Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Sees Large Drop in Short Interest

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 3,100,000 shares, a decrease of 18.8% from the December 31st total of 3,820,000 shares. Based on an average daily trading volume, of 1,130,000 shares, the short-interest ratio is presently 2.7 days. Currently, 5.1% of the shares of the stock are short sold.

Insider Transactions at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 4,032 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $102.51, for a total transaction of $413,320.32. Following the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at approximately $4,940,982. This trade represents a 7.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Larry Kraus sold 10,646 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $115.58, for a total transaction of $1,230,464.68. Following the sale, the senior vice president now owns 1,905 shares of the company’s stock, valued at approximately $220,179.90. The trade was a 84.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,771 shares of company stock valued at $9,650,832 in the last quarter. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP boosted its position in shares of Ollie’s Bargain Outlet by 161.6% during the 3rd quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock valued at $7,349,000 after acquiring an additional 46,706 shares during the last quarter. Oak Thistle LLC purchased a new position in Ollie’s Bargain Outlet in the fourth quarter worth about $1,345,000. JPMorgan Chase & Co. increased its stake in Ollie’s Bargain Outlet by 79.6% during the third quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company’s stock worth $18,400,000 after acquiring an additional 83,882 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Ollie’s Bargain Outlet by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock valued at $73,256,000 after purchasing an additional 5,438 shares during the period. Finally, Fred Alger Management LLC lifted its stake in shares of Ollie’s Bargain Outlet by 12.1% in the 3rd quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock valued at $75,052,000 after purchasing an additional 83,063 shares during the last quarter.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI stock traded up $2.42 during mid-day trading on Thursday, reaching $115.01. 45,612 shares of the company’s stock traded hands, compared to its average volume of 1,014,264. The firm has a market capitalization of $7.05 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 2.75 and a beta of 0.82. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $120.03. The firm has a 50 day moving average price of $107.63 and a two-hundred day moving average price of $99.39.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company had revenue of $517.43 million during the quarter, compared to the consensus estimate of $518.83 million. During the same period in the previous year, the company posted $0.51 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts expect that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OLLI has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $130.00 target price on shares of Ollie’s Bargain Outlet in a report on Monday, December 23rd. Truist Financial upped their price objective on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company lifted their target price on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Piper Sandler boosted their price target on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Craig Hallum raised their price objective on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Ollie’s Bargain Outlet currently has an average rating of “Moderate Buy” and an average target price of $118.62.

Ollie’s Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.