New Mexico Educational Retirement Board cut its stake in shares of Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) by 14.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,900 shares of the company’s stock after selling 1,500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Ollie’s Bargain Outlet were worth $775,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors acquired a new position in shares of Ollie’s Bargain Outlet in the 2nd quarter valued at about $26,000. Intercontinental Wealth Advisors LLC acquired a new position in Ollie’s Bargain Outlet during the 2nd quarter worth approximately $39,000. Steward Partners Investment Advisory LLC acquired a new position in Ollie’s Bargain Outlet during the 2nd quarter worth approximately $58,000. Manchester Capital Management LLC acquired a new position in Ollie’s Bargain Outlet during the 1st quarter worth approximately $69,000. Finally, FNY Investment Advisers LLC bought a new stake in Ollie’s Bargain Outlet during the 2nd quarter worth approximately $81,000. 84.99% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Kenneth Robert Bertram sold 8,525 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $95.30, for a total transaction of $812,432.50. Following the completion of the sale, the vice president now owns 18,967 shares of the company’s stock, valued at approximately $1,807,555.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Omar Segura sold 6,102 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $78.49, for a total transaction of $478,945.98. The disclosure for this sale can be found here. Insiders have sold 24,627 shares of company stock valued at $2,165,878 in the last three months. 16.36% of the stock is owned by insiders.
Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data on Thursday, June 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. Ollie’s Bargain Outlet had a return on equity of 13.49% and a net margin of 11.10%. The firm had revenue of $324.90 million for the quarter, compared to analysts’ expectations of $319.24 million. During the same period last year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Ollie’s Bargain Outlet Holdings Inc will post 2.16 EPS for the current fiscal year.
OLLI has been the subject of a number of recent research reports. Credit Suisse Group boosted their price objective on Ollie’s Bargain Outlet from $89.00 to $103.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. They noted that the move was a valuation call. Dougherty & Co initiated coverage on Ollie’s Bargain Outlet in a report on Thursday, May 23rd. They set a “buy” rating and a $115.00 price objective for the company. Loop Capital raised Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $100.00 in a report on Wednesday, July 31st. Zacks Investment Research lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and set a $101.00 price objective for the company. in a report on Tuesday, June 4th. Finally, ValuEngine lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $96.38.
About Ollie’s Bargain Outlet
Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise. The company offers food products, housewares, books and stationery, bed and bath products, health and beauty products, floor coverings, electronics, and toys; and other products, including hardware, personal health care, candy, clothing, sporting, pet and lawn, and garden products.
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