Traders Buy Large Volume of Call Options on Ollie’s Bargain Outlet (NASDAQ:OLLI)

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 3,279 call options on the stock. This represents an increase of approximately 148% compared to the typical volume of 1,323 call options.

Wall Street Analyst Weigh In

OLLI has been the subject of several recent research reports. StockNews.com cut Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. UBS Group increased their price objective on shares of Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Truist Financial lifted their price target on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and raised their target price for the stock from $105.00 to $107.00 in a research report on Monday, August 26th. Finally, Bank of America upped their price target on Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.08.

Ollie’s Bargain Outlet Price Performance

Shares of OLLI stock traded up $4.11 during trading hours on Wednesday, reaching $115.13. 294,321 shares of the company’s stock were exchanged, compared to its average volume of 1,041,483. Ollie’s Bargain Outlet has a 1 year low of $68.05 and a 1 year high of $115.98. The company has a market cap of $7.06 billion, a P/E ratio of 33.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.85. The company’s 50 day moving average is $95.30 and its two-hundred day moving average is $94.70.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, topping 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 13.27% and a net margin of 9.19%. Ollie’s Bargain Outlet’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 earnings per share. As a group, analysts predict that Ollie’s Bargain Outlet will post 3.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robert F. Helm sold 2,401 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $94.68, for a total transaction of $227,326.68. Following the completion of the transaction, the chief financial officer now owns 2,021 shares of the company’s stock, valued at approximately $191,348.28. This trade represents a 54.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John W. Swygert sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $102.54, for a total value of $246,096.00. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $4,942,428. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,112 shares of company stock worth $3,614,366 in the last 90 days. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

A number of large investors have recently bought and sold shares of the stock. Royce & Associates LP grew its stake in Ollie’s Bargain Outlet by 161.6% during the third quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock worth $7,349,000 after buying an additional 46,706 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Ollie’s Bargain Outlet by 0.7% in the 3rd 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 in the last quarter. Fred Alger Management LLC raised its position in Ollie’s Bargain Outlet by 12.1% in the third 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 period. Hancock Whitney Corp purchased a new position in Ollie’s Bargain Outlet in the third quarter valued at about $988,000. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of Ollie’s Bargain Outlet by 953.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock worth $55,637,000 after purchasing an additional 512,928 shares in the last quarter.

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.