Ollie's Bargain Outlet (NASDAQ:OLLI) Shares Up 5.2% - Here's Why

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report)'s stock price traded up 5.2% during trading on Thursday . The company traded as high as $112.79 and last traded at $113.81. Approximately 161,578 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,086,573 shares. The stock had previously closed at $108.17.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OLLI. StockNews.com downgraded Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research note on Tuesday, February 4th. Bank of America lifted their price objective on Ollie's Bargain Outlet from $115.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Royal Bank of Canada upped 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. Piper Sandler decreased their price objective on 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. Finally, Loop Capital raised their target price on shares of Ollie's Bargain Outlet from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Ollie's Bargain Outlet presently has a consensus rating of "Moderate Buy" and an average target price of $123.08.

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Ollie's Bargain Outlet Stock Performance

The business's fifty day simple moving average is $106.16 and its 200 day simple moving average is $102.59. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 35.29, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.01). The company had revenue of $667.10 million for the quarter, compared to the consensus estimate of $674.61 million. Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company's revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 earnings per share. As a group, analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Robert F. Helm sold 2,145 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $108.50, for a total value of $232,732.50. Following the sale, the chief financial officer now owns 3,888 shares of the company's stock, valued at approximately $421,848. The trade was a 35.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John W. Swygert sold 6,526 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $107.87, for a total transaction of $703,959.62. Following the completion of the sale, the chairman now directly owns 53,432 shares of the company's stock, valued at $5,763,709.84. The trade was a 10.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,153 shares of company stock valued at $2,200,844. Insiders own 0.87% of the company's stock.

Institutional Investors Weigh In On Ollie's Bargain Outlet

Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ollie's Bargain Outlet by 489.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock worth $25,000 after purchasing an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in Ollie's Bargain Outlet by 337.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company's stock valued at $26,000 after buying an additional 182 shares during the period. Bogart Wealth LLC acquired a new stake in Ollie's Bargain Outlet during the 4th quarter worth about $26,000. Blue Trust Inc. grew its stake in Ollie's Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company's stock valued at $31,000 after acquiring an additional 101 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Ollie's Bargain Outlet in the fourth quarter worth approximately $33,000.

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.