Ollie’s Bargain Outlet (NASDAQ:OLLI) Shares Gap Up – What’s Next?

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $97.00, but opened at $100.96. Ollie’s Bargain Outlet shares last traded at $101.71, with a volume of 196,382 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OLLI. Piper Sandler upped their price target on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Craig Hallum raised 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 report on Wednesday, December 11th. StockNews.com cut shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of 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, Bank of America increased their target price on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.62.

Ollie’s Bargain Outlet Price Performance

The company has a market cap of $6.55 billion, a PE ratio of 31.90, a PEG ratio of 2.63 and a beta of 0.82. The stock has a 50 day simple moving average of $104.39 and a two-hundred day simple moving average of $98.66.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $517.43 million during 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%. Ollie’s Bargain Outlet’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, equities analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Activity 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 dated Wednesday, December 11th. The shares were sold at an average price of $113.95, for a total value of $606,783.75. Following the sale, the senior vice president now owns 3,140 shares of the company’s stock, valued at $357,803. The trade was a 62.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John W. Swygert sold 4,032 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $102.51, for a total transaction of $413,320.32. Following the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $4,940,982. This represents a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,771 shares of company stock worth $9,650,832 in the last quarter. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. lifted its position in shares of Ollie’s Bargain Outlet by 25.3% during the 4th quarter. UMB Bank n.a. now owns 545 shares of the company’s stock valued at $60,000 after acquiring an additional 110 shares during the period. GAMMA Investing LLC raised its holdings in Ollie’s Bargain Outlet by 37.9% during the third quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock worth $63,000 after purchasing an additional 179 shares during the last quarter. Park Place Capital Corp purchased a new stake in Ollie’s Bargain Outlet during the fourth quarter worth $77,000. Eagle Bay Advisors LLC acquired a new stake in Ollie’s Bargain Outlet in the fourth quarter valued at $79,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of Ollie’s Bargain Outlet in the third quarter valued at $117,000.

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.