Hedge Funds Are Flooding Into Ollie’s Bargain Outlet Holdings Inc (OLLI): Are You Missing the Boat?

Now, key hedge funds were leading the bulls’ herd. Waratah Capital Advisors, managed by Brad Dunkley and Blair Levinsky, initiated the largest position in Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI). Waratah Capital Advisors had $3.6 million invested in the company at the end of the quarter. Leon Cooperman’s Omega Advisors also made a $2.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Sander Gerber’s Hudson Bay Capital Management, John Tompkins’ Tyvor Capital, and Michael Platt and William Reeves’ BlueCrest Capital Mgmt.

Let’s check out hedge fund activity in other stocks similar to Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI). We will take a look at The Empire District Electric Company (NYSE:EDE), WMS Industries Inc. (NYSE:WMS), Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX), and Pennsylvania R.E.I.T. (NYSE:PEI). This group of stocks’ market values resemble OLLI’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
EDE 7 116219 -3
WMS 13 312542 2
LXRX 18 113394 1
PEI 9 43041 -4

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $146 million. That figure was $183 million in OLLI’s case. Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) is the most popular stock in this table. On the other hand The Empire District Electric Company (NYSE:EDE) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None