Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Short Interest Update

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 2,440,000 shares, a decrease of 17.3% from the January 15th total of 2,950,000 shares. Currently, 4.0% of the company’s shares are short sold. Based on an average trading volume of 1,120,000 shares, the days-to-cover ratio is currently 2.2 days.

Insider Activity at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 4,032 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $102.51, for a total transaction of $413,320.32. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $4,940,982. This trade represents a 7.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP James J. Comitale sold 5,325 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $113.95, for a total value of $606,783.75. Following the completion of the transaction, the senior vice president now owns 3,140 shares in the company, valued at $357,803. This represents a 62.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,771 shares of company stock worth $9,650,832. 0.87% of the stock is owned by corporate insiders.

Institutional Trading of Ollie’s Bargain Outlet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC grew its position in Ollie’s Bargain Outlet by 173.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock worth $509,671,000 after buying an additional 2,948,393 shares in the last quarter. Congress Asset Management Co. grew its holdings in shares of Ollie’s Bargain Outlet by 181.6% during the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock worth $210,307,000 after purchasing an additional 1,235,994 shares in the last quarter. Norges Bank bought a new stake in shares of Ollie’s Bargain Outlet during the fourth quarter valued at approximately $80,741,000. Stephens Investment Management Group LLC acquired a new position in shares of Ollie’s Bargain Outlet in the fourth quarter valued at $78,356,000. Finally, Holocene Advisors LP lifted its position in Ollie’s Bargain Outlet by 10,159.3% in the third quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock worth $45,821,000 after purchasing an additional 466,818 shares during the period.

Ollie’s Bargain Outlet Stock Performance

Ollie’s Bargain Outlet stock opened at $108.35 on Friday. The business’s 50-day simple moving average is $109.50 and its 200-day simple moving average is $99.99. Ollie’s Bargain Outlet has a 52 week low of $68.05 and a 52 week high of $120.03. The firm has a market capitalization of $6.64 billion, a PE ratio of 32.34, a PEG ratio of 2.33 and a beta of 0.81.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly 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 during the quarter, compared to analyst estimates of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. Research analysts forecast that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citigroup upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and increased their target price for the stock from $64.00 to $133.00 in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price objective on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Ollie’s Bargain Outlet in a research report on Monday, December 23rd. Craig Hallum lifted their price target on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Bank of America raised their price objective on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.07.

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.