Kornitzer Capital Management Inc. KS Sells 11,620 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Kornitzer Capital Management Inc. KS lessened its stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 129,590 shares of the company’s stock after selling 11,620 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Ollie’s Bargain Outlet were worth $9,835,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Raymond James & Associates boosted its position in Ollie’s Bargain Outlet by 3.6% during the 1st quarter. Raymond James & Associates now owns 95,209 shares of the company’s stock valued at $4,090,000 after buying an additional 3,348 shares during the period. Cetera Advisor Networks LLC purchased a new stake in shares of Ollie’s Bargain Outlet during the first quarter worth about $263,000. MetLife Investment Management LLC grew its stake in shares of Ollie’s Bargain Outlet by 29.7% in the first quarter. MetLife Investment Management LLC now owns 38,049 shares of the company’s stock worth $1,635,000 after purchasing an additional 8,723 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Ollie’s Bargain Outlet by 7.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,515 shares of the company’s stock valued at $924,000 after purchasing an additional 1,451 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in Ollie’s Bargain Outlet by 3.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 31,651 shares of the company’s stock valued at $1,398,000 after purchasing an additional 1,081 shares during the last quarter.

Insider Transactions at Ollie’s Bargain Outlet

In related news, CEO John W. Swygert sold 11,756 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $75.22, for a total transaction of $884,286.32. Following the completion of the sale, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $3,625,604. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO John W. Swygert sold 11,756 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $75.22, for a total transaction of $884,286.32. Following the sale, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $3,625,604. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John W. Swygert sold 5,000 shares of Ollie’s Bargain Outlet stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.57, for a total value of $412,850.00. Following the completion of the sale, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $3,979,874. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,171 shares of company stock worth $1,722,888. Corporate insiders own 0.86% of the company’s stock.

Ollie’s Bargain Outlet Price Performance

OLLI stock traded up $0.92 on Friday, reaching $73.21. 711,395 shares of the company traded hands, compared to its average volume of 1,040,161. The firm has a fifty day simple moving average of $76.07 and a 200-day simple moving average of $75.09. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $52.93 and a one year high of $84.38. The company has a market cap of $4.49 billion, a P/E ratio of 25.07 and a beta of 0.76.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.07. Ollie’s Bargain Outlet had a return on equity of 12.55% and a net margin of 8.63%. The firm had revenue of $648.90 million during the quarter, compared to analyst estimates of $649.39 million. During the same quarter in the previous year, the firm earned $0.84 EPS. Ollie’s Bargain Outlet’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, sell-side analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OLLI shares. The Goldman Sachs Group lifted their price objective on Ollie’s Bargain Outlet from $91.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. cut their price target on shares of Ollie’s Bargain Outlet from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, March 21st. Loop Capital raised shares of Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $90.00 in a research report on Friday, April 5th. Truist Financial lifted their target price on shares of Ollie’s Bargain Outlet from $78.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $86.00 price target on shares of Ollie’s Bargain Outlet in a research note on Thursday, March 21st. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.92.

About Ollie’s Bargain Outlet

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.