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

Specifically, CEO Mark L. Butler sold 60,000 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $89.38, for a total transaction of $5,362,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark L. Butler sold 90,000 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $94.49, for a total transaction of $8,504,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 485,337 shares of company stock valued at $44,137,101 over the last 90 days. 20.27% of the stock is currently owned by insiders.

Several brokerages recently issued reports on OLLI. KeyCorp lifted their price objective on shares of Ollie’s Bargain Outlet from $100.00 to $108.00 and gave the company a “positive” rating in a report on Monday, October 1st. BidaskClub upgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 3rd. Royal Bank of Canada downgraded shares of Ollie’s Bargain Outlet from an “outperform” rating to a “sector perform” rating and set a $95.00 target price for the company. in a research note on Monday, November 5th. They noted that the move was a valuation call. ValuEngine upgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 7th. Finally, Zacks Investment Research upgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Monday, September 10th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $90.33.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.31 and a current ratio of 2.03. The firm has a market capitalization of $5.44 billion, a PE ratio of 57.77, a price-to-earnings-growth ratio of 1.97 and a beta of 0.34.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, December 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Ollie’s Bargain Outlet had a net margin of 12.89% and a return on equity of 12.66%. The firm had revenue of $283.60 million during the quarter, compared to analysts’ expectations of $278.62 million. During the same quarter last year, the company posted $0.22 earnings per share. The firm’s revenue was up 19.1% compared to the same quarter last year. As a group, analysts anticipate that Ollie’s Bargain Outlet Holdings Inc will post 1.77 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its stake in shares of Ollie’s Bargain Outlet by 93.3% during the second quarter. Bank of Montreal Can now owns 4,101 shares of the company’s stock worth $298,000 after purchasing an additional 1,979 shares in the last quarter. Aperio Group LLC increased its stake in shares of Ollie’s Bargain Outlet by 6.8% during the second quarter. Aperio Group LLC now owns 27,527 shares of the company’s stock worth $1,996,000 after purchasing an additional 1,746 shares in the last quarter. TD Asset Management Inc. increased its stake in shares of Ollie’s Bargain Outlet by 24.1% during the second quarter. TD Asset Management Inc. now owns 37,243 shares of the company’s stock worth $2,700,000 after purchasing an additional 7,234 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Ollie’s Bargain Outlet by 8.6% during the second quarter. Commonwealth Equity Services LLC now owns 9,636 shares of the company’s stock worth $699,000 after purchasing an additional 767 shares in the last quarter. Finally, New Mexico Educational Retirement Board purchased a new stake in shares of Ollie’s Bargain Outlet during the second quarter worth about $848,000. 90.73% of the stock is owned by institutional investors.

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About Ollie’s Bargain Outlet (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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