Traders Purchase High Volume of Put Options on Ollie’s Bargain Outlet (NASDAQ:OLLI)

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) saw unusually large options trading activity on Wednesday. Stock traders purchased 7,004 put options on the stock. This is an increase of 585% compared to the typical daily volume of 1,022 put options.

Ollie’s Bargain Outlet Trading Up 0.2 %

NASDAQ OLLI traded up $0.19 during trading hours on Wednesday, reaching $101.09. 1,246,683 shares of the company traded hands, compared to its average volume of 1,030,303. The stock has a market capitalization of $6.20 billion, a PE ratio of 30.76, a PEG ratio of 2.50 and a beta of 0.84. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $104.98. The company has a 50 day moving average of $94.86 and a two-hundred day moving average of $92.81.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The business had revenue of $578.38 million for the quarter, compared to analysts’ expectations of $561.60 million. During the same quarter last year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts anticipate that Ollie’s Bargain Outlet will post 3.27 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Royal Bank of Canada raised their price target on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Bank of America lifted their target price on shares of Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com lowered Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and upped their target price for the stock from $105.00 to $107.00 in a research report on Monday, August 26th. Finally, UBS Group raised their target price on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ollie’s Bargain Outlet currently has an average rating of “Moderate Buy” and an average target price of $104.92.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, President Der Valk Eric Van sold 7,479 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the completion of the sale, the president now owns 5,615 shares of the company’s stock, valued at approximately $563,296.80. The trade was a 57.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert F. Helm sold 2,401 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $94.68, for a total value of $227,326.68. Following the completion of the transaction, the chief financial officer now owns 2,021 shares in the company, valued at approximately $191,348.28. This trade represents a 54.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,912 shares of company stock valued at $2,875,790 in the last ninety days. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

A number of institutional investors have recently made changes to their positions in the company. Royce & Associates LP boosted its holdings in Ollie’s Bargain Outlet by 161.6% in the third quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock worth $7,349,000 after purchasing an additional 46,706 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of Ollie’s Bargain Outlet by 953.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock worth $55,637,000 after buying an additional 512,928 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Ollie’s Bargain Outlet by 36.0% in the 2nd quarter. King Luther Capital Management Corp now owns 109,827 shares of the company’s stock valued at $10,782,000 after buying an additional 29,061 shares during the period. Van ECK Associates Corp bought a new stake in shares of Ollie’s Bargain Outlet during the 2nd quarter valued at about $2,397,000. Finally, Emerald Mutual Fund Advisers Trust raised its stake in Ollie’s Bargain Outlet by 20.4% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 178,567 shares of the company’s stock worth $17,530,000 after acquiring an additional 30,217 shares during the period.

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.