Ollie’s Bargain Outlet (NASDAQ:OLLI) Shares Gap Up – Should You Buy?

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $97.00, but opened at $100.96. Ollie’s Bargain Outlet shares last traded at $101.71, with a volume of 196,382 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OLLI. Piper Sandler raised their target price on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. StockNews.com downgraded Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Wednesday. Bank of America increased their target price 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. Loop Capital raised their price target on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and an average target price of $118.62.

Ollie’s Bargain Outlet Trading Up 2.3 %

The stock’s 50 day moving average price is $104.39 and its 200 day moving average price is $98.66. The firm has a market cap of $6.55 billion, a PE ratio of 31.90, a P/E/G ratio of 2.63 and a beta of 0.82.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings results 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. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The business had revenue of $517.43 million during the quarter, compared to analyst estimates of $518.83 million. During the same period last year, the business earned $0.51 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Insider Buying and Selling at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 5,325 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total transaction of $606,783.75. Following the transaction, the senior vice president now owns 3,140 shares of the company’s stock, valued at $357,803. This trade represents a 62.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John W. Swygert sold 2,400 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $102.54, for a total value of $246,096.00. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, 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 87,771 shares of company stock worth $9,650,832 in the last 90 days. 0.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

A number of large investors have recently bought and sold shares of OLLI. Federated Hermes Inc. grew its stake in Ollie’s Bargain Outlet by 25.2% during the 2nd quarter. Federated Hermes Inc. now owns 27,889 shares of the company’s stock worth $2,738,000 after buying an additional 5,618 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Ollie’s Bargain Outlet by 6.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 237,267 shares of the company’s stock worth $23,292,000 after acquiring an additional 13,460 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Ollie’s Bargain Outlet by 8.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,392 shares of the company’s stock valued at $431,000 after purchasing an additional 359 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Ollie’s Bargain Outlet by 26.4% during the 2nd quarter. Hsbc Holdings PLC now owns 5,297 shares of the company’s stock valued at $518,000 after purchasing an additional 1,106 shares during the period. Finally, XTX Topco Ltd boosted its stake in Ollie’s Bargain Outlet by 85.0% during the 2nd quarter. XTX Topco Ltd now owns 6,440 shares of the company’s stock valued at $632,000 after purchasing an additional 2,958 shares during the period.

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.