Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 11,840,000 shares, a growth of 8.5% from the December 15th total of 10,910,000 shares. Currently, 21.5% of the company’s stock are sold short. Based on an average trading volume of 1,190,000 shares, the days-to-cover ratio is presently 9.9 days.
A number of analysts recently weighed in on the stock. Wells Fargo & Co reissued a “hold” rating on shares of Ollie’s Bargain Outlet in a report on Friday, December 6th. Royal Bank of Canada lifted their price target on shares of Ollie’s Bargain Outlet from $69.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. BidaskClub cut shares of Ollie’s Bargain Outlet from a “sell” rating to a “strong sell” rating in a research report on Tuesday. TheStreet cut shares of Ollie’s Bargain Outlet from a “b” rating to a “c+” rating in a research report on Wednesday, October 2nd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $86.00 price target (up from $70.00) on shares of Ollie’s Bargain Outlet in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Ollie’s Bargain Outlet has a consensus rating of “Buy” and a consensus target price of $82.08.
Shares of Ollie’s Bargain Outlet stock traded down $0.56 during trading on Thursday, hitting $54.11. 75,895 shares of the stock were exchanged, compared to its average volume of 1,081,686. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 1.30 and a beta of 0.85. The company has a fifty day moving average price of $63.52 and a 200-day moving average price of $68.75. Ollie’s Bargain Outlet has a 1-year low of $53.10 and a 1-year high of $103.03. The company has a current ratio of 2.14, a quick ratio of 0.09 and a debt-to-equity ratio of 0.28.
In related news, VP Kenneth Robert Bertram sold 12,228 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.71, for a total value of $791,273.88. Following the completion of the sale, the vice president now owns 41,717 shares of the company’s stock, valued at $2,699,507.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John W. Swygert sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chief executive officer now directly owns 44,156 shares of the company’s stock, valued at approximately $3,090,920. The disclosure for this sale can be found here. Insiders sold 54,427 shares of company stock worth $3,651,830 over the last ninety days. 16.36% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of OLLI. Princeton Global Asset Management LLC bought a new stake in shares of Ollie’s Bargain Outlet during the 2nd quarter worth approximately $35,000. Whitnell & Co. bought a new position in Ollie’s Bargain Outlet in the 3rd quarter valued at approximately $26,000. NumerixS Investment Technologies Inc acquired a new position in Ollie’s Bargain Outlet in the 2nd quarter valued at approximately $44,000. FTB Advisors Inc. increased its position in Ollie’s Bargain Outlet by 107.7% in the 4th quarter. FTB Advisors Inc. now owns 511 shares of the company’s stock valued at $33,000 after acquiring an additional 265 shares during the period. Finally, Private Capital Group LLC increased its position in Ollie’s Bargain Outlet by 166.3% in the 2nd quarter. Private Capital Group LLC now owns 522 shares of the company’s stock valued at $38,000 after acquiring an additional 326 shares during the period. 95.55% of the stock is owned by hedge funds and other institutional investors.
About Ollie’s Bargain Outlet
Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise. The company offers food products, housewares, books and stationery, bed and bath products, health and beauty products, floor coverings, electronics, and toys; and other products, including hardware, personal health care, candy, clothing, sporting, pet and lawn, and garden products.
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