Ollie’s Bargain Outlet (NASDAQ:OLLI) Shares Gap Down Following Insider Selling

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s share price gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $99.87, but opened at $96.35. Ollie’s Bargain Outlet shares last traded at $96.91, with a volume of 743,165 shares traded.

Specifically, CEO John W. Swygert sold 4,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $102.60, for a total value of $492,480.00. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at $4,945,320. The trade was a 9.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company lowered Ollie’s Bargain Outlet from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $100.00 to $95.00 in a research note on Tuesday. StockNews.com cut Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and upped their target price for the company from $105.00 to $107.00 in a research report on Monday, August 26th. Loop Capital reissued a “buy” rating and set a $110.00 target price on shares of Ollie’s Bargain Outlet in a research note on Friday, September 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $107.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.50.

Ollie’s Bargain Outlet Stock Down 3.0 %

The company has a 50 day moving average of $94.95 and a 200 day moving average of $93.56. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 2.46 and a beta of 0.85.

Institutional Trading of Ollie’s Bargain Outlet

Institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC grew its holdings in shares of Ollie’s Bargain Outlet by 6.4% during the second quarter. Signaturefd LLC now owns 1,727 shares of the company’s stock valued at $170,000 after purchasing an additional 104 shares during the last quarter. Trust Point Inc. lifted its position in shares of Ollie’s Bargain Outlet by 1.0% during the 3rd quarter. Trust Point Inc. now owns 13,184 shares of the company’s stock valued at $1,281,000 after acquiring an additional 134 shares during the last quarter. FORA Capital LLC lifted its position in shares of Ollie’s Bargain Outlet by 3.2% during the 3rd quarter. FORA Capital LLC now owns 4,800 shares of the company’s stock valued at $467,000 after acquiring an additional 148 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Ollie’s Bargain Outlet by 37.9% during the 3rd quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock valued at $63,000 after acquiring an additional 179 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Ollie’s Bargain Outlet by 5.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,544 shares of the company’s stock valued at $344,000 after acquiring an additional 188 shares during the last quarter.

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.