Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price Up 5.2% – Here’s What Happened

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s share price was up 5.2% on Thursday . The stock traded as high as $112.79 and last traded at $113.81. Approximately 161,578 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,086,573 shares. The stock had previously closed at $108.17.

Analyst Ratings Changes

OLLI has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Craig Hallum upped their price target on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Royal Bank of Canada raised their price target on Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Piper Sandler dropped their price target on shares of Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.08.

Ollie’s Bargain Outlet Trading Up 0.2 %

The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.21 and a beta of 0.83. The company’s 50 day simple moving average is $105.96 and its 200-day simple moving average is $102.24.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). The business had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $674.61 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 EPS. Sell-side analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Activity at Ollie’s Bargain Outlet

In other news, Chairman John W. Swygert sold 5,232 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $112.51, for a total transaction of $588,652.32. Following the completion of the sale, the chairman now directly owns 48,200 shares of the company’s stock, valued at $5,422,982. The trade was a 9.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert F. Helm sold 2,145 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $108.50, for a total value of $232,732.50. Following the completion of the transaction, the chief financial officer now directly owns 3,888 shares in the company, valued at $421,848. This trade represents a 35.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,153 shares of company stock worth $2,200,844. 0.87% of the stock is owned by company insiders.

Institutional Trading of Ollie’s Bargain Outlet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Corient Private Wealth LLC increased its position in shares of Ollie’s Bargain Outlet by 86.2% in the fourth quarter. Corient Private Wealth LLC now owns 8,438 shares of the company’s stock worth $926,000 after acquiring an additional 3,906 shares in the last quarter. Oak Thistle LLC acquired a new stake in Ollie’s Bargain Outlet in the 4th quarter valued at $1,345,000. JPMorgan Chase & Co. raised its position in Ollie’s Bargain Outlet by 79.6% in the third quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company’s stock valued at $18,400,000 after purchasing an additional 83,882 shares during the period. Van ECK Associates Corp lifted its stake in shares of Ollie’s Bargain Outlet by 36.5% during the fourth quarter. Van ECK Associates Corp now owns 46,659 shares of the company’s stock worth $5,120,000 after purchasing an additional 12,476 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Ollie’s Bargain Outlet by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock worth $73,256,000 after buying an additional 5,438 shares during the period.

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.