Insider Selling: Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Chairman Sells 5,232 Shares of Stock

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Chairman John W. Swygert sold 5,232 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $112.51, for a total value of $588,652.32. Following the completion of the transaction, the chairman now owns 48,200 shares in the company, valued at approximately $5,422,982. This trade represents a 9.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Ollie’s Bargain Outlet Stock Performance

Shares of NASDAQ OLLI traded up $0.17 during midday trading on Friday, reaching $113.24. 923,401 shares of the company’s stock were exchanged, compared to its average volume of 1,105,487. Ollie’s Bargain Outlet Holdings, Inc. has a 52-week low of $68.05 and a 52-week high of $120.03. The business’s fifty day moving average price is $105.83 and its two-hundred day moving average price is $102.10. The stock has a market capitalization of $6.94 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted 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 for the quarter, compared to analysts’ expectations of $674.61 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. Ollie’s Bargain Outlet’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 earnings per share. Analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OLLI has been the subject of a number of research analyst reports. Royal Bank of Canada increased their target price on shares of Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. Piper Sandler decreased their price objective on shares of Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Loop Capital raised their target price on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. StockNews.com lowered shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Finally, Bank of America raised their price objective on 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.08.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OLLI. Vanguard Group Inc. raised its stake in shares of Ollie’s Bargain Outlet by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company’s stock valued at $638,843,000 after purchasing an additional 70,496 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake 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 valued at $509,671,000 after buying an additional 2,948,393 shares in the last quarter. Congress Asset Management Co. lifted its holdings in 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 buying an additional 1,235,994 shares during the last quarter. State Street Corp grew its position in shares of Ollie’s Bargain Outlet by 2.1% in the 3rd quarter. State Street Corp now owns 1,871,047 shares of the company’s stock worth $181,866,000 after acquiring an additional 38,203 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Ollie’s Bargain Outlet by 1.1% in the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company’s stock valued at $180,558,000 after acquiring an additional 17,302 shares during the last quarter.

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.