Ollie’s Bargain Outlet (NASDAQ:OLLI) Lowered to Equal Weight Rating by Wells Fargo & Company

Ollie’s Bargain Outlet (NASDAQ:OLLI) was downgraded by investment analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued on Tuesday, MarketBeat Ratings reports. They presently have a $95.00 price objective on the stock, down from their prior price objective of $100.00. Wells Fargo & Company‘s target price indicates a potential downside of 4.88% from the stock’s current price.

OLLI has been the subject of a number of other reports. Piper Sandler reissued an “overweight” rating and set a $107.00 target price on shares of Ollie’s Bargain Outlet in a research note on Friday, October 4th. Gordon Haskett upgraded Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and lifted their price objective for the stock from $105.00 to $107.00 in a research report on Monday, August 26th. StockNews.com cut shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Loop Capital reiterated a “buy” rating and issued a $110.00 price target on shares of Ollie’s Bargain Outlet in a research report on Friday, September 20th. Finally, Bank of America increased their price target on Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and an average price target of $104.50.

Ollie’s Bargain Outlet Trading Up 0.9 %

Shares of OLLI stock opened at $99.87 on Tuesday. Ollie’s Bargain Outlet has a twelve month low of $68.05 and a twelve month high of $104.98. The business’s 50 day moving average is $94.95 and its two-hundred day moving average is $93.56. The company has a market capitalization of $6.13 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 2.46 and a beta of 0.85.

Insiders Place Their Bets

In other news, SVP Kevin Mclain sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.99, for a total value of $1,484,850.00. Following the completion of the transaction, the senior vice president now directly owns 10,610 shares in the company, valued at approximately $1,050,283.90. This trade represents a 58.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert F. Helm sold 2,401 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total transaction of $227,326.68. Following the completion of the sale, the chief financial officer now directly owns 2,021 shares in the company, valued at approximately $191,348.28. This trade represents a 54.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,712 shares of company stock worth $3,368,270 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Several institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in Ollie’s Bargain Outlet in the 2nd quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Ollie’s Bargain Outlet in the 2nd quarter valued at $31,000. Crewe Advisors LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the second quarter valued at approximately $36,000. GAMMA Investing LLC lifted its position in shares of Ollie’s Bargain Outlet by 686.7% in the second quarter. GAMMA Investing LLC now owns 472 shares of the company’s stock valued at $46,000 after buying an additional 412 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. acquired a new position in shares of Ollie’s Bargain Outlet during the 3rd quarter worth approximately $117,000.

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.