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

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was the recipient of a large growth in short interest during the month of 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 daily volume of 1,120,000 shares, the short-interest ratio is currently 2.8 days. Currently, 5.2% of the company’s shares are short sold.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Piper Sandler increased their price objective on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Loop Capital upped their price objective on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Truist Financial boosted their price target on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company lifted their price objective on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada upped their price objective on shares of Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Ollie’s Bargain Outlet has an average rating of “Moderate Buy” and a consensus price target of $118.29.

Ollie’s Bargain Outlet Price Performance

Shares of OLLI traded down $4.26 during trading hours on Tuesday, hitting $99.06. 1,610,192 shares of the company were exchanged, compared to its average volume of 1,094,387. The firm has a fifty day simple moving average of $105.06 and a 200-day simple moving average of $101.33. The company has a market capitalization of $6.07 billion, a PE ratio of 29.57, a PEG ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet has a one year low of $68.05 and a one year high of $120.03.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in 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 period. Congress Asset Management Co. grew its position in 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 valued at $210,307,000 after purchasing an additional 1,235,994 shares in the last quarter. Norges Bank purchased a new stake in Ollie’s Bargain Outlet in the 4th quarter worth approximately $80,741,000. Stephens Investment Management Group LLC acquired a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter valued at $78,356,000. Finally, Holocene Advisors LP grew its holdings in shares of Ollie’s Bargain Outlet by 10,159.3% during the 3rd quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock valued at $45,821,000 after acquiring an additional 466,818 shares in the last quarter.

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.