Short Interest in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Drops By 17.3%

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 2,440,000 shares, a decline of 17.3% from the January 15th total of 2,950,000 shares. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 4.0% of the shares of the stock are sold short.

Ollie’s Bargain Outlet Stock Performance

Shares of Ollie’s Bargain Outlet stock opened at $108.35 on Friday. Ollie’s Bargain Outlet has a 52 week low of $68.05 and a 52 week high of $120.03. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.33 and a beta of 0.81. The firm has a fifty day moving average of $109.50 and a two-hundred day moving average of $99.99.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $517.43 million during the quarter, compared to the consensus estimate of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. As a group, research analysts forecast that Ollie’s Bargain Outlet will post 3.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Loop Capital lifted their price objective on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Craig Hallum increased their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Citigroup raised Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and lifted their price target for the company from $64.00 to $133.00 in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.07.

Insider Buying and Selling at Ollie’s Bargain Outlet

In related news, CEO John W. Swygert sold 54,318 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $109.44, for a total value of $5,944,561.92. Following the sale, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $5,275,008. The trade was a 52.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James J. Comitale sold 5,325 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total value of $606,783.75. Following the transaction, the senior vice president now owns 3,140 shares of the company’s stock, valued at $357,803. This represents a 62.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,771 shares of company stock valued at $9,650,832. 0.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several large investors have recently bought and sold shares of OLLI. Vanguard Group Inc. grew its holdings in shares of Ollie’s Bargain Outlet by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company’s stock valued at $638,843,000 after buying an additional 70,496 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in Ollie’s Bargain Outlet by 173.8% in the fourth 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. Congress Asset Management Co. increased its holdings in shares of Ollie’s Bargain Outlet by 181.6% in the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock worth $210,307,000 after acquiring an additional 1,235,994 shares in the last quarter. State Street Corp raised its position in shares of Ollie’s Bargain Outlet by 2.1% during the third quarter. State Street Corp now owns 1,871,047 shares of the company’s stock worth $181,866,000 after purchasing an additional 38,203 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Ollie’s Bargain Outlet by 1.1% during the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company’s stock valued at $180,558,000 after purchasing an additional 17,302 shares in the last quarter.

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.