Ollie's Bargain Outlet (NASDAQ:OLLI) Reaches New 52-Week High - Here's Why

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $116.18 and last traded at $115.46, with a volume of 443516 shares trading hands. The stock had previously closed at $112.77.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OLLI shares. StockNews.com cut Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price target on shares of Ollie's Bargain Outlet from $109.00 to $121.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Craig Hallum upped their price objective on shares of Ollie's Bargain Outlet from $107.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Wells Fargo & Company boosted their target price on Ollie's Bargain Outlet from $95.00 to $105.00 and gave the company an "equal weight" rating in a report on Wednesday, December 11th. Finally, UBS Group lifted their price target on Ollie's Bargain Outlet from $97.00 to $99.00 and gave the stock a "neutral" rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Ollie's Bargain Outlet currently has an average rating of "Moderate Buy" and an average price target of $116.58.

Ollie's Bargain Outlet Price Performance

The firm has a market capitalization of $7.01 billion, a PE ratio of 34.03, a P/E/G ratio of 2.79 and a beta of 0.85. The company has a 50-day moving average price of $96.26 and a 200-day moving average price of $95.41.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The business had revenue of $517.43 million during the quarter, compared to analyst estimates of $518.83 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The company's revenue was up 7.8% on a year-over-year basis. On average, research analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Transactions at Ollie's Bargain Outlet

In other news, SVP James J. Comitale sold 5,325 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $113.95, for a total transaction of $606,783.75. Following the sale, the senior vice president now owns 3,140 shares in the company, valued at $357,803. This trade represents a 62.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John W. Swygert sold 54,318 shares of Ollie's Bargain Outlet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $109.44, for a total value of $5,944,561.92. Following the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $5,275,008. The trade was a 52.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,755 shares of company stock worth $8,680,862 in the last ninety days. Insiders own 0.87% of the company's stock.

Institutional Trading of Ollie's Bargain Outlet

A number of hedge funds have recently made changes to their positions in OLLI. State Street Corp grew its position in shares of Ollie's Bargain Outlet by 2.1% in the 3rd quarter. State Street Corp now owns 1,871,047 shares of the company's stock worth $181,866,000 after acquiring an additional 38,203 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Ollie's Bargain Outlet by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company's stock valued at $104,860,000 after buying an additional 9,492 shares during the last quarter. Geneva Capital Management LLC raised its stake in Ollie's Bargain Outlet by 1.3% during the third quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company's stock worth $102,106,000 after acquiring an additional 13,369 shares during the period. American Century Companies Inc. lifted its holdings in Ollie's Bargain Outlet by 5.6% in the second quarter. American Century Companies Inc. now owns 780,064 shares of the company's stock worth $76,579,000 after acquiring an additional 41,605 shares during the last quarter. Finally, Fred Alger Management LLC lifted its holdings in Ollie's Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company's stock worth $75,052,000 after acquiring an additional 83,063 shares during the last quarter.

Ollie's Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.

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