Stock Traders Buy High Volume of Call Options on Ollie’s Bargain Outlet (NASDAQ:OLLI)

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the target of unusually large options trading on Wednesday. Stock investors purchased 3,279 call options on the stock. This is an increase of approximately 148% compared to the average daily volume of 1,323 call options.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ:OLLI opened at $111.19 on Friday. The business has a fifty day moving average price of $95.95 and a 200-day moving average price of $94.95. The company has a market capitalization of $6.82 billion, a PE ratio of 33.19, a PEG ratio of 2.53 and a beta of 0.85. Ollie’s Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $115.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. On average, sell-side analysts anticipate that Ollie’s Bargain Outlet will post 3.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, President Der Valk Eric Van sold 7,479 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $100.32, for a total value of $750,293.28. Following the transaction, the president now directly owns 5,615 shares of the company’s stock, valued at $563,296.80. The trade was a 57.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin Mclain sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.99, for a total value of $1,484,850.00. Following the completion of the sale, the senior vice president now owns 10,610 shares of the company’s stock, valued at $1,050,283.90. The trade was a 58.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,755 shares of company stock valued at $10,165,712 over the last quarter. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several institutional investors have recently modified their holdings of OLLI. State Street Corp raised its stake in Ollie’s Bargain Outlet by 2.1% during the 3rd quarter. State Street Corp now owns 1,871,047 shares of the company’s stock valued at $181,866,000 after buying an additional 38,203 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Ollie’s Bargain Outlet by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock worth $104,860,000 after acquiring an additional 9,492 shares during the period. Geneva Capital Management LLC increased its position in Ollie’s Bargain Outlet by 1.3% during the third quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company’s stock valued at $102,106,000 after acquiring an additional 13,369 shares during the last quarter. American Century Companies Inc. lifted its holdings in Ollie’s Bargain Outlet by 5.6% in the second quarter. American Century Companies Inc. now owns 780,064 shares of the company’s stock valued at $76,579,000 after acquiring an additional 41,605 shares during the period. Finally, Fred Alger Management LLC boosted its position in Ollie’s Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after purchasing an additional 83,063 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OLLI shares. Piper Sandler raised their target price on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America boosted 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. Truist Financial boosted their price objective on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com downgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price objective on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and an average target price of $116.58.

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.