Ollie’s Bargain Outlet (NASDAQ:OLLI) Shares Gap Down – Here’s Why

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) gapped down before the market opened on Tuesday . The stock had previously closed at $111.92, but opened at $106.78. Ollie’s Bargain Outlet shares last traded at $110.08, with a volume of 639,056 shares trading hands.

Analysts Set New Price Targets

OLLI has been the subject of a number of research analyst reports. Jefferies Financial Group lowered shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and reduced their price target for the stock from $125.00 to $111.00 in a research note on Tuesday, February 4th. Wall Street Zen raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Piper Sandler dropped their target price on shares of Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Morgan Stanley raised their target price on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. upped their price target on Ollie’s Bargain Outlet from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $124.07.

Ollie’s Bargain Outlet Trading Down 1.2%

The business has a fifty day moving average price of $111.63 and a two-hundred day moving average price of $107.73. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of 2.21 and a beta of 0.45.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. During the same quarter in the prior year, the firm earned $0.73 EPS. Ollie’s Bargain Outlet’s revenue was up 13.4% on a year-over-year basis. On average, analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Transactions at Ollie’s Bargain Outlet

In related news, CFO Robert F. Helm sold 312 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $107.17, for a total value of $33,437.04. Following the transaction, the chief financial officer now owns 3,273 shares in the company, valued at approximately $350,767.41. This represents a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman John W. Swygert sold 6,526 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $107.87, for a total transaction of $703,959.62. Following the transaction, the chairman now directly owns 53,432 shares in the company, valued at approximately $5,763,709.84. The trade was a 10.88% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,897 shares of company stock valued at $4,227,970. 0.75% of the stock is owned by insiders.

Institutional Trading of Ollie’s Bargain Outlet

A number of institutional investors and hedge funds have recently made changes to their positions in OLLI. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Ollie’s Bargain Outlet by 489.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $25,000 after acquiring an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in Ollie’s Bargain Outlet by 337.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock worth $26,000 after purchasing an additional 182 shares during the period. Bogart Wealth LLC acquired a new position in Ollie’s Bargain Outlet during the fourth quarter valued at approximately $26,000. HM Payson & Co. bought a new position in shares of Ollie’s Bargain Outlet in the first quarter valued at approximately $30,000. Finally, Blue Trust Inc. lifted its stake in shares of Ollie’s Bargain Outlet by 55.2% in the fourth quarter. Blue Trust Inc. now owns 284 shares of the company’s stock worth $31,000 after buying an additional 101 shares during the last quarter.

Ollie’s Bargain Outlet Company Profile

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.