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

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Get Free Report) shot up 5.2% during mid-day trading on Thursday . The stock traded as high as $112.79 and last traded at $113.81. 161,578 shares traded 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.

Analysts Set New Price Targets

OLLI has been the subject of several analyst reports. Morgan Stanley increased their price objective on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. StockNews.com lowered Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research note on Tuesday, February 4th. Citigroup upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and lifted their target price for the stock from $64.00 to $133.00 in a research note on Wednesday, December 18th. Loop Capital upped their price target on shares of Ollie's Bargain Outlet from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, December 23rd. Finally, UBS Group lifted their price objective on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Ollie's Bargain Outlet currently has a consensus rating of "Moderate Buy" and an average price target of $123.08.

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Ollie's Bargain Outlet Price Performance

The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 34.73, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. The firm has a fifty day moving average of $105.96 and a 200 day moving average of $102.35.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $667.10 million for the quarter, compared to analysts' expectations of $674.61 million. During the same period last year, the company posted $1.23 earnings per share. The business's quarterly revenue was up 2.8% on a year-over-year basis. Research analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Transactions at Ollie's Bargain Outlet

In other news, CFO Robert F. Helm sold 2,145 shares of Ollie's Bargain Outlet stock in a transaction that occurred 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 directly owns 3,888 shares of the company's stock, valued at $421,848. The trade was a 35.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman John W. Swygert sold 6,526 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $107.87, for a total value of $703,959.62. Following the completion of the transaction, the chairman now owns 53,432 shares in the company, valued at $5,763,709.84. The trade was a 10.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,153 shares of company stock valued at $2,200,844 in the last three months. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ollie's Bargain Outlet

A number of hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Ollie's Bargain Outlet by 489.7% in 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 boosted its stake 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 worth $26,000 after buying an additional 182 shares during the last quarter. Bogart Wealth LLC acquired a new stake in shares of Ollie's Bargain Outlet in the 4th quarter worth $26,000. Blue Trust Inc. raised its holdings in shares of Ollie's Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company's stock worth $31,000 after acquiring an additional 101 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Ollie's Bargain Outlet during the 4th quarter valued at about $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.