Ollie’s Bargain Outlet (NASDAQ:OLLI) Announces Earnings Results

Ollie’s Bargain Outlet (NASDAQ:OLLI) posted its quarterly earnings results on Wednesday. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04, Briefing.com reports. Ollie’s Bargain Outlet had a net margin of 9.08% and a return on equity of 13.18%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share.

Ollie’s Bargain Outlet Stock Down 2.0%

Shares of OLLI stock opened at $79.25 on Wednesday. Ollie’s Bargain Outlet has a 12 month low of $73.32 and a 12 month high of $141.74. The business’s 50 day moving average is $87.45 and its two-hundred day moving average is $104.03. The company has a market cap of $4.81 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 1.42 and a beta of 0.46.

Wall Street Analysts Forecast Growth

OLLI has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Ollie’s Bargain Outlet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research report on Friday, March 13th. Piper Sandler reissued an “overweight” rating and issued a $128.00 price target (down from $140.00) on shares of Ollie’s Bargain Outlet in a research report on Friday, March 13th. Citigroup dropped their price objective on Ollie’s Bargain Outlet from $141.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. UBS Group set a $125.00 price objective on Ollie’s Bargain Outlet in a report on Monday, March 16th. Finally, JPMorgan Chase & Co. dropped their price objective on Ollie’s Bargain Outlet from $163.00 to $152.00 and set an “overweight” rating on the stock in a report on Monday, April 13th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.21.

Insider Buying and Selling

In other Ollie’s Bargain Outlet news, Chairman John W. Swygert sold 5,231 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $92.09, for a total transaction of $481,722.79. Following the transaction, the chairman owned 48,200 shares in the company, valued at $4,438,738. This trade represents a 9.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,459 shares of company stock worth $1,149,218 in the last 90 days. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several hedge funds and other institutional investors have recently modified their holdings of OLLI. Balyasny Asset Management L.P. acquired a new stake in shares of Ollie’s Bargain Outlet in the third quarter worth $136,152,000. Invesco Ltd. grew its stake in shares of Ollie’s Bargain Outlet by 17.2% in the third quarter. Invesco Ltd. now owns 2,992,848 shares of the company’s stock worth $384,282,000 after acquiring an additional 440,243 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Ollie’s Bargain Outlet in the fourth quarter worth $44,168,000. Marshall Wace LLP lifted its position in Ollie’s Bargain Outlet by 1,082.9% in the third quarter. Marshall Wace LLP now owns 390,196 shares of the company’s stock worth $50,101,000 after purchasing an additional 357,210 shares during the period. Finally, Wellington Management Group LLP lifted its position in Ollie’s Bargain Outlet by 57.1% in the fourth quarter. Wellington Management Group LLP now owns 953,008 shares of the company’s stock worth $104,459,000 after purchasing an additional 346,543 shares during the period.

Ollie’s Bargain Outlet Company Profile

Ollie’s Bargain Outlet is an American discount retailer specializing in closeout merchandise and surplus inventory across a broad range of categories. The company operates a no-frills retail format that offers branded and private-label products at significant markdowns. Its merchandise mix typically includes housewares, electronics, health and beauty items, food products, beauty supplies, books, toys, and seasonal goods.

Founded in 1982 by Oliver E. “Ollie” Rosenberg, the company is headquartered in Harrisburg, Pennsylvania.