Ollie’s Bargain Outlet (NASDAQ:OLLI) Trading Down 4.7% – Here’s Why

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) traded down 4.7% during mid-day trading on Friday . The company traded as low as $101.33 and last traded at $100.33. 37,516 shares changed hands during trading, a decline of 96% from the average session volume of 955,922 shares. The stock had previously closed at $105.25.

Analyst Ratings Changes

A number of brokerages recently issued reports on OLLI. Royal Bank of Canada upped their price target on Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Friday. Citigroup raised Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their target price for the company from $64.00 to $133.00 in a report on Wednesday, December 18th. Jefferies Financial Group lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and cut their price target for the stock from $125.00 to $111.00 in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Craig Hallum boosted their price target on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and an average price target of $118.29.

Ollie’s Bargain Outlet Price Performance

The company has a market cap of $6.03 billion, a PE ratio of 29.28, a P/E/G ratio of 2.21 and a beta of 0.81. The firm has a 50-day simple moving average of $106.28 and a two-hundred day simple moving average of $100.90.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. Ollie’s Bargain Outlet’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. Equities research analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Buying and Selling

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 54,318 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $109.44, for a total value of $5,944,561.92. Following the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $5,275,008. This trade represents a 52.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James J. Comitale sold 5,325 shares of the business’s stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,539 shares of company stock valued at $8,498,935. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Large investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Ollie’s Bargain Outlet by 489.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $25,000 after purchasing an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Ollie’s Bargain Outlet by 337.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock valued at $26,000 after purchasing an additional 182 shares in the last quarter. Bogart Wealth LLC bought a new position in shares of Ollie’s Bargain Outlet in the fourth quarter valued at approximately $26,000. Blue Trust Inc. raised its position in Ollie’s Bargain Outlet by 55.2% in the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Ollie’s Bargain Outlet during the fourth quarter valued at approximately $33,000.

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.