Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Sees Large Drop in Short Interest

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 3,100,000 shares, a drop of 18.8% from the December 15th total of 3,820,000 shares. Based on an average daily volume of 1,130,000 shares, the days-to-cover ratio is presently 2.7 days. Approximately 5.1% of the shares of the company are short sold.

Insider Transactions at Ollie’s Bargain Outlet

In other news, SVP James J. Comitale sold 5,325 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was 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 directly owns 3,140 shares in the company, valued at $357,803. This trade represents a 62.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John W. Swygert sold 4,800 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $102.60, for a total value of $492,480.00. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at approximately $4,945,320. The trade was a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,771 shares of company stock worth $9,650,832 over the last three months. 0.87% of the stock is currently owned by insiders.

Institutional Trading of Ollie’s Bargain Outlet

A number of institutional investors have recently made changes to their positions in OLLI. Commonwealth Equity Services LLC boosted its stake in shares of Ollie’s Bargain Outlet by 6.1% in the second quarter. Commonwealth Equity Services LLC now owns 7,574 shares of the company’s stock worth $744,000 after acquiring an additional 433 shares during the last quarter. Federated Hermes Inc. boosted its stake in Ollie’s Bargain Outlet by 25.2% during the second 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. boosted its stake in Ollie’s Bargain Outlet by 6.0% during the second quarter. Envestnet Asset Management Inc. now owns 237,267 shares of the company’s stock worth $23,292,000 after buying an additional 13,460 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Ollie’s Bargain Outlet by 8.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,392 shares of the company’s stock worth $431,000 after buying an additional 359 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Ollie’s Bargain Outlet by 26.4% during the second quarter. Hsbc Holdings PLC now owns 5,297 shares of the company’s stock worth $518,000 after buying an additional 1,106 shares during the last quarter.

Ollie’s Bargain Outlet Trading Up 7.7 %

Shares of OLLI opened at $104.48 on Friday. The stock’s 50 day moving average is $104.23 and its two-hundred day moving average is $98.60. The firm has a market cap of $6.40 billion, a P/E ratio of 31.19, a PEG ratio of 2.63 and a beta of 0.82. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $517.43 million for 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 business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Equities research analysts forecast that Ollie’s Bargain Outlet will post 3.29 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on OLLI. Truist Financial lifted their price target on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Citigroup upgraded Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and lifted their price target for the company from $64.00 to $133.00 in a research report on Wednesday, December 18th. 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 research report on Wednesday, December 11th. StockNews.com cut Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 price target on shares of Ollie’s Bargain Outlet in a research report on Monday, December 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.62.

Ollie’s Bargain Outlet Company Profile

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.