Ollie’s Bargain Outlet (NASDAQ:OLLI) Shares Gap Down on Insider Selling

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s stock price gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $99.87, but opened at $96.35. Ollie’s Bargain Outlet shares last traded at $96.91, with a volume of 743,165 shares trading hands.

Specifically, CEO John W. Swygert sold 4,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $102.60, for a total transaction of $492,480.00. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $4,945,320. This trade represents a 9.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Wells Fargo & Company lowered shares of Ollie’s Bargain Outlet from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $100.00 to $95.00 in a research note on Tuesday. StockNews.com lowered shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Finally, Loop Capital reiterated a “buy” rating and issued a $110.00 target price on shares of Ollie’s Bargain Outlet in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and an average price target of $104.50.

Ollie’s Bargain Outlet Price Performance

The company has a market cap of $5.97 billion, a P/E ratio of 29.67, a P/E/G ratio of 2.48 and a beta of 0.85. The company’s 50-day moving average price is $94.85 and its 200-day moving average price is $93.73.

Institutional Trading of Ollie’s Bargain Outlet

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in shares of Ollie’s Bargain Outlet during the 2nd quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in Ollie’s Bargain Outlet in the 2nd quarter worth about $31,000. Crewe Advisors LLC acquired a new stake in Ollie’s Bargain Outlet in the 2nd quarter worth about $36,000. GAMMA Investing LLC raised its stake in Ollie’s Bargain Outlet by 686.7% in the 2nd quarter. GAMMA Investing LLC now owns 472 shares of the company’s stock worth $46,000 after purchasing an additional 412 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. acquired a new stake in Ollie’s Bargain Outlet in the 3rd quarter worth about $117,000.

Ollie’s Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.