Short Interest in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Declines By 18.8%

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

Analyst Upgrades and Downgrades

OLLI has been the topic of a number of analyst reports. Bank of America increased their target price on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their target price on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Citigroup raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their price objective for the company from $64.00 to $133.00 in a research report on Wednesday, December 18th. Loop Capital lifted their target price on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, Piper Sandler increased their price target on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.62.

Ollie’s Bargain Outlet Trading Down 2.6 %

Shares of OLLI stock opened at $97.00 on Thursday. The company has a market cap of $5.94 billion, a PE ratio of 28.96, a P/E/G ratio of 2.63 and a beta of 0.82. The company’s fifty day simple moving average is $104.13 and its 200-day simple moving average is $98.56. Ollie’s Bargain Outlet has a 52 week low of $68.05 and a 52 week high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company had revenue of $517.43 million for the quarter, compared to analyst estimates of $518.83 million. During the same period last year, the company posted $0.51 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that Ollie’s Bargain Outlet will post 3.29 EPS for the current fiscal year.

Insider Activity at Ollie’s Bargain Outlet

In other news, SVP James J. Comitale sold 5,325 shares of Ollie’s Bargain Outlet stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total transaction of $606,783.75. Following the completion of the transaction, the senior vice president now 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 filing with the SEC, which is available through this hyperlink. Also, CEO John W. Swygert sold 4,800 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $102.60, for a total transaction of $492,480.00. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $4,945,320. The trade was a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,771 shares of company stock valued at $9,650,832 in the last ninety days. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Ollie’s Bargain Outlet by 37.9% during the 3rd quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock worth $63,000 after buying an additional 179 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Ollie’s Bargain Outlet during the fourth quarter valued at about $79,000. Northwest & Ethical Investments L.P. purchased a new stake in shares of Ollie’s Bargain Outlet during the third quarter worth about $117,000. LRI Investments LLC boosted its holdings in Ollie’s Bargain Outlet by 2,356.1% in the third quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock valued at $130,000 after purchasing an additional 1,343 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ollie’s Bargain Outlet during the 3rd quarter valued at approximately $151,000.

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.