Short Interest in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Expands By 20.2%

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 3,160,000 shares, a growth of 20.2% from the February 13th total of 2,630,000 shares. Currently, 5.2% of the company’s shares are short sold. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is currently 2.8 days.

Analyst Ratings Changes

OLLI has been the topic of a number of analyst reports. Jefferies Financial Group cut Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and dropped their price target for the stock from $125.00 to $111.00 in a research note on Tuesday, February 4th. Morgan Stanley lifted their price objective on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group lifted their price objective on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. lifted 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 research report on Wednesday, December 11th. Finally, 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 report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ollie’s Bargain Outlet has a consensus rating of “Moderate Buy” and an average price target of $121.86.

Institutional Trading of Ollie’s Bargain Outlet

Several large investors have recently made changes to their positions in OLLI. 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 worth $25,000 after purchasing an additional 191 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in Ollie’s Bargain Outlet by 337.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock valued at $26,000 after acquiring an additional 182 shares during the period. Bogart Wealth LLC bought a new stake in Ollie’s Bargain Outlet during the fourth quarter valued at about $26,000. Blue Trust Inc. boosted its holdings in Ollie’s Bargain Outlet by 55.2% during the fourth quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after acquiring an additional 101 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in Ollie’s Bargain Outlet during the 4th quarter valued at approximately $33,000.

Ollie’s Bargain Outlet Price Performance

OLLI traded down $0.48 during midday trading on Thursday, hitting $107.46. 401,632 shares of the company’s stock traded hands, compared to its average volume of 1,097,030. The company has a market cap of $6.58 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet has a one year low of $68.05 and a one year high of $120.03. The stock’s fifty day simple moving average is $105.13 and its 200-day simple moving average is $101.38.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). The business had revenue of $667.10 million during the quarter, compared to analyst estimates of $674.61 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 EPS. On average, research analysts expect that Ollie’s Bargain Outlet will post 3.29 EPS for the current year.

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.