Ollie’s Bargain Outlet Target of Unusually Large Options Trading (NASDAQ:OLLI)

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the recipient of unusually large options trading activity on Wednesday. Stock traders purchased 7,004 put options on the stock. This is an increase of approximately 585% compared to the average volume of 1,022 put options.

Ollie’s Bargain Outlet Stock Up 0.2 %

Shares of Ollie’s Bargain Outlet stock opened at $101.09 on Friday. The stock has a market cap of $6.20 billion, a PE ratio of 30.82, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $104.98. The business has a fifty day simple moving average of $94.92 and a 200-day simple moving average of $92.87.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The business had revenue of $578.38 million for the quarter, compared to analysts’ expectations of $561.60 million. During the same period in the previous year, the company posted $0.67 EPS. Ollie’s Bargain Outlet’s revenue was up 12.4% on a year-over-year basis. Analysts expect that Ollie’s Bargain Outlet will post 3.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Ollie’s Bargain Outlet news, CFO Robert F. Helm sold 2,401 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total transaction of $227,326.68. Following the sale, the chief financial officer now directly owns 2,021 shares in the company, valued at $191,348.28. The trade was a 54.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin Mclain sold 15,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.99, for a total value of $1,484,850.00. Following the transaction, the senior vice president now owns 10,610 shares of the company’s stock, valued at approximately $1,050,283.90. This trade represents a 58.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,912 shares of company stock valued at $2,875,790 in the last quarter. Company insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OLLI. State Street Corp grew its stake in shares of Ollie’s Bargain Outlet by 2.1% in the 3rd quarter. State Street Corp now owns 1,871,047 shares of the company’s stock valued at $181,866,000 after buying an additional 38,203 shares in the last quarter. Geode Capital Management LLC grew its position in Ollie’s Bargain Outlet by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock worth $104,860,000 after acquiring an additional 9,492 shares in the last quarter. Geneva Capital Management LLC increased its stake in shares of Ollie’s Bargain Outlet by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company’s stock worth $102,106,000 after purchasing an additional 13,369 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Ollie’s Bargain Outlet by 5.6% during the 2nd quarter. American Century Companies Inc. now owns 780,064 shares of the company’s stock valued at $76,579,000 after purchasing an additional 41,605 shares in the last quarter. Finally, Fred Alger Management LLC lifted its stake in shares of Ollie’s Bargain Outlet by 12.1% in the 3rd quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock valued at $75,052,000 after purchasing an additional 83,063 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OLLI. Loop Capital reissued a “buy” rating and issued a $110.00 price target on shares of Ollie’s Bargain Outlet in a report on Friday, September 20th. Royal Bank of Canada upped their price target on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Bank of America boosted their target price on shares of Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Piper Sandler reissued an “overweight” rating and issued a $107.00 price objective on shares of Ollie’s Bargain Outlet in a report on Friday, October 4th. Finally, StockNews.com downgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Ollie’s Bargain Outlet presently has an average rating of “Moderate Buy” and a consensus target price of $104.92.

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.