 487,774 shares of the company’s stock worth $53,523,000 after acquiring an additional 247,852 shares during the period.

Ollie’s Bargain Outlet Price Performance

Ollie’s Bargain Outlet stock opened at $114.48 on Monday. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 34.17, a price-to-earnings-growth ratio of 2.21 and a beta of 0.37. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $86.05 and a 1 year high of $122.15. The firm has a 50-day moving average of $111.84 and a two-hundred day moving average of $108.93.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. The company had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $565.04 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 EPS. Research analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Wall Street Analyst Weigh In

OLLI has been the topic of several recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $123.00 price target (down from $124.00) on shares of Ollie’s Bargain Outlet in a research report on Wednesday, June 4th. JPMorgan Chase & Co. raised their price objective on shares of Ollie’s Bargain Outlet from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, May 19th. Royal Bank of Canada restated an “outperform” rating and set a $133.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Wednesday, June 4th. 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 research report on Thursday, March 20th. Finally, Wall Street Zen upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Ollie’s Bargain Outlet has a consensus rating of “Moderate Buy” and a consensus target price of $124.50.

Insider Transactions at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CEO Der Valk Eric Van sold 1,153 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $110.85, for a total value of $127,810.05. Following the completion of the sale, the chief executive officer now directly owns 6,768 shares in the company, valued at $750,232.80. This trade represents a 14.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert F. Helm sold 312 shares of the company’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 transaction, the chief financial officer now directly owns 3,273 shares in the company, valued at approximately $350,767.41. The trade was a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,897 shares of company stock valued at $4,227,970. Company insiders own 0.75% of the company’s stock.

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.