Ollie's Bargain Outlet (NASDAQ:OLLI) Chairman Sells $14,224,796.46 in Stock

Key Points

• Ollie's Bargain Outlet Chairman John Swygert sold $14.22 million worth of stock by selling 107,058 shares at an average price of $132.87, reducing his position by 68.95%.
• The company reported a 17.5% year-over-year revenue increase, with earnings per share of $0.99, exceeding the consensus estimate of $0.91.
• Several analysts recently increased their price targets for Ollie's stock, with Morgan Stanley raising it from $118 to $145 and Royal Bank of Canada from $144 to $149.

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report) Chairman John Swygert sold 107,058 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $132.87, for a total value of $14,224,796.46. Following the completion of the sale, the chairman directly owned 48,200 shares of the company's stock, valued at approximately $6,404,334. The trade was a 68.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Ollie's Bargain Outlet Trading Up 2.4%

NASDAQ OLLI traded up $3.14 during trading hours on Wednesday, hitting $134.68. 766,119 shares of the company's stock were exchanged, compared to its average volume of 1,168,158. The stock has a 50-day simple moving average of $133.65 and a 200 day simple moving average of $121.18. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $86.88 and a 1-year high of $141.74. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 2.72 and a beta of 0.45.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its earnings results on Thursday, August 28th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.91 by $0.08. Ollie's Bargain Outlet had a return on equity of 12.66% and a net margin of 8.74%.The business had revenue of $679.56 million during the quarter, compared to analysts' expectations of $658.03 million. During the same quarter last year, the firm posted $0.78 earnings per share. The firm's revenue was up 17.5% on a year-over-year basis. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. On average, sell-side analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ollie's Bargain Outlet

Several institutional investors have recently added to or reduced their stakes in OLLI. HM Payson & Co. bought a new stake in shares of Ollie's Bargain Outlet in the first quarter valued at $30,000. City Holding Co. bought a new stake in Ollie's Bargain Outlet in the 1st quarter valued at about $31,000. Assetmark Inc. raised its stake in Ollie's Bargain Outlet by 44.8% in the 2nd quarter. Assetmark Inc. now owns 265 shares of the company's stock valued at $35,000 after acquiring an additional 82 shares during the period. Maseco LLP bought a new stake in Ollie's Bargain Outlet in the 2nd quarter valued at about $36,000. Finally, Opal Wealth Advisors LLC bought a new stake in Ollie's Bargain Outlet in the 1st quarter valued at about $38,000.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on Ollie's Bargain Outlet from $118.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Friday, August 29th. Loop Capital cut Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price objective for the company. in a research note on Tuesday, June 24th. Royal Bank Of Canada raised their price objective on Ollie's Bargain Outlet from $144.00 to $149.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Wells Fargo & Company raised their price objective on Ollie's Bargain Outlet from $105.00 to $130.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Finally, Bank of America raised their price objective on Ollie's Bargain Outlet from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Ollie's Bargain Outlet currently has a consensus rating of "Moderate Buy" and an average target price of $144.15.

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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