Ollie’s Bargain Outlet (OLLI) Stock Price Down 17.2% After Insider Selling

Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) fell 17.2% during mid-day trading on Thursday following insider selling activity. The company traded as low as $70.30 and last traded at $71.90. 5,397,592 shares changed hands during mid-day trading, an increase of 658% from the average session volume of 712,271 shares. The stock had previously closed at $86.83.

Specifically, CEO Mark L. Butler sold 80,000 shares of the stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $88.95, for a total value of $7,116,000.00. Following the completion of the sale, the chief executive officer now owns 2,650,242 shares of the company’s stock, valued at $235,739,025.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John W. Swygert sold 48,000 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $88.84, for a total value of $4,264,320.00. Following the completion of the sale, the chief operating officer now directly owns 77,193 shares of the company’s stock, valued at approximately $6,857,826.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 485,337 shares of company stock valued at $44,137,101. Insiders own 20.27% of the company’s stock.

Several equities research analysts recently commented on the company. BidaskClub upgraded Ollie’s Bargain Outlet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 3rd. Zacks Investment Research upgraded Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Monday, September 10th. MKM Partners upped their target price on Ollie’s Bargain Outlet from $80.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, September 5th. Royal Bank of Canada upped their target price on Ollie’s Bargain Outlet to $95.00 and gave the company an “outperform” rating in a research report on Thursday, September 6th. Finally, Buckingham Research upped their target price on Ollie’s Bargain Outlet from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 6th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $90.33.

The company has a quick ratio of 0.31, a current ratio of 2.03 and a debt-to-equity ratio of 0.01. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 55.30, a P/E/G ratio of 1.97 and a beta of 0.34.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Tuesday, December 4th. The company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. Ollie’s Bargain Outlet had a return on equity of 12.66% and a net margin of 12.89%. The company had revenue of $283.60 million for the quarter, compared to analyst estimates of $278.62 million. During the same quarter last year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. On average, equities analysts forecast that Ollie’s Bargain Outlet Holdings Inc will post 1.77 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd increased its position in shares of Ollie’s Bargain Outlet by 290.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,568 shares of the company’s stock valued at $151,000 after acquiring an additional 1,166 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Ollie’s Bargain Outlet by 414.7% during the third quarter. Parallel Advisors LLC now owns 1,750 shares of the company’s stock valued at $168,000 after acquiring an additional 1,410 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of Ollie’s Bargain Outlet by 92.8% during the third quarter. Glenmede Trust Co. NA now owns 1,897 shares of the company’s stock valued at $181,000 after acquiring an additional 913 shares during the last quarter. Norris Perne & French LLP MI purchased a new stake in shares of Ollie’s Bargain Outlet during the third quarter valued at approximately $203,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Ollie’s Bargain Outlet during the third quarter valued at approximately $216,000. 90.73% of the stock is owned by institutional investors.

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Ollie’s Bargain Outlet Company Profile (NASDAQ:OLLI)

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise. The company offers food products, housewares, books and stationery, bed and bath products, floor coverings, electronics, and toys; and other products, including hardware, personal health care, candy, clothing, sporting, pet and lawn, and garden products.

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