Ollie’s Bargain Outlet (NASDAQ:OLLI) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Ollie’s Bargain Outlet (NASDAQ:OLLI) issued its earnings results on Wednesday. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04, Briefing.com reports. Ollie’s Bargain Outlet had a return on equity of 13.18% and a net margin of 9.08%.The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share.

Ollie’s Bargain Outlet Stock Performance

Shares of NASDAQ OLLI opened at $79.25 on Wednesday. The stock has a market cap of $4.81 billion, a PE ratio of 20.32, a PEG ratio of 1.42 and a beta of 0.46. The business has a fifty day moving average of $87.45 and a two-hundred day moving average of $104.03. Ollie’s Bargain Outlet has a 52-week low of $73.32 and a 52-week high of $141.74.

Insider Activity

In other Ollie’s Bargain Outlet news, Chairman John W. Swygert sold 5,231 shares of Ollie’s Bargain Outlet stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $92.09, for a total transaction of $481,722.79. Following the completion of the transaction, the chairman directly owned 48,200 shares of the company’s stock, valued at approximately $4,438,738. This trade represents a 9.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,459 shares of company stock worth $1,149,218 over the last three months. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Balyasny Asset Management L.P. bought a new position in shares of Ollie’s Bargain Outlet in the third quarter valued at about $136,152,000. Invesco Ltd. raised its holdings in shares of Ollie’s Bargain Outlet by 17.2% in the third quarter. Invesco Ltd. now owns 2,992,848 shares of the company’s stock valued at $384,282,000 after buying an additional 440,243 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of Ollie’s Bargain Outlet in the fourth quarter valued at about $44,168,000. Marshall Wace LLP raised its holdings in shares of Ollie’s Bargain Outlet by 1,082.9% in the third quarter. Marshall Wace LLP now owns 390,196 shares of the company’s stock valued at $50,101,000 after buying an additional 357,210 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Ollie’s Bargain Outlet by 57.1% in the fourth quarter. Wellington Management Group LLP now owns 953,008 shares of the company’s stock valued at $104,459,000 after buying an additional 346,543 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wells Fargo & Company reduced their target price on Ollie’s Bargain Outlet from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Jefferies Financial Group raised Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and raised their target price for the stock from $120.00 to $130.00 in a research report on Thursday, April 2nd. Royal Bank Of Canada reduced their target price on Ollie’s Bargain Outlet from $153.00 to $152.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Weiss Ratings cut Ollie’s Bargain Outlet from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $128.00 price objective (down from $140.00) on shares of Ollie’s Bargain Outlet in a report on Friday, March 13th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.21.

About Ollie’s Bargain Outlet

Ollie’s Bargain Outlet is an American discount retailer specializing in closeout merchandise and surplus inventory across a broad range of categories. The company operates a no-frills retail format that offers branded and private-label products at significant markdowns. Its merchandise mix typically includes housewares, electronics, health and beauty items, food products, beauty supplies, books, toys, and seasonal goods.

Founded in 1982 by Oliver E. “Ollie” Rosenberg, the company is headquartered in Harrisburg, Pennsylvania.