Insider Selling: Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Chairman Sells $703,959.62 in Stock

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Chairman John W. Swygert sold 6,526 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was 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 directly owns 53,432 shares in the company, valued at approximately $5,763,709.84. This represents a 10.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Ollie’s Bargain Outlet Price Performance

NASDAQ:OLLI opened at $113.24 on Monday. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $68.05 and a 1 year high of $120.03. The stock’s 50 day simple moving average is $105.96 and its two-hundred day simple moving average is $102.35.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released 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 net margin of 9.22% and a return on equity of 13.15%. The business had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $674.61 million. During the same period in the previous year, the company earned $1.23 EPS. Ollie’s Bargain Outlet’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Wall Street Analysts Forecast Growth

OLLI has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Morgan Stanley upped their price target on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Truist Financial raised their price objective on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company 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 stock an “outperform” rating in a report on Friday, March 7th. Finally, UBS Group raised their price target on Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.08.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC increased its stake in Ollie’s Bargain Outlet by 173.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock worth $509,671,000 after acquiring an additional 2,948,393 shares during the last quarter. Congress Asset Management Co. boosted its holdings in shares of Ollie’s Bargain Outlet by 181.6% in the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock worth $210,307,000 after purchasing an additional 1,235,994 shares during the period. Norges Bank bought a new position in shares of Ollie’s Bargain Outlet during the 4th quarter valued at approximately $80,741,000. Stephens Investment Management Group LLC purchased a new stake in Ollie’s Bargain Outlet during the 4th quarter valued at $78,356,000. Finally, Holocene Advisors LP lifted its position in Ollie’s Bargain Outlet by 10,159.3% in the third quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock worth $45,821,000 after buying an additional 466,818 shares during the last quarter.

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.