Ollie’s Bargain Outlet (NASDAQ:OLLI) Shares Up 7.4%

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s share price shot up 7.4% during mid-day trading on Thursday . The stock traded as high as $93.55 and last traded at $92.59. 140,610 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 996,690 shares. The stock had previously closed at $86.23.

Analyst Ratings Changes

Several brokerages have issued reports on OLLI. Truist Financial increased their price target on Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, July 12th. JPMorgan Chase & Co. upgraded Ollie’s Bargain Outlet from a “neutral” rating to an “overweight” rating and set a $105.00 target price on the stock in a research note on Monday, June 17th. UBS Group raised their price target on shares of Ollie’s Bargain Outlet from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday, June 6th. Morgan Stanley boosted their price objective on shares of Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 6th. Finally, Bank of America raised their target price on shares of Ollie’s Bargain Outlet from $92.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.08.

Ollie’s Bargain Outlet Stock Performance

The business’s 50-day moving average price is $95.54 and its 200 day moving average price is $82.89. The company has a market cap of $5.76 billion, a P/E ratio of 29.34, a P/E/G ratio of 2.65 and a beta of 0.90.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Wednesday, June 5th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The company had revenue of $508.82 million during the quarter, compared to analysts’ expectations of $506.49 million. Ollie’s Bargain Outlet had a net margin of 9.14% and a return on equity of 13.22%. Ollie’s Bargain Outlet’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 EPS. Equities research analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.27 earnings per share for the current year.

Insider Transactions at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 2,153 shares of Ollie’s Bargain Outlet stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total value of $224,278.01. Following the completion of the sale, the senior vice president now owns 2,732 shares in the company, valued at approximately $284,592.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 2,153 shares of Ollie’s Bargain Outlet stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total value of $224,278.01. Following the completion of the sale, the senior vice president now owns 2,732 shares in the company, valued at approximately $284,592.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Hendrickson sold 4,500 shares of Ollie’s Bargain Outlet stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $97.54, for a total transaction of $438,930.00. Following the completion of the sale, the director now owns 5,659 shares of the company’s stock, valued at approximately $551,978.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,367 shares of company stock worth $3,061,165. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the 2nd quarter valued at approximately $25,000. Venturi Wealth Management LLC boosted its stake in shares of Ollie’s Bargain Outlet by 194.3% in the 1st quarter. Venturi Wealth Management LLC now owns 309 shares of the company’s stock valued at $25,000 after purchasing an additional 204 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the 2nd quarter valued at approximately $31,000. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the 1st quarter valued at approximately $29,000. Finally, Crewe Advisors LLC bought a new position in Ollie’s Bargain Outlet in the 2nd quarter valued at approximately $36,000.

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.