Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Short Interest Down 15.3% in March

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 2,870,000 shares, a drop of 15.3% from the March 15th total of 3,390,000 shares. Approximately 4.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,160,000 shares, the short-interest ratio is currently 2.5 days.

Ollie's Bargain Outlet Trading Up 1.8 %

OLLI stock traded up $1.87 during midday trading on Friday, hitting $107.31. The company had a trading volume of 969,159 shares, compared to its average volume of 1,144,990. Ollie's Bargain Outlet has a 52 week low of $70.17 and a 52 week high of $120.03. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.21 and a beta of 0.75. The stock's 50 day moving average price is $107.02 and its 200 day moving average price is $104.19.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm had revenue of $667.10 million for the quarter, compared to analysts' expectations of $674.61 million. During the same period in the previous year, the company earned $1.23 EPS. The company's quarterly revenue was up 2.8% on a year-over-year basis. Analysts predict that Ollie's Bargain Outlet will post 3.29 earnings per share for the current year.

Wall Street Analyst Weigh In

OLLI has been the topic of a number of research analyst reports. Royal Bank of Canada upped their target price on Ollie's Bargain Outlet from $130.00 to $133.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. Jefferies Financial Group lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and dropped their target price for the company from $125.00 to $111.00 in a research report on Tuesday, February 4th. Piper Sandler decreased their price target on shares of Ollie's Bargain Outlet from $126.00 to $124.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. Morgan Stanley lifted their price objective on shares of Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Finally, StockNews.com cut Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.08.

Insider Buying and Selling

In other news, SVP Kevin Mclain sold 4,799 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $115.56, for a total value of $554,572.44. Following the completion of the transaction, the senior vice president now directly owns 12,336 shares in the company, valued at approximately $1,425,548.16. This trade represents a 28.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert F. Helm sold 312 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $107.17, for a total transaction of $33,437.04. Following the sale, the chief financial officer now directly owns 3,273 shares in the company, valued at $350,767.41. This trade represents a 8.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,897 shares of company stock valued at $4,227,970. Company insiders own 0.87% of the company's stock.

Institutional Investors Weigh In On Ollie's Bargain Outlet

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Ollie's Bargain Outlet by 489.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock worth $25,000 after acquiring an additional 191 shares during the period. Wilmington Savings Fund Society FSB lifted its position in shares of Ollie's Bargain Outlet by 337.0% in the 4th 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 shares of Ollie's Bargain Outlet during the 4th quarter valued at about $26,000. Blue Trust Inc. increased its position in shares of Ollie's Bargain Outlet by 55.2% during the fourth quarter. Blue Trust Inc. now owns 284 shares of the company's stock valued at $31,000 after buying an additional 101 shares during the period. Finally, City Holding Co. bought a new position in Ollie's Bargain Outlet in the first quarter worth about $31,000.

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.