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

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OLLI shares. Wall Street Zen raised Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Morgan Stanley lifted their price objective on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. KeyCorp set a $145.00 price objective on Ollie's Bargain Outlet and gave the company an "overweight" rating in a research report on Thursday. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $133.00 price objective on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $123.00 price objective (down from $124.00) on shares of Ollie's Bargain Outlet in a research report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $125.21.

Ollie's Bargain Outlet Trading Up 1.5%

The firm has a 50 day moving average of $114.24 and a 200-day moving average of $110.37. The company has a market cap of $8.19 billion, a P/E ratio of 41.06, a P/E/G ratio of 2.96 and a beta of 0.37.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. Ollie's Bargain Outlet had a return on equity of 12.27% and a net margin of 8.59%. The company had revenue of $576.77 million for the quarter, compared to the consensus estimate of $565.04 million. During the same quarter last year, the company earned $0.73 EPS. The firm's quarterly revenue was up 13.4% on a year-over-year basis. Equities analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Der Valk Eric Van sold 728 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $112.85, for a total value of $82,154.80. Following the completion of the transaction, the chief executive officer now owns 7,761 shares in the company, valued at approximately $875,828.85. The trade was a 8.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James J. Comitale sold 5,485 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $113.53, for a total value of $622,712.05. Following the completion of the transaction, the senior vice president now owns 4,621 shares of the company's stock, valued at approximately $524,622.13. This trade represents a 54.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,704 shares of company stock valued at $2,697,933 in the last quarter. 0.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ollie's Bargain Outlet

A number of large investors have recently bought and sold shares of OLLI. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Ollie's Bargain Outlet by 173.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock valued at $509,671,000 after acquiring an additional 2,948,393 shares during the period. Norges Bank purchased a new position in Ollie's Bargain Outlet during the 4th quarter valued at $80,741,000. Wellington Management Group LLP boosted its holdings in Ollie's Bargain Outlet by 268.0% during the 1st quarter. Wellington Management Group LLP now owns 844,799 shares of the company's stock valued at $98,301,000 after acquiring an additional 615,257 shares during the period. Ameriprise Financial Inc. boosted its holdings in Ollie's Bargain Outlet by 130.3% during the 1st quarter. Ameriprise Financial Inc. now owns 828,743 shares of the company's stock valued at $96,428,000 after acquiring an additional 468,944 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Ollie's Bargain Outlet during the 4th quarter valued at $48,633,000.

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.