Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Stake Cut by American International Group Inc.

Posted by on Jun 4th, 2023

American International Group Inc. lessened its holdings in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI – Get Rating) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,716 shares of the company’s stock after selling 1,063 shares during the quarter. American International Group Inc. owned approximately 0.15% of Ollie’s Bargain Outlet worth $4,249,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Royal London Asset Management Ltd. purchased a new stake in Ollie’s Bargain Outlet in the 1st quarter worth approximately $41,301,000. Segall Bryant & Hamill LLC acquired a new stake in Ollie’s Bargain Outlet during the third quarter valued at $29,454,000. Bank of New York Mellon Corp grew its stake in Ollie’s Bargain Outlet by 21.0% in the third quarter. Bank of New York Mellon Corp now owns 2,518,593 shares of the company’s stock valued at $129,961,000 after purchasing an additional 437,397 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Ollie’s Bargain Outlet in the 1st quarter worth about $17,880,000. Finally, Two Sigma Investments LP raised its stake in shares of Ollie’s Bargain Outlet by 266.0% during the 3rd quarter. Two Sigma Investments LP now owns 505,410 shares of the company’s stock worth $26,079,000 after purchasing an additional 367,301 shares in the last quarter.

Ollie’s Bargain Outlet Price Performance

Ollie’s Bargain Outlet stock opened at $57.69 on Friday. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 35.18, a P/E/G ratio of 1.03 and a beta of 0.97. The firm has a 50-day moving average of $61.49 and a 200-day moving average of $56.71. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $44.72 and a one year high of $72.27.

Ollie’s Bargain Outlet (NASDAQ:OLLI – Get Rating) last issued its earnings results on Wednesday, March 22nd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. Ollie’s Bargain Outlet had a net margin of 5.63% and a return on equity of 7.69%. The business had revenue of $549.80 million for the quarter, compared to the consensus estimate of $542.18 million. During the same period in the previous year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 2.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

OLLI has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Ollie’s Bargain Outlet from $56.00 to $61.00 in a research note on Wednesday, March 22nd. Bank of America increased their price target on shares of Ollie’s Bargain Outlet from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, April 12th. Morgan Stanley raised their price target on shares of Ollie’s Bargain Outlet from $50.00 to $54.00 and gave the company an “equal weight” rating in a report on Thursday, March 23rd. Citigroup cut shares of Ollie’s Bargain Outlet from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $52.00 to $49.00 in a report on Monday, March 27th. Finally, Loop Capital raised their target price on Ollie’s Bargain Outlet from $42.00 to $58.00 and gave the company an “equal weight” rating in a report on Thursday, March 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.13.

Insider Buying and Selling

In related news, Director Thomas Hendrickson sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $58.52, for a total value of $175,560.00. Following the completion of the sale, the director now directly owns 610 shares in the company, valued at $35,697.20. The sale was disclosed in a filing with the SEC, which is available at this link. 0.86% of the stock is owned by insiders.

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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