Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Rating Lowered by Wells Fargo & Company

Ollie’s Bargain Outlet (NASDAQ:OLLI) was downgraded by research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Tuesday, MarketBeat Ratings reports. They currently have a $95.00 target price on the stock, down from their prior target price of $100.00. Wells Fargo & Company‘s price target would indicate a potential downside of 5.29% from the stock’s current price.

A number of other equities research analysts also recently issued reports on OLLI. Royal Bank of Canada lifted their price target 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. Loop Capital reaffirmed a “buy” rating and set a $110.00 price objective on shares of Ollie’s Bargain Outlet in a report on Friday, September 20th. Piper Sandler reissued an “overweight” rating and issued a $107.00 target price on shares of Ollie’s Bargain Outlet in a report on Friday, October 4th. StockNews.com cut Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Finally, 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 on the stock in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.50.

Ollie’s Bargain Outlet Stock Up 3.1 %

Shares of OLLI opened at $100.31 on Tuesday. Ollie’s Bargain Outlet has a 52-week low of $68.05 and a 52-week high of $104.98. The company has a 50-day simple moving average of $94.84 and a 200-day simple moving average of $93.78. The company has a market capitalization of $6.15 billion, a PE ratio of 30.58, a P/E/G ratio of 2.48 and a beta of 0.85.

Insider Transactions at Ollie’s Bargain Outlet

In other news, President Der Valk Eric Van sold 7,479 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the sale, the president now owns 5,615 shares in the company, valued at $563,296.80. This trade represents a 57.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John W. Swygert sold 4,800 shares of the company’s stock in a transaction on 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 owns 48,200 shares of the company’s stock, valued at $4,945,320. The trade was a 9.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,712 shares of company stock worth $3,368,270 over the last ninety days. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OLLI. Sanctuary Advisors LLC grew its stake in shares of Ollie’s Bargain Outlet by 464.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,135 shares of the company’s stock valued at $1,621,000 after buying an additional 14,101 shares during the period. Virtu Financial LLC purchased a new position in shares of Ollie’s Bargain Outlet in the 3rd quarter worth about $969,000. Geode Capital Management LLC grew its holdings in shares of Ollie’s Bargain Outlet by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock worth $104,860,000 after purchasing an additional 9,492 shares during the period. Bullseye Asset Management LLC increased its position in Ollie’s Bargain Outlet by 1.8% during the 3rd quarter. Bullseye Asset Management LLC now owns 55,274 shares of the company’s stock worth $5,373,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Barclays PLC raised its holdings in Ollie’s Bargain Outlet by 59.2% in the third quarter. Barclays PLC now owns 41,307 shares of the company’s stock valued at $4,014,000 after buying an additional 15,357 shares during the period.

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.