Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Short Interest Update

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 3,160,000 shares, a growth of 20.2% from the February 13th total of 2,630,000 shares. Based on an average daily volume of 1,120,000 shares, the short-interest ratio is currently 2.8 days. Approximately 5.2% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OLLI. Craig Hallum increased their price target on shares of Ollie's Bargain Outlet from $107.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Morgan Stanley increased their target price on shares of Ollie's Bargain Outlet from $108.00 to $118.00 and gave the company an "equal weight" rating in a report on Thursday. Royal Bank of Canada increased their target price on shares of Ollie's Bargain Outlet from $130.00 to $133.00 and gave the company an "outperform" rating in a report on Friday, March 7th. StockNews.com cut shares of Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a report on Tuesday, February 4th. Finally, Piper Sandler dropped their target price on shares of Ollie's Bargain Outlet from $126.00 to $124.00 and set an "overweight" rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $123.08.

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Ollie's Bargain Outlet Stock Performance

NASDAQ OLLI traded up $1.66 during mid-day trading on Friday, reaching $106.88. 1,162,656 shares of the stock were exchanged, compared to its average volume of 1,091,846. Ollie's Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $120.03. The business's fifty day simple moving average is $105.16 and its 200 day simple moving average is $101.52. The stock has a market capitalization of $6.55 billion, a PE ratio of 31.90, a PEG ratio of 2.21 and a beta of 0.83.

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 analysts' consensus estimates 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 company had revenue of $667.10 million during the quarter, compared to analyst estimates of $674.61 million. During the same quarter last year, the business earned $1.23 EPS. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts anticipate that Ollie's Bargain Outlet will post 3.29 EPS for the current year.

Hedge Funds Weigh In On Ollie's Bargain Outlet

A number of hedge funds have recently made changes to their positions in OLLI. Royce & Associates LP increased its stake in Ollie's Bargain Outlet by 161.6% during the 3rd quarter. Royce & Associates LP now owns 75,605 shares of the company's stock worth $7,349,000 after buying an additional 46,706 shares during the period. Oak Thistle LLC acquired a new position in shares of Ollie's Bargain Outlet in the 4th quarter valued at about $1,345,000. JPMorgan Chase & Co. boosted its holdings in shares of Ollie's Bargain Outlet by 79.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company's stock valued at $18,400,000 after buying an additional 83,882 shares during the period. Van ECK Associates Corp boosted its holdings in shares of 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 valued at $5,120,000 after buying an additional 12,476 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ollie's Bargain Outlet by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company's stock valued at $73,256,000 after buying an additional 5,438 shares during the period.

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.