Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Short Interest Update

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 3,160,000 shares, an increase of 20.2% from the February 13th total of 2,630,000 shares. Currently, 5.2% of the company’s shares are sold short. Based on an average trading volume of 1,120,000 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Trading of Ollie’s Bargain Outlet

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Ollie’s Bargain Outlet by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company’s stock worth $638,843,000 after buying an additional 70,496 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of 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 buying an additional 2,948,393 shares during the period. Congress Asset Management Co. increased its stake in shares of Ollie’s Bargain Outlet by 181.6% during the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock worth $210,307,000 after buying an additional 1,235,994 shares during the period. State Street Corp increased its stake in Ollie’s Bargain Outlet by 2.1% in the third quarter. State Street Corp now owns 1,871,047 shares of the company’s stock valued at $181,866,000 after purchasing an additional 38,203 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Ollie’s Bargain Outlet by 1.1% in the fourth quarter. Invesco Ltd. now owns 1,645,472 shares of the company’s stock valued at $180,558,000 after purchasing an additional 17,302 shares during the last quarter.

Wall Street Analysts Forecast Growth

OLLI has been the topic of several recent research reports. StockNews.com cut shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. Royal Bank of Canada boosted their price target on shares of Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Jefferies Financial Group cut shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and lowered their price target for the company from $125.00 to $111.00 in a research report on Tuesday, February 4th. Wells Fargo & Company boosted their price target on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Loop Capital upped their target price on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given 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 price target of $118.29.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI traded up $8.88 during mid-day trading on Wednesday, hitting $107.94. 3,533,817 shares of the company’s stock were exchanged, compared to its average volume of 1,103,970. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 32.22, a P/E/G ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet has a fifty-two week low of $68.05 and a fifty-two week high of $120.03. The stock’s 50-day moving average is $105.06 and its 200-day moving average is $101.33.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $674.61 million. During the same quarter in the previous year, the company posted $1.23 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Ollie’s Bargain Outlet will post 3.29 EPS for the current year.

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.