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) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 2,870,000 shares, a decrease of 15.3% from the March 15th total of 3,390,000 shares. Currently, 4.7% of the shares of the company are sold short. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is currently 2.5 days.

Insider Buying and Selling at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 1,153 shares of Ollie's Bargain Outlet stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $110.85, for a total value of $127,810.05. Following the sale, the chief executive officer now owns 6,768 shares of the company's stock, valued at approximately $750,232.80. The trade was a 14.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert F. Helm sold 312 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $107.17, for a total transaction of $33,437.04. Following the transaction, the chief financial officer now directly owns 3,273 shares of the company's stock, valued at $350,767.41. This represents a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,897 shares of company stock worth $4,227,970 in the last quarter. 0.87% of the stock is currently owned by company insiders.

Institutional Trading of Ollie's Bargain Outlet

Several institutional investors and hedge funds have recently made changes to their positions in OLLI. Corient Private Wealth LLC increased its stake in Ollie's Bargain Outlet by 86.2% in the fourth quarter. Corient Private Wealth LLC now owns 8,438 shares of the company's stock valued at $926,000 after acquiring an additional 3,906 shares during the last quarter. Next Century Growth Investors LLC boosted its holdings in shares of Ollie's Bargain Outlet by 27.6% in the 4th quarter. Next Century Growth Investors LLC now owns 162,136 shares of the company's stock worth $17,791,000 after purchasing an additional 35,075 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Ollie's Bargain Outlet during the 4th quarter valued at about $1,345,000. JPMorgan Chase & Co. raised its holdings in shares of Ollie's Bargain Outlet by 130.5% during the 4th quarter. JPMorgan Chase & Co. now owns 436,366 shares of the company's stock valued at $47,882,000 after buying an additional 247,065 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Ollie's Bargain Outlet by 36.5% in the 4th quarter. Van ECK Associates Corp now owns 46,659 shares of the company's stock worth $5,120,000 after buying an additional 12,476 shares during the last quarter.

Ollie's Bargain Outlet Stock Performance

Ollie's Bargain Outlet stock traded up $1.87 during midday trading on Friday, hitting $107.31. 969,182 shares of the company's stock were exchanged, compared to its average volume of 1,146,253. The stock has a 50-day moving average price of $106.98 and a two-hundred day moving average price of $104.28. Ollie's Bargain Outlet has a 52-week low of $70.17 and a 52-week high of $120.03. The company has a market cap of $6.57 billion, a P/E ratio of 32.03, a PEG ratio of 2.21 and a beta of 0.75.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.15% and a net margin of 9.22%. The company had revenue of $667.10 million during the quarter, compared to the consensus estimate of $674.61 million. During the same quarter last year, the company posted $1.23 earnings per share. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Ollie's Bargain Outlet will post 3.29 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OLLI shares. StockNews.com downgraded Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research note on Tuesday, February 4th. Piper Sandler lowered 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 research report on Thursday, March 20th. Jefferies Financial Group downgraded shares of 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. UBS Group boosted their target price on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Finally, Royal Bank of Canada raised their price target on Ollie's Bargain Outlet from $130.00 to $133.00 and gave the stock an "outperform" rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $123.08.

About Ollie's Bargain Outlet

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.