Ollie's Bargain Outlet (NASDAQ:OLLI) Trading 4.2% Higher - What's Next?

Shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report) shot up 4.2% during mid-day trading on Monday . The stock traded as high as $127.75 and last traded at $126.94. 847,493 shares were traded during trading, a decline of 27% from the average session volume of 1,160,516 shares. The stock had previously closed at $121.82.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on OLLI shares. KeyCorp reiterated an "overweight" rating and set a $135.00 price objective on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Morgan Stanley increased their price objective on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $133.00 target price on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Piper Sandler reissued an "overweight" rating and issued a $123.00 price target (down previously from $124.00) on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Ollie's Bargain Outlet from $135.00 to $137.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $124.50.

Ollie's Bargain Outlet Trading Up 5.5%

The company has a market cap of $7.88 billion, a price-to-earnings ratio of 39.54, a P/E/G ratio of 2.74 and a beta of 0.37. The business has a 50-day moving average price of $112.81 and a 200 day moving average price of $109.65.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. 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 earned $0.73 earnings per share. The business's quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Robert F. Helm sold 312 shares of Ollie's Bargain Outlet stock in a transaction on Monday, April 7th. The stock was sold at an average price of $107.17, for a total transaction of $33,437.04. Following the completion of the sale, the chief financial officer now owns 3,273 shares of the company's stock, valued at approximately $350,767.41. This trade represents a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John W. Swygert sold 6,526 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $107.87, for a total value of $703,959.62. Following the sale, the chairman now directly owns 53,432 shares of the company's stock, valued at $5,763,709.84. This trade represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,230 shares of company stock valued at $3,401,892. Corporate insiders own 0.87% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake 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 purchasing an additional 191 shares during the last quarter. HM Payson & Co. bought a new position in Ollie's Bargain Outlet during the first quarter valued at about $30,000. Blue Trust Inc. lifted its position in shares of Ollie's Bargain Outlet by 55.2% in the fourth quarter. Blue Trust Inc. now owns 284 shares of the company's stock worth $31,000 after buying an additional 101 shares during the last quarter. City Holding Co. bought a new stake in shares of Ollie's Bargain Outlet during the 1st quarter worth about $31,000. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Ollie's Bargain Outlet during the 4th quarter valued at about $33,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.