Corebridge Financial Inc. Sells 2,964 Shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)
Corebridge Financial Inc. has reduced its stake in Ollie's Bargain Outlet Holdings, Inc. by 4.1%, selling 2,964 shares in the fourth quarter, leaving it with 69,414 shares valued at approximately $7.6 million. Other hedge funds have also adjusted their positions in Ollie's, with Congress Wealth Management increasing its holdings by 137.7%. Ollie's stock is currently trading at $113.24, with a market cap of $6.94 billion. Analysts have mixed ratings on the stock, with a consensus target price of $123.08.
Corebridge Financial Inc. reduced its position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,414 shares of the company's stock after selling 2,964 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Ollie's Bargain Outlet worth $7,617,000 as of its most recent SEC filing.
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A number of other hedge funds also recently added to or reduced their stakes in OLLI. Congress Wealth Management LLC DE raised its holdings in shares of Ollie's Bargain Outlet by 137.7% in the 4th quarter. Congress Wealth Management LLC DE now owns 262,157 shares of the company's stock valued at $28,766,000 after purchasing an additional 151,868 shares in the last quarter. Summit Creek Advisors LLC increased its holdings in Ollie's Bargain Outlet by 0.3% during the fourth quarter. Summit Creek Advisors LLC now owns 177,792 shares of the company's stock valued at $19,509,000 after buying an additional 590 shares during the period. Vanguard Group Inc. raised its stake in Ollie's Bargain Outlet by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company's stock worth $638,843,000 after buying an additional 70,496 shares in the last quarter. Bridge City Capital LLC raised its stake in Ollie's Bargain Outlet by 0.9% in the fourth quarter. Bridge City Capital LLC now owns 36,921 shares of the company's stock worth $4,051,000 after buying an additional 325 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new stake in Ollie's Bargain Outlet during the fourth quarter worth $667,000.
Ollie's Bargain Outlet Price Performance
NASDAQ OLLI opened at $113.24 on Friday. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.21 and a beta of 0.83. The stock's fifty day moving average price is $105.96 and its 200 day moving average price is $102.24. Ollie's Bargain Outlet Holdings, Inc. has a 1 year low of $68.05 and a 1 year high of $120.03.
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Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.01). Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm had revenue of $667.10 million during the quarter, compared to analyst estimates of $674.61 million. During the same period in the prior year, the company posted $1.23 earnings per share. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. Research analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.
Analysts Set New Price Targets
Several research analysts have recently commented on OLLI shares. Truist Financial boosted their price target on Ollie's Bargain Outlet from $109.00 to $121.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Citigroup upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and boosted their target price for the stock from $64.00 to $133.00 in a report on Wednesday, December 18th. Loop Capital raised their price target on shares of Ollie's Bargain Outlet from $120.00 to $130.00 and gave the company a "buy" rating in a report on Monday, December 23rd. Bank of America boosted their price objective on shares of Ollie's Bargain Outlet from $115.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Finally, StockNews.com downgraded shares of Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.08.
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Check Out Our Latest Stock Analysis on OLLI
Insiders Place Their Bets
In related news, Chairman John W. Swygert sold 5,232 shares of the firm's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $112.51, for a total transaction of $588,652.32. Following the completion of the transaction, the chairman now owns 48,200 shares of the company's stock, valued at $5,422,982. This trade represents a 9.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert F. Helm sold 2,145 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $108.50, for a total transaction of $232,732.50. Following the transaction, the chief financial officer now owns 3,888 shares of the company's stock, valued at $421,848. This represents a 35.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,153 shares of company stock valued at $2,200,844. 0.87% of the stock is owned by insiders.
About Ollie's Bargain Outlet
(Free Report)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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Want to see what other hedge funds are holding OLLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report).
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