Insider Selling: Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Chairman Sells 6,526 Shares of Stock

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Chairman John W. Swygert sold 6,526 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $107.87, for a total transaction of $703,959.62. Following the transaction, the chairman now directly owns 53,432 shares in the company, valued at approximately $5,763,709.84. This represents a 10.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ:OLLI traded up $0.17 during midday trading on Friday, reaching $113.24. The company had a trading volume of 923,401 shares, compared to its average volume of 1,105,487. The stock has a market capitalization of $6.94 billion, a P/E ratio of 33.80, a PEG ratio of 2.21 and a beta of 0.83. The stock’s fifty day moving average price is $105.83 and its 200-day moving average price is $102.10. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $68.05 and a one year high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $667.10 million during the quarter, compared to the consensus estimate of $674.61 million. During the same quarter last year, the firm posted $1.23 earnings per share. Ollie’s Bargain Outlet’s revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of 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 buying an additional 2,948,393 shares during the last quarter. Congress Asset Management Co. grew its holdings in shares of Ollie’s Bargain Outlet by 181.6% during the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock valued at $210,307,000 after purchasing an additional 1,235,994 shares during the last quarter. Norges Bank bought a new position in shares of Ollie’s Bargain Outlet during the fourth quarter valued at approximately $80,741,000. Stephens Investment Management Group LLC acquired a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter worth approximately $78,356,000. Finally, Holocene Advisors LP lifted its holdings in shares of Ollie’s Bargain Outlet by 10,159.3% in the 3rd quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock worth $45,821,000 after purchasing an additional 466,818 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OLLI. JPMorgan Chase & Co. increased their target price on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Citigroup raised shares of 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 research report on Wednesday, December 18th. Craig Hallum increased their price objective on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. StockNews.com lowered shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Finally, UBS Group upped their price target on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Ollie’s Bargain Outlet currently has an average rating of “Moderate Buy” and a consensus price target of $123.08.

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.