Macquarie Group Ltd. Sells 64,822 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Posted by on Mar 10th, 2023

Macquarie Group Ltd. reduced its position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI – Get Rating) by 59.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,819 shares of the company’s stock after selling 64,822 shares during the quarter. Macquarie Group Ltd. owned 0.07% of Ollie’s Bargain Outlet worth $2,337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of OLLI. Royal London Asset Management Ltd. bought a new stake in Ollie’s Bargain Outlet during the 1st quarter valued at about $41,301,000. Segall Bryant & Hamill LLC bought a new stake in Ollie’s Bargain Outlet during the 3rd quarter valued at about $29,454,000. Price T Rowe Associates Inc. MD increased its stake in Ollie’s Bargain Outlet by 14.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,006,215 shares of the company’s stock valued at $235,365,000 after purchasing an additional 518,390 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Ollie’s Bargain Outlet in the first quarter worth approximately $17,880,000. Finally, Driehaus Capital Management LLC bought a new stake in shares of Ollie’s Bargain Outlet in the second quarter worth approximately $23,418,000.

Analyst Upgrades and Downgrades

OLLI has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on shares of Ollie’s Bargain Outlet from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 28th. UBS Group reduced their price target on shares of Ollie’s Bargain Outlet to $54.00 in a research note on Monday, December 12th. Truist Financial reduced their price target on shares of Ollie’s Bargain Outlet from $50.00 to $46.00 in a research note on Thursday, December 8th. StockNews.com downgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Saturday, November 12th. Finally, Gordon Haskett downgraded shares of Ollie’s Bargain Outlet from a “buy” rating to an “accumulate” rating and set a $53.00 price objective on the stock. in a report on Thursday, December 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

Ollie’s Bargain Outlet Stock Performance

OLLI stock opened at $55.56 on Friday. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $37.67 and a one year high of $72.27. The company’s fifty day moving average price is $54.65 and its 200-day moving average price is $55.02. The company has a market capitalization of $3.46 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96.

Ollie’s Bargain Outlet (NASDAQ:OLLI – Get Rating) last released its earnings results on Wednesday, December 7th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Ollie’s Bargain Outlet had a return on equity of 7.15% and a net margin of 5.31%. The company had revenue of $418.07 million during the quarter, compared to analysts’ expectations of $431.37 million. On average, research analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 1.58 EPS for the current fiscal year.

Ollie’s Bargain Outlet Profile

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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.

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

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