The Manufacturers Life Insurance Company Buys Shares of 41,639 Ollie’s Bargain Outlet Holdings, Inc. $OLLI

The Manufacturers Life Insurance Company purchased a new position in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the second quarter, HoldingsChannel reports. The fund purchased 41,639 shares of the company’s stock, valued at approximately $3,201,000.

Other hedge funds also recently made changes to their positions in the company. D.B. Root & Company LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the second quarter valued at approximately $724,000. Sanctuary Advisors LLC acquired a new position in Ollie’s Bargain Outlet during the second quarter worth $809,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Ollie’s Bargain Outlet during the second quarter worth $30,660,000. PEAK6 LLC bought a new position in Ollie’s Bargain Outlet in the second quarter valued at $219,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Ollie’s Bargain Outlet in the second quarter valued at $459,000.

Ollie’s Bargain Outlet Trading Down 4.1%

Shares of OLLI opened at $72.34 on Wednesday. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.33 and a beta of 0.50. Ollie’s Bargain Outlet Holdings, Inc. has a 1-year low of $60.29 and a 1-year high of $139.21. The company’s fifty day simple moving average is $72.24 and its 200 day simple moving average is $84.76.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $658.93 million for the quarter, compared to analyst estimates of $661.65 million. Ollie’s Bargain Outlet had a net margin of 9.13% and a return on equity of 13.43%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 earnings per share. As a group, research analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 4.44 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler cut their price target on shares of Ollie’s Bargain Outlet from $114.00 to $113.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 18th. JPMorgan Chase & Co. raised their price objective on Ollie’s Bargain Outlet from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Tuesday, August 18th. KeyCorp decreased their price objective on Ollie’s Bargain Outlet from $140.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $121.00 target price on shares of Ollie’s Bargain Outlet in a research report on Tuesday, August 25th. Finally, Morgan Stanley reduced their price target on Ollie’s Bargain Outlet from $120.00 to $108.00 and set an “equal weight” rating for the company in a research report on Thursday, June 4th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.29.

Ollie’s Bargain Outlet Profile

Ollie’s Bargain Outlet is an American discount retailer specializing in closeout merchandise and surplus inventory across a broad range of categories. The company operates a no-frills retail format that offers branded and private-label products at significant markdowns. Its merchandise mix typically includes housewares, electronics, health and beauty items, food products, beauty supplies, books, toys, and seasonal goods.

Founded in 1982 by Oliver E. “Ollie” Rosenberg, the company is headquartered in Harrisburg, Pennsylvania.