Short Interest in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Expands By 20.2%

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

Ollie’s Bargain Outlet Trading Down 0.4 %

OLLI traded down $0.48 during trading hours on Thursday, hitting $107.46. The company’s stock had a trading volume of 401,632 shares, compared to its average volume of 1,097,030. The firm has a market capitalization of $6.58 billion, a PE ratio of 32.13, a PEG 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 company has a 50-day simple moving average of $105.13 and a 200 day simple moving average of $101.38.

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

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 70,496 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Ollie’s Bargain Outlet by 173.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock worth $509,671,000 after purchasing an additional 2,948,393 shares during the last quarter. Congress Asset Management Co. grew its position in Ollie’s Bargain Outlet by 181.6% in 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 last quarter. State Street Corp grew its position 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 worth $181,866,000 after buying an additional 38,203 shares during the last quarter. Finally, Invesco Ltd. grew its position 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 worth $180,558,000 after buying an additional 17,302 shares during the last quarter.

Analyst Ratings Changes

OLLI has been the subject of several recent research reports. StockNews.com downgraded Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Craig Hallum raised their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Bank of America raised their target price on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Jefferies Financial Group lowered shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and dropped their price objective for the company from $125.00 to $111.00 in a research note on Tuesday, February 4th. Finally, UBS Group lifted their price objective on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the company a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ollie’s Bargain Outlet currently has an average rating of “Moderate Buy” and a consensus target price of $121.86.

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.