Ollie’s Bargain Outlet Holdings (OLLI) Gained on Same Store Sales Growth
Harding Loevner, an asset management company, released its “Global Small Companies Equity Strategy” third-quarter 2023 investor letter. A copy of the same can be downloaded here. Global small caps fell sharply in the third quarter. Japan was the weakest region, although returns in healthcare were good and industrials detracted. The strategy returned -5.36% (net) compared to a -3.29% decline for the MSCI All Country World Small Cap Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Harding Loevner Global Small Companies Equity Strategy highlighted stocks like Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the third quarter 2023 investor letter. Headquartered in Harrisburg, Pennsylvania, Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) is a retailer of brand-name merchandise. On December 18, 2023, Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) stock closed at $70.92 per share. One-month return of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was -8.00%, and its shares gained 52.12% of their value over the last 52 weeks. Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) has a market capitalization of $4.368 billion.
Harding Loevner Global Small Companies Equity Strategy made the following comment about Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in its Q3 2023 investor letter:
"By region, Japan was the weakest, more than offsetting good stock selection in the US. In the US, discount retailer Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) gained sharply after the company reported accelerating same store sales growth as higher-income customers found value in the company's offerings."
A team of shoppers selecting items from a wide range of brand-name merchandise in a discount store.
Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) at the end of third quarter which was 26 in the previous quarter.
We discussed Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in another article and shared Madison Small Cap Fund's views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
