Formidable Asset Management LLC Makes New Investment in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Formidable Asset Management LLC acquired a new position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,537 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds also recently modified their holdings of OLLI. Rafferty Asset Management LLC grew its position in Ollie’s Bargain Outlet by 16.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 13,509 shares of the company’s stock worth $814,000 after purchasing an additional 1,935 shares during the period. Heritage Wealth Management LLC grew its position in Ollie’s Bargain Outlet by 50.9% in the 3rd quarter. Heritage Wealth Management LLC now owns 1,390 shares of the company’s stock worth $84,000 after purchasing an additional 469 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in Ollie’s Bargain Outlet by 11.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 36,267 shares of the company’s stock worth $2,186,000 after purchasing an additional 3,614 shares during the period. Alliancebernstein L.P. grew its position in Ollie’s Bargain Outlet by 3.1% in the 3rd quarter. Alliancebernstein L.P. now owns 94,524 shares of the company’s stock worth $5,698,000 after purchasing an additional 2,809 shares during the period. Finally, Teacher Retirement System of Texas grew its position in Ollie’s Bargain Outlet by 24.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 9,485 shares of the company’s stock worth $572,000 after purchasing an additional 1,867 shares during the period.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating and set a $72.00 price objective for the company in a research report on Wednesday, October 27th. UBS Group began coverage on shares of Ollie’s Bargain Outlet in a research report on Tuesday, December 14th. They set a “neutral” rating and a $55.00 price objective for the company. Royal Bank of Canada lowered their target price on shares of Ollie’s Bargain Outlet from $85.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday, December 3rd. KeyCorp lowered their target price on shares of Ollie’s Bargain Outlet from $95.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, December 3rd. Finally, Loop Capital lowered their target price on shares of Ollie’s Bargain Outlet from $70.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, December 6th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.17.

Shares of OLLI stock opened at $45.20 on Friday. The company has a market capitalization of $2.85 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.68 and a beta of 1.25. The company’s 50-day simple moving average is $55.83 and its two-hundred day simple moving average is $69.61. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $44.80 and a one year high of $123.52.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Thursday, December 2nd. The company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.13). The company had revenue of $383.49 million during the quarter, compared to the consensus estimate of $415.22 million. Ollie’s Bargain Outlet had a return on equity of 12.85% and a net margin of 10.03%. Ollie’s Bargain Outlet’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. As a group, analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 2.33 earnings per share for the current fiscal year.

About Ollie’s Bargain Outlet

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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