Ollie’s Bargain Outlet (NASDAQ:OLLI) Trading Down 4.9% – Here’s Why

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s share price fell 4.9% on Monday . The company traded as low as $111.60 and last traded at $111.81. 637,619 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 1,052,116 shares. The stock had previously closed at $117.60.

Analyst Ratings Changes

OLLI has been the subject of several recent research reports. Truist Financial upped their price objective on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company raised their target price on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Bank of America raised their target price on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 price objective on shares of Ollie’s Bargain Outlet in a report on Monday, December 23rd. Finally, Piper Sandler raised their price objective on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.62.

Ollie’s Bargain Outlet Stock Performance

The stock has a market capitalization of $6.82 billion, a P/E ratio of 33.20, a P/E/G ratio of 2.79 and a beta of 0.85. The company’s 50-day moving average price is $100.74 and its 200 day moving average price is $97.74.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. Ollie’s Bargain Outlet’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 earnings per share. Analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Insider Activity

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 4,032 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $102.51, for a total transaction of $413,320.32. Following the transaction, the chief executive officer now owns 48,200 shares in the company, valued at approximately $4,940,982. This represents a 7.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert F. Helm sold 2,401 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total value of $227,326.68. Following the sale, the chief financial officer now owns 2,021 shares of the company’s stock, valued at approximately $191,348.28. This trade represents a 54.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,172 shares of company stock worth $9,878,158. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several hedge funds and other institutional investors have recently made changes to their positions in 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. GAMMA Investing LLC increased its holdings in Ollie’s Bargain Outlet by 37.9% during the 3rd quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock worth $63,000 after purchasing an additional 179 shares during the period. Northwest & Ethical Investments L.P. acquired a new stake in Ollie’s Bargain Outlet in the third quarter valued at approximately $117,000. LRI Investments LLC grew its stake in shares of Ollie’s Bargain Outlet by 2,356.1% during the third quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock worth $130,000 after purchasing an additional 1,343 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ollie’s Bargain Outlet during the 3rd quarter worth about $151,000.

About Ollie’s Bargain Outlet

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.