Short Interest in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Drops By 17.3%

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 2,440,000 shares, a decrease of 17.3% from the January 15th total of 2,950,000 shares. Currently, 4.0% of the shares of the stock are short sold. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on OLLI shares. JPMorgan Chase & Co. upped their price target on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Piper Sandler boosted their price objective on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Jefferies Financial Group downgraded Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and cut their price objective for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. Craig Hallum boosted their price objective on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Citigroup upgraded Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $64.00 to $133.00 in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $118.07.

Ollie’s Bargain Outlet Stock Performance

NASDAQ:OLLI opened at $108.35 on Monday. The stock’s 50 day moving average price is $109.50 and its 200 day moving average price is $100.01. Ollie’s Bargain Outlet has a 52 week low of $68.05 and a 52 week high of $120.03. The company has a market capitalization of $6.64 billion, a P/E ratio of 32.34, a P/E/G ratio of 2.33 and a beta of 0.81.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm had revenue of $517.43 million for the quarter, compared to the consensus estimate of $518.83 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 54,318 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $109.44, for a total value of $5,944,561.92. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at approximately $5,275,008. This represents a 52.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Hendrickson sold 6,250 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $114.74, for a total transaction of $717,125.00. The disclosure for this sale can be found here. Insiders sold 87,771 shares of company stock valued at $9,650,832 over the last 90 days. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Ollie’s Bargain Outlet by 489.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock worth $25,000 after purchasing an additional 191 shares during the period. Wilmington Savings Fund Society FSB boosted its position in Ollie’s Bargain Outlet by 337.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock worth $26,000 after purchasing an additional 182 shares during the period. Bogart Wealth LLC bought a new stake in Ollie’s Bargain Outlet during the fourth quarter worth approximately $26,000. Blue Trust Inc. boosted its position in shares of Ollie’s Bargain Outlet by 55.2% in the fourth quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after acquiring an additional 101 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Ollie’s Bargain Outlet in the fourth quarter valued at approximately $33,000.

Ollie’s Bargain Outlet Company Profile

Ollie’s Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company’s products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.