Ollie’s Bargain Outlet (NASDAQ:OLLI) Reaches New 12-Month High Following Better-Than-Expected Earnings

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) shares reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $111.86 and last traded at $111.40, with a volume of 482069 shares traded. The stock had previously closed at $98.05.

The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Loop Capital reiterated a “buy” rating and set a $110.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Friday, September 20th. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and increased their target price for the company from $105.00 to $107.00 in a research note on Monday, August 26th. UBS Group increased their target price on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Piper Sandler reaffirmed an “overweight” rating and set a $107.00 price target on shares of Ollie’s Bargain Outlet in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. dropped their target price on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.50.

Insider Activity at Ollie’s Bargain Outlet

In related news, President Der Valk Eric Van sold 7,479 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the completion of the sale, the president now directly owns 5,615 shares of the company’s stock, valued at approximately $563,296.80. This trade represents a 57.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin Mclain sold 15,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $98.99, for a total value of $1,484,850.00. Following the transaction, the senior vice president now directly owns 10,610 shares of the company’s stock, valued at approximately $1,050,283.90. This trade represents a 58.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,712 shares of company stock worth $3,368,270 in the last 90 days. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Several hedge funds have recently made changes to their positions in OLLI. Sanctuary Advisors LLC grew its position in Ollie’s Bargain Outlet by 464.8% during the third quarter. Sanctuary Advisors LLC now owns 17,135 shares of the company’s stock worth $1,621,000 after buying an additional 14,101 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Ollie’s Bargain Outlet in the 3rd quarter worth about $969,000. Geode Capital Management LLC boosted 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 worth $104,860,000 after purchasing an additional 9,492 shares in the last quarter. Bullseye Asset Management LLC boosted its holdings in shares of Ollie’s Bargain Outlet by 1.8% in the 3rd quarter. Bullseye Asset Management LLC now owns 55,274 shares of the company’s stock worth $5,373,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Ollie’s Bargain Outlet by 59.2% in the 3rd quarter. Barclays PLC now owns 41,307 shares of the company’s stock worth $4,014,000 after purchasing an additional 15,357 shares in the last quarter.

Ollie’s Bargain Outlet Trading Up 11.8 %

The business has a fifty day moving average price of $94.99 and a 200-day moving average price of $94.47. The stock has a market capitalization of $6.72 billion, a PE ratio of 33.96, a PEG ratio of 2.53 and a beta of 0.85.

Ollie’s Bargain Outlet Company Profile

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.