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

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 3,160,000 shares, a growth of 20.2% from the February 13th total of 2,630,000 shares. Based on an average trading volume of 1,120,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 5.2% of the company’s stock are short sold.

Analysts Set New Price Targets

OLLI has been the topic of several research reports. Jefferies Financial Group cut shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. Loop Capital raised their price target on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a report on Monday, December 23rd. StockNews.com downgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Truist Financial increased their price target on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Bank of America lifted their price objective on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Ollie’s Bargain Outlet has a consensus rating of “Moderate Buy” and a consensus target price of $118.29.

Ollie’s Bargain Outlet Price Performance

OLLI traded down $4.26 during trading on Tuesday, reaching $99.06. 1,610,192 shares of the company’s stock were exchanged, compared to its average volume of 1,094,387. The stock has a market capitalization of $6.07 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet has a 1 year low of $68.05 and a 1 year high of $120.03. The company’s fifty day simple moving average is $105.06 and its 200-day simple moving average is $101.33.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Ollie’s Bargain Outlet by 489.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $25,000 after buying an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in Ollie’s Bargain Outlet by 337.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock valued at $26,000 after purchasing an additional 182 shares in the last quarter. Bogart Wealth LLC acquired a new position in Ollie’s Bargain Outlet during the fourth quarter worth about $26,000. Blue Trust Inc. boosted its holdings in shares of Ollie’s Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock worth $31,000 after purchasing an additional 101 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Ollie’s Bargain Outlet during the 4th quarter valued at about $33,000.

About Ollie’s Bargain Outlet

Ollie’s Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company’s products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.