Ollie's Bargain Outlet (NASDAQ:OLLI) Shares Gap Down - Should You Sell?

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $111.92, but opened at $106.78. Ollie's Bargain Outlet shares last traded at $110.08, with a volume of 639,056 shares changing hands.

Analyst Ratings Changes

Several brokerages recently issued reports on OLLI. JPMorgan Chase & Co. raised their target price on shares of Ollie's Bargain Outlet from $135.00 to $137.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. UBS Group increased their price target on Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Jefferies Financial Group downgraded Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and dropped their price target for the stock from $125.00 to $111.00 in a research note on Tuesday, February 4th. Royal Bank of Canada reiterated an "outperform" rating and set a $133.00 price objective on shares of Ollie's Bargain Outlet in a research report on Wednesday. Finally, Piper Sandler reissued an "overweight" rating and issued a $123.00 target price (down from $124.00) on shares of Ollie's Bargain Outlet in a research report on Wednesday. Five equities 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, Ollie's Bargain Outlet has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Ollie's Bargain Outlet Stock Up 4.1%

The stock 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. 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 (NASDAQ:OLLI - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $565.04 million. During the same period in the prior year, the firm posted $0.73 EPS. The firm's quarterly revenue was up 13.4% compared to the same quarter last year. Equities analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Transactions at Ollie's Bargain Outlet

In related news, CFO Robert F. Helm sold 312 shares of the company's stock in a transaction 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 owns 3,273 shares of the company's stock, valued at approximately $350,767.41. This represents a 8.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Fisch sold 6,250 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $108.08, for a total value of $675,500.00. Following the sale, the director now directly owns 22,159 shares in the company, valued at approximately $2,394,944.72. This represents a 22.00% 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 three months. Corporate insiders own 0.75% of the company's stock.

Institutional Investors Weigh In On Ollie's Bargain Outlet

Institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in 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 during the period. Wilmington Savings Fund Society FSB raised its stake in shares of Ollie's Bargain Outlet by 337.0% in 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 period. Bogart Wealth LLC purchased a new stake in shares of Ollie's Bargain Outlet in the fourth quarter valued at $26,000. HM Payson & Co. bought a new stake in shares of Ollie's Bargain Outlet in the 1st quarter worth about $30,000. Finally, City Holding Co. purchased a new position in shares of Ollie's Bargain Outlet during the 1st quarter worth about $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.