Short Interest in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Decreases By 13.4%

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 3,440,000 shares, a decrease of 13.4% from the April 30th total of 3,970,000 shares. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 5.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OLLI. Truist Financial upped their target price on Ollie’s Bargain Outlet from $126.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp reaffirmed an “overweight” rating and issued a $135.00 target price on shares of Ollie’s Bargain Outlet in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Ollie’s Bargain Outlet from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Royal Bank of Canada reissued an “outperform” rating and set a $133.00 price objective on shares of Ollie’s Bargain Outlet in a report on Wednesday. Finally, Wall Street Zen raised Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.50.

Ollie’s Bargain Outlet Stock Up 4.1%

Shares of NASDAQ OLLI opened at $114.41 on Thursday. Ollie’s Bargain Outlet has a 52 week low of $82.84 and a 52 week high of $122.15. The business has a 50-day simple moving average of $111.59 and a two-hundred day simple moving average of $107.79. The company has a market cap of $7.03 billion, a P/E ratio of 34.15, a P/E/G ratio of 2.21 and a beta of 0.45.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $565.04 million. During the same quarter last year, the company earned $0.73 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. Equities research analysts anticipate that Ollie’s Bargain Outlet will post 3.29 EPS for the current year.

Insider Transactions at Ollie’s Bargain Outlet

In other news, Director Robert Fisch sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $108.08, for a total value of $675,500.00. Following the completion of the transaction, the director now directly owns 22,159 shares of the company’s stock, valued at $2,394,944.72. This represents a 22.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Robert F. Helm sold 312 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $107.17, for a total value of $33,437.04. Following the completion of the transaction, the chief financial officer now directly owns 3,273 shares of the company’s stock, valued at approximately $350,767.41. This represents a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,897 shares of company stock valued at $4,227,970 over the last ninety days. 0.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Hawaiian Bank raised its position in shares of Ollie’s Bargain Outlet by 0.9% in the first quarter. First Hawaiian Bank now owns 19,325 shares of the company’s stock worth $2,249,000 after buying an additional 180 shares in the last quarter. Strs Ohio purchased a new stake in shares of Ollie’s Bargain Outlet in the first quarter worth $1,561,000. Belpointe Asset Management LLC raised its position in shares of Ollie’s Bargain Outlet by 1.3% in the first quarter. Belpointe Asset Management LLC now owns 7,001 shares of the company’s stock worth $815,000 after buying an additional 91 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Ollie’s Bargain Outlet by 89.2% in the first quarter. Intech Investment Management LLC now owns 23,775 shares of the company’s stock worth $2,766,000 after buying an additional 11,210 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Ollie’s Bargain Outlet by 12.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 183,412 shares of the company’s stock valued at $21,342,000 after purchasing an additional 19,837 shares in the last quarter.

Ollie’s Bargain Outlet Company Profile

Ollie’s Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company’s products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.