Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Sees Significant Decrease in Short Interest

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report) was the target of a significant decrease in short interest in 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. Currently, 5.6% of the company's stock are sold short. Based on an average daily volume of 1,330,000 shares, the short-interest ratio is currently 2.6 days.

Ollie's Bargain Outlet Stock Performance

Shares of OLLI traded up $4.50 during trading hours on Wednesday, hitting $114.41. The stock had a trading volume of 2,522,567 shares, compared to its average volume of 1,187,678. The firm has a 50-day moving average price of $111.59 and a 200 day moving average price of $107.79. Ollie's Bargain Outlet has a fifty-two week low of $82.84 and a fifty-two week high of $122.15. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 2.21 and a beta of 0.45.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company had revenue of $576.77 million during the quarter, compared to analysts' expectations of $565.04 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. As a group, analysts predict that Ollie's Bargain Outlet will post 3.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OLLI. 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. Jefferies Financial Group downgraded Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and dropped their price target for the company from $125.00 to $111.00 in a research note on Tuesday, February 4th. Truist Financial raised their price objective on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the stock a "buy" rating in a research note on Wednesday. UBS Group lifted their target price on Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Finally, Wall Street Zen upgraded Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Ollie's Bargain Outlet presently has a consensus rating of "Moderate Buy" and a consensus target price of $124.50.

Insider Transactions at Ollie's Bargain Outlet

In related news, CFO Robert F. Helm sold 2,145 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $108.50, for a total transaction of $232,732.50. Following the transaction, the chief financial officer now directly owns 3,888 shares of the company's stock, valued at $421,848. This represents a 35.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Fisch sold 6,250 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $108.08, for a total value of $675,500.00. Following the sale, the director now owns 22,159 shares in the company, valued at $2,394,944.72. The trade was a 22.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,897 shares of company stock valued at $4,227,970. Corporate insiders own 0.75% of the company's stock.

Institutional Trading of Ollie's Bargain Outlet

Several institutional investors have recently bought and sold shares of OLLI. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Ollie's Bargain Outlet by 489.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock valued at $25,000 after buying an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Ollie's Bargain Outlet by 337.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company's stock valued at $26,000 after acquiring an additional 182 shares during the last quarter. Bogart Wealth LLC purchased a new position in shares of Ollie's Bargain Outlet in the fourth quarter valued at approximately $26,000. HM Payson & Co. acquired a new stake in shares of Ollie's Bargain Outlet in the first quarter worth approximately $30,000. Finally, City Holding Co. purchased a new stake in shares of Ollie's Bargain Outlet during the first quarter worth approximately $31,000.

About Ollie's Bargain Outlet

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.

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