Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Short Interest Update

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

Ollie’s Bargain Outlet Price Performance

Shares of OLLI traded up $2.38 during midday trading on Friday, hitting $106.86. 1,397,541 shares of the company traded hands, compared to its average volume of 975,840. Ollie’s Bargain Outlet has a one year low of $68.05 and a one year high of $120.03. The firm has a market cap of $6.55 billion, a P/E ratio of 31.90, a PEG ratio of 2.63 and a beta of 0.82. The stock has a 50-day moving average of $104.39 and a 200-day moving average of $98.66.

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

Insider Buying and Selling at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 5,325 shares of Ollie’s Bargain Outlet stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $113.95, for a total transaction of $606,783.75. Following the transaction, the senior vice president now directly owns 3,140 shares of the company’s stock, valued at $357,803. The trade was a 62.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Larry Kraus sold 10,646 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $115.58, for a total transaction of $1,230,464.68. Following the transaction, the senior vice president now owns 1,905 shares in the company, valued at approximately $220,179.90. This trade represents a 84.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,771 shares of company stock worth $9,650,832. 0.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its holdings in shares of Ollie’s Bargain Outlet by 6.1% during the second quarter. Commonwealth Equity Services LLC now owns 7,574 shares of the company’s stock worth $744,000 after purchasing an additional 433 shares in the last quarter. Federated Hermes Inc. lifted its position 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 valued at $2,738,000 after purchasing an additional 5,618 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Ollie’s Bargain Outlet by 6.0% in the 2nd 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 in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Ollie’s Bargain Outlet by 8.9% in the 2nd 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 in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Ollie’s Bargain Outlet by 26.4% in the 2nd 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.

Wall Street Analyst Weigh In

OLLI has been the subject of several research reports. Wells Fargo & Company increased their price target on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Bank of America raised their price target on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Monday, December 23rd. JPMorgan Chase & Co. raised their target price on 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, Piper Sandler upped their price target on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.62.

About Ollie’s Bargain Outlet

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.