Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price Down 5.3% on Insider Selling

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLIGet Free Report) was down 5.3% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $84.63 and last traded at $85.09. Approximately 670,510 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 941,215 shares. The stock had previously closed at $89.83.

Specifically, Director Thomas Hendrickson sold 5,000 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $72.29, for a total value of $361,450.00. Following the completion of the transaction, the director now owns 5,659 shares in the company, valued at $409,089.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Thomas Hendrickson sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $72.29, for a total value of $361,450.00. Following the sale, the director now directly owns 5,659 shares in the company, valued at approximately $409,089.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin Mclain sold 11,340 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $85.75, for a total value of $972,405.00. Following the completion of the transaction, the senior vice president now owns 10,610 shares in the company, valued at approximately $909,807.50. The disclosure for this sale can be found here. Insiders sold 33,881 shares of company stock worth $2,674,393 in the last three months. 0.87% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OLLI. Truist Financial raised their price objective on shares of Ollie’s Bargain Outlet from $86.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group upped their price objective on Ollie’s Bargain Outlet from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley boosted their target price on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the company an “equal weight” rating in a report on Thursday. Wells Fargo & Company boosted their price objective on shares of Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Loop Capital lifted their target price on shares of Ollie’s Bargain Outlet from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.67.

Check Out Our Latest Report on Ollie’s Bargain Outlet

Ollie’s Bargain Outlet Trading Down 6.1 %

The stock’s 50-day moving average is $75.46 and its 200-day moving average is $75.22. The stock has a market cap of $5.17 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 2.48 and a beta of 0.82.

Ollie’s Bargain Outlet (NASDAQ:OLLIGet Free Report) last posted its quarterly earnings results on Wednesday, June 5th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. Ollie’s Bargain Outlet had a return on equity of 12.55% and a net margin of 8.63%. The company had revenue of $508.82 million for the quarter, compared to analysts’ expectations of $506.49 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. On average, equities analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.19 EPS for the current year.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC boosted its position in shares of Ollie’s Bargain Outlet by 194.3% in the first quarter. Venturi Wealth Management LLC now owns 309 shares of the company’s stock valued at $25,000 after acquiring an additional 204 shares during the period. Operose Advisors LLC acquired a new stake in Ollie’s Bargain Outlet during the third quarter worth $26,000. ORG Partners LLC bought a new stake in Ollie’s Bargain Outlet in the first quarter valued at about $28,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Ollie’s Bargain Outlet in the 1st quarter worth approximately $29,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Ollie’s Bargain Outlet in the 1st quarter worth about $48,000.

About Ollie’s Bargain Outlet

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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.

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