Ollie's Bargain Outlet (NASDAQ:OLLI) Shares Down 6.8% - What's Next?

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report)'s share price dropped 6.8% during trading on Friday . The company traded as low as $103.99 and last traded at $106.48. Approximately 509,746 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 1,160,162 shares. The stock had previously closed at $114.30.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Ollie's Bargain Outlet from $135.00 to $137.00 and gave the company an "overweight" rating in a research report on Monday. Piper Sandler decreased their price objective on shares of Ollie's Bargain Outlet from $126.00 to $124.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. UBS Group boosted their target price on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Wall Street Zen upgraded Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, KeyCorp boosted their price objective on Ollie's Bargain Outlet from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $124.07.

Ollie's Bargain Outlet Trading Down 4.3%

The stock's fifty day moving average is $110.79 and its two-hundred day moving average is $106.74. The firm has a market cap of $6.72 billion, a P/E ratio of 32.65, a price-to-earnings-growth ratio of 2.21 and a beta of 0.45.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The business had revenue of $667.10 million for the quarter, compared to analysts' expectations of $674.61 million. During the same quarter in the previous year, the company earned $1.23 earnings per share. The business's quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Activity at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, SVP Kevin Mclain sold 4,799 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $115.56, for a total value of $554,572.44. Following the transaction, the senior vice president now directly owns 12,336 shares of the company's stock, valued at approximately $1,425,548.16. This trade represents a 28.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert F. Helm sold 2,145 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $108.50, for a total value of $232,732.50. Following the completion of the transaction, the chief financial officer now owns 3,888 shares in the company, valued at $421,848. The trade was a 35.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,897 shares of company stock valued at $4,227,970. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Ollie's Bargain Outlet

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Ollie's Bargain Outlet by 489.7% in 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 lifted its stake in Ollie's Bargain Outlet by 337.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company's stock worth $26,000 after purchasing an additional 182 shares in the last quarter. Bogart Wealth LLC acquired a new position in Ollie's Bargain Outlet in the fourth quarter valued at approximately $26,000. HM Payson & Co. purchased a new position in Ollie's Bargain Outlet during the first quarter worth about $30,000. Finally, Blue Trust Inc. lifted its holdings in shares of Ollie's Bargain Outlet by 55.2% in the 4th quarter. Blue Trust Inc. now owns 284 shares of the company's stock worth $31,000 after acquiring an additional 101 shares during 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.

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