RiverPark Advisors LLC Makes New $298,000 Investment in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

RiverPark Advisors LLC acquired a new position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,062 shares of the company’s stock, valued at approximately $298,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC acquired a new position in Ollie’s Bargain Outlet during the first quarter worth $841,000. Capital Research Global Investors purchased a new stake in Ollie’s Bargain Outlet in the first quarter valued at $136,978,000. Seven Eight Capital LP raised its position in Ollie’s Bargain Outlet by 178.8% in the first quarter. Seven Eight Capital LP now owns 9,592 shares of the company’s stock valued at $763,000 after purchasing an additional 6,151 shares during the period. D. E. Shaw & Co. Inc. raised its position in Ollie’s Bargain Outlet by 953.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock valued at $55,637,000 after purchasing an additional 512,928 shares during the period. Finally, King Luther Capital Management Corp raised its position in Ollie’s Bargain Outlet by 36.0% in the second quarter. King Luther Capital Management Corp now owns 109,827 shares of the company’s stock valued at $10,782,000 after purchasing an additional 29,061 shares during the period.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $91.93 on Friday. The stock has a 50-day simple moving average of $95.31 and a 200-day simple moving average of $91.90. The stock has a market cap of $5.64 billion, a P/E ratio of 28.03, a P/E/G ratio of 2.29 and a beta of 0.84. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $68.05 and a 1 year high of $104.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its earnings results on Thursday, August 29th. The company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The firm had revenue of $578.38 million during the quarter, compared to analysts’ expectations of $561.60 million. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. On average, equities research analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group lifted their target price on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. StockNews.com downgraded Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price objective on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Piper Sandler reiterated an “overweight” rating and issued a $107.00 price objective on shares of Ollie’s Bargain Outlet in a report on Friday, October 4th. Finally, Loop Capital reiterated a “buy” rating and issued a $110.00 price objective on shares of Ollie’s Bargain Outlet in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $104.92.

Insider Activity at Ollie’s Bargain Outlet

In other news, CFO Robert F. Helm sold 2,401 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total value of $227,326.68. Following the completion of the sale, the chief financial officer now directly owns 2,021 shares of the company’s stock, valued at $191,348.28. This trade represents a 54.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin Mclain sold 15,000 shares of Ollie’s Bargain Outlet stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.99, for a total value of $1,484,850.00. Following the transaction, the senior vice president now directly owns 10,610 shares of the company’s stock, valued at approximately $1,050,283.90. This represents a 58.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,880 shares of company stock valued at $2,462,470 in the last three months. 0.87% of the stock is currently owned by company insiders.

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.