Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Sees Significant Drop in Short Interest

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

Insider Buying and Selling at Ollie's Bargain Outlet

In other news, SVP Larry Kraus sold 10,646 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $115.58, for a total transaction of $1,230,464.68. Following the completion of the sale, the senior vice president now owns 1,905 shares in the company, valued at approximately $220,179.90. This represents a 84.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John W. Swygert sold 4,032 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $102.51, for a total value of $413,320.32. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares of the company's stock, valued at $4,940,982. The trade was a 7.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,771 shares of company stock worth $9,650,832 over the last quarter. Insiders own 0.87% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Ollie's Bargain Outlet by 173.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock valued at $509,671,000 after purchasing an additional 2,948,393 shares in the last quarter. Congress Asset Management Co. boosted its stake in Ollie's Bargain Outlet by 181.6% during the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company's stock worth $210,307,000 after purchasing an additional 1,235,994 shares during the period. Norges Bank acquired a new position in Ollie's Bargain Outlet in the fourth quarter valued at $80,741,000. Stephens Investment Management Group LLC acquired a new stake in Ollie's Bargain Outlet during the 4th quarter worth approximately $78,356,000. Finally, Holocene Advisors LP raised its stake in shares of Ollie's Bargain Outlet by 10,159.3% during the third quarter. Holocene Advisors LP now owns 471,413 shares of the company's stock worth $45,821,000 after purchasing an additional 466,818 shares during the last quarter.

Ollie's Bargain Outlet Stock Down 2.7 %

Shares of OLLI traded down $2.90 during trading on Wednesday, reaching $106.38. 620,580 shares of the company traded hands, compared to its average volume of 934,643. The stock has a 50-day simple moving average of $109.53 and a 200-day simple moving average of $100.21. Ollie's Bargain Outlet has a twelve month low of $68.05 and a twelve month high of $120.03. The stock has a market cap of $6.52 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly 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 for the quarter, compared to analysts' expectations of $518.83 million. Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The business's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, equities research analysts predict that Ollie's Bargain Outlet will post 3.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OLLI. Loop Capital raised their price target on shares of Ollie's Bargain Outlet from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Monday, December 23rd. Craig Hallum boosted their target price on shares of Ollie's Bargain Outlet from $107.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Bank of America upped their target price on Ollie's Bargain Outlet from $115.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Citigroup raised shares of Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and increased their price target for the stock from $64.00 to $133.00 in a report on Wednesday, December 18th. Finally, Jefferies Financial Group lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and cut their price target for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $118.07.

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.