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

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 3,100,000 shares, a decrease of 18.8% from the December 15th 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 company’s shares are short sold.

Ollie’s Bargain Outlet Price Performance

Shares of OLLI stock opened at $104.48 on Friday. Ollie’s Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $120.03. The stock’s 50-day moving average is $104.23 and its 200 day moving average is $98.60. The company has a market cap of $6.40 billion, a P/E ratio of 31.19, a PEG ratio of 2.63 and a beta of 0.82.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $517.43 million for the quarter, compared to the consensus estimate of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. On average, analysts anticipate that Ollie’s Bargain Outlet will post 3.29 EPS for the current year.

Insider Activity at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 4,800 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $102.60, for a total value of $492,480.00. Following the sale, the chief executive officer now owns 48,200 shares in the company, valued at $4,945,320. This trade represents a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas Hendrickson sold 6,250 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $114.74, for a total value of $717,125.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,771 shares of company stock worth $9,650,832. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its holdings in Ollie’s Bargain Outlet by 25.3% in the fourth quarter. UMB Bank n.a. now owns 545 shares of the company’s stock worth $60,000 after acquiring an additional 110 shares in the last quarter. Thrive Wealth Management LLC acquired a new stake in Ollie’s Bargain Outlet in the fourth quarter worth about $219,000. Diversify Wealth Management LLC boosted its holdings in Ollie’s Bargain Outlet by 26.8% in the fourth quarter. Diversify Wealth Management LLC now owns 8,651 shares of the company’s stock worth $920,000 after acquiring an additional 1,830 shares in the last quarter. LVW Advisors LLC acquired a new stake in Ollie’s Bargain Outlet in the fourth quarter worth about $627,000. Finally, Everpar Advisors LLC acquired a new stake in Ollie’s Bargain Outlet in the fourth quarter worth about $319,000.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Craig Hallum increased their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. increased their price target on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Loop Capital increased their price target on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Bank of America increased their price target on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Citigroup raised Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and increased their price target for the stock from $64.00 to $133.00 in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and an average price target of $118.62.

About Ollie’s Bargain Outlet

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.