Should You Still Consider Investing in Ollie’s Bargain Outlet (OLLI)?

Harding Loevner, an investment management firm, published its “Global Small Companies Equity Fund” third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net return of 1.94% was recorded by the fund for the third quarter of 2021, beating its Benchmark, the MSCI All Country World Small Cap Index, which returned -1.42 % for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Harding Loevner Global Small Companies Equity Fund, in its Q3 2021 investor letter, mentioned Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) and discussed its stance on the firm. Ollie’s Bargain Outlet Holdings, Inc. is a Harrisburg, Pennsylvania-based discount store company with a $4.0 billion market capitalization. OLLI delivered a -38.87% return since the beginning of the year, while its 12-month returns are down by -38.06%. The stock closed at $49.99 per share on December 03, 2021.

Here is what Harding Loevner Global Small Companies Equity Fund has to say about Ollie’s Bargain Outlet Holdings, Inc.  in its Q3 2021 investor letter:

“Ollie’s Bargain Outlet, a US-based discount retailer, detracted. The company reported a 21% year-over-year decline in revenue compared to a very strong quarter a year ago, when the first wave of US government stimulus checks led to a burst of consumer spending.”

mike-petrucci-c9FQyqIECds-unsplash

Based on our calculations, Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. OLLI was in 18 hedge fund portfolios at the end of the third quarter of 2021, compared to 21 funds in the previous quarter. Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) delivered a -30.33% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.