Integrated Wealth Concepts LLC Reduces Holdings in Ollie’s Bargain Outlet

Integrated Wealth Concepts LLC has decided to reduce its stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI – Free Report) by 9.5% during the third quarter, as reported by HoldingsChannel. After selling 319 shares, the institutional investor now holds 3,037 shares of Ollie’s Bargain Outlet. The value of Integrated Wealth Concepts LLC’s holdings in the company stood at approximately $295,000 at the end of the latest quarter.

Other institutional investors have also adjusted their positions in OLLI. For instance, Signaturefd LLC has increased its stake by 6.4% during the second quarter, bringing its total to 1,727 shares valued at about $170,000 after acquiring an additional 104 shares. Similarly, Trust Point Inc. upped its holdings by 1.0% in the third quarter, now owning 13,184 shares worth approximately $1,281,000 following the purchase of 134 extra shares.

FORA Capital LLC made a 3.2% increase in its holdings of Ollie’s Bargain Outlet during the same period, now holding 4,800 shares valued at $467,000 after adding 148 shares. Additionally, GAMMA Investing LLC notably boosted its position by 37.9%, acquiring 651 shares valued at $63,000 after buying 179 shares during the last quarter. Farther Finance Advisors LLC also increased its position by 5.6%, currently owning 3,544 shares valued at $344,000 after purchasing an extra 188 shares.

Insider Sales at Ollie’s Bargain Outlet

In related news, SVP Kevin Mclain sold 15,000 shares of the company on September 16. These shares were sold at an average price of $98.99, totaling approximately $1,484,850. Following this transaction, he holds 10,610 shares valued around $1,050,283.90, marking a decrease of 58.57% in his position. This trade was disclosed in a filing with the Securities and Exchange Commission.

Similarly, on December 11, SVP James J. Comitale sold 5,325 shares for an average price of $113.95, amounting to about $606,783.75. After the sale, Comitale's remaining shares total 3,140, valued at roughly $357,803. In total, insiders have sold 95,755 shares valued at $10,165,712 within the last 90 days, and insiders currently own 0.87% of the company's stock.

Analyst Ratings and Price Targets

Ollie’s Bargain Outlet has recently been discussed in several analyst reports. Notably, JPMorgan Chase & Co. raised its price target from $105.00 to $135.00, maintaining an “overweight” rating. UBS Group also increased its target from $97.00 to $99.00, giving the stock a “neutral” rating.

Loop Capital upgraded their price objective from $110.00 to $120.00, maintaining a “buy” rating. Meanwhile, StockNews.com downgraded Ollie’s shares from a “hold” to a “sell” rating. Bank of America similarly raised its price target from $115.00 to $130.00 while issuing a “buy” recommendation. Currently, one research analyst has rated the stock as a sell, three as hold, and nine as buy, making an average rating of “Moderate Buy” with a price target of $116.58 according to MarketBeat.

Ollie’s Bargain Outlet Stock Performance

As of Friday, NASDAQ OLLI opened at $111.19. The company's market capitalization is $6.82 billion, with a price-to-earnings ratio of 33.19 and a price-to-earnings-growth ratio of 2.53. The stock has a beta of 0.85 and has ranged from a 52-week low of $68.05 to a high of $115.98. Currently, the stock has a 50-day moving average of $95.95 and a 200-day average of $94.95.

Ollie’s Bargain Outlet recently reported its quarterly earnings on December 10, with earnings per share (EPS) of $0.58, which exceeded analysts’ expectations of $0.57. The company had a net margin of 9.19% and a return on equity of 13.27%. Revenue for the quarter was recorded at $517.43 million, slightly below the expectations of $518.83 million, but showing a 7.8% increase year-over-year.

About Ollie’s Bargain Outlet

Ollie’s Bargain Outlet Holdings, Inc. operates as a retailer offering brand name goods across the United States. Their product range includes housewares, bedding, food, floor coverings, health and beauty aids, stationery, toys, electronics, and various other items such as hardware, clothing, sporting goods, and garden products.

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