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

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s share 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 company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $102.60, for a total value of $492,480.00. Following the completion of the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $4,945,320. This represents a 9.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

OLLI has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Bank of America upped their price objective on shares of Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Wells Fargo & Company cut shares of Ollie’s Bargain Outlet from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $100.00 to $95.00 in a research report on Tuesday. StockNews.com cut shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $107.00 price target on shares of Ollie’s Bargain Outlet in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Ollie’s Bargain Outlet has an average rating of “Moderate Buy” and an average target price of $104.50.

Ollie’s Bargain Outlet Stock Down 2.6 %

The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 2.48 and a beta of 0.85. The firm’s 50 day moving average is $94.85 and its two-hundred day moving average is $93.73.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several large investors have recently made changes to their positions in OLLI. International Assets Investment Management LLC bought a new position in shares of Ollie’s Bargain Outlet in the second quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new position in shares of Ollie’s Bargain Outlet in the second quarter valued at approximately $31,000. Crewe Advisors LLC bought a new position in shares of Ollie’s Bargain Outlet in the second quarter valued at approximately $36,000. GAMMA Investing LLC boosted its holdings in shares of Ollie’s Bargain Outlet by 686.7% in the second quarter. GAMMA Investing LLC now owns 472 shares of the company’s stock valued at $46,000 after acquiring an additional 412 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. bought a new position in shares of Ollie’s Bargain Outlet in the third quarter valued at approximately $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.