Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Short Interest Down 18.8% in December

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 3,100,000 shares, a decline of 18.8% from the December 15th total of 3,820,000 shares. Based on an average trading volume of 1,130,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 5.1% of the shares of the company are sold short.

Insider Activity

In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 5,325 shares of the stock in a transaction 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 directly owns 3,140 shares of the company’s stock, valued at approximately $357,803. This represents a 62.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Swygert sold 54,318 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $109.44, for a total transaction of $5,944,561.92. Following the sale, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at approximately $5,275,008. This represents a 52.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,771 shares of company stock worth $9,650,832. 0.87% of the stock is currently owned by insiders.

Institutional Trading of Ollie’s Bargain Outlet

Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Ollie’s Bargain Outlet by 2.1% during the third quarter. State Street Corp now owns 1,871,047 shares of the company’s stock valued at $181,866,000 after buying an additional 38,203 shares during the period. Geode Capital Management LLC increased its holdings in shares of Ollie’s Bargain Outlet by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock valued at $104,860,000 after purchasing an additional 9,492 shares during the period. Geneva Capital Management LLC lifted its position in shares of Ollie’s Bargain Outlet by 1.3% in the third quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company’s stock worth $102,106,000 after purchasing an additional 13,369 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of Ollie’s Bargain Outlet by 12.1% during the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after purchasing an additional 83,063 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in 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 Stock Performance

Shares of NASDAQ:OLLI opened at $97.00 on Thursday. The company has a market capitalization of $5.94 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 2.63 and a beta of 0.82. The stock has a fifty day moving average of $104.13 and a 200-day moving average of $98.56. Ollie’s Bargain Outlet has a one year low of $68.05 and a one year high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $517.43 million during the quarter, compared to the consensus estimate of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. Ollie’s Bargain Outlet’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. As a group, research analysts forecast that Ollie’s Bargain Outlet will post 3.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on OLLI shares. StockNews.com downgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Wednesday. Piper Sandler boosted their price objective on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Loop Capital raised their target price on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. increased their price target on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Citigroup upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and lifted their price objective for the company from $64.00 to $133.00 in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.62.

About Ollie’s Bargain Outlet

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.