Kayne Anderson Rudnick Investment. recently announced the acquisition of new stake in Ollie’s Bargain Outlet Holdings Inc. (NASDAQ:OLLI). The institutional investor has increased its shareholding in the Consumer Defensive company by 49.66% to 6.22 million shares with purchase of 2.06 million shares. This fresh investment now brings its stake to 9.46% valued currently at $607.52 million. In addition, Wasatch Advisors, Inc. raised its holdings by 1.09 million to 4.2 million shares. And Artisan Partners LP has lifted its position by 31.32% or 0.85 million shares – to 3.55 million shares.
With over 0.41 million Ollie’s Bargain Outlet Holdings Inc. (OLLI) shares trading Thursday and a closing price of $106.80 on the day, the dollar volume was approximately $43.73 million. The shares have shown a positive weekly performance of 3.91% and its price on 07/30/20 lost nearly -0.03%. Currently, there are 63.06M common shares owned by the public and among those 48.61M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for OLLI have a consensus price objective of $110.33. The analysts have set the share’s price value over the next 12 months at a high of $135.00 and a low of $65.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Ollie’s Bargain Outlet Holdings Inc. stock is 2.30 for the next 12 months. The average price target is 3.2% above its last price level and an upside to the estimated low will see the stock lose -64.31% over that period. But an upside of 20.89% will see the stock hit the forecast high price target while mean target price for the stock is $119.00.
Insiders at the company have transacted a total of 55 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 165,905 shares. Insider sales of the common stock occurred on 27 occasions, with total insider shares sold totaling 132,217 shares.
The top 3 mutual fund holders in Ollie’s Bargain Outlet Holdings Inc. are Virtus KAR Small Cap Growth Fund, T Rowe Price New Horizons Fund, and Vanguard Total Stock Market Index. Virtus KAR Small Cap Growth Fund owns 4.78 million shares of the company’s stock, all valued at over $467.13 million. The company bought an additional 1.51 million shares recently to bring their total holdings to about 7.28% of the shares outstanding. T Rowe Price New Horizons Fund sold -0.13 million shares to see its total holdings shrink to 2.61 million shares valued at over $254.78 million and representing 3.97% of the shares outstanding. Vanguard Total Stock Market Index sold 11423.0 shares to bring its total holdings to over 1.55 million shares at a value of $151.28 million. Vanguard Total Stock Market Index now owns shares totaling to 2.36% of the shares outstanding.
Shares of Ollie’s Bargain Outlet Holdings Inc. (NASDAQ: OLLI) opened at $106.29, down -$0.54 from a prior closing price of $106.83. However, the script later closed the day at $106.80, down -0.03%. The company’s stock has a 5-day price change of 3.91% and 57.27% over the past three months. OLLI shares are trading 63.53% year to date (YTD), with the 12-month market performance up to 26.11% higher. It has a 12-month low price of $28.83 and touched a high of $110.17 over the same period. Currently, 0.41 million shares have been traded, compared to an average intraday trading volume of 1.51 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.98%, 11.10%, and 57.52% respectively.
Institutional ownership of Ollie’s Bargain Outlet Holdings Inc. (NASDAQ: OLLI) 63.06M shares outstanding. Mutual fund holders own 62.23%, while other institutional holders and individual stakeholders account for 67.86% and 46.33% respectively.
It has a market capitalization of $6.83B and a beta (3y monthly) value of 1.34. The stock’s trailing 12-month PE ratio is 51.54, while the earnings-per-share (ttm) stands at $2.07. The company has a PEG of 2.82 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.48% over the week and 4.26% over the month.
Analysts forecast that Ollie’s Bargain Outlet Holdings Inc. (OLLI) will achieve an EPS of $0.89 for the current quarter, $0.53 for the next quarter and $2.91 for 2022. The lowest estimate earnings-per-share for the quarter is $0.48 while analysts give the company a high EPS estimate of $0.95. Comparatively, EPS for the current quarter was $0.35 a year ago. Earnings per share for the fiscal year are expected to increase by 4.60%, and 3.59% over the next financial year. EPS should shrink at an annualized rate of 18.30% over the next five years, compared to 31.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Ollie’s Bargain Outlet Holdings Inc. (OLLI) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 4 of the 15 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the OLLI, a number of firms have released research notes about the stock. Citigroup stated their Sell rating for the stock in a research note on July 22, 2020, with the firm’s price target at $91. Craig Hallum coverage for the Ollie’s Bargain Outlet Holdings Inc. (OLLI) stock in a research note released on May 26, 2020 offered a Buy rating with a price target of $104. Credit Suisse was of a view on May 26, 2020 that the stock is Neutral, while Goldman gave the stock Buy rating on May 18, 2020, issuing a price target of $84. Wells Fargo on their part issued Overweight rating on April 28, 2020.