HARRISBURG—Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI), the $6.1 billion market cap retailer with a perfect Piotroski Score of 9 according to InvestingPro, saw its CEO John W. Swygert recently execute stock transactions involving the company's common stock. According to a recent SEC filing, Swygert sold a total of 4,800 shares at a weighted average price of $102.60 per share, resulting in a total transaction value of $492,480. The sales occurred on November 27, 2024, with the shares being sold in multiple transactions at prices ranging from $102.50 to $102.67, near the stock's 52-week high of $104.98.
In addition to the sales, Swygert also exercised options to acquire 4,800 shares at prices between $32.30 and $58.90, totaling $218,880. Following these transactions, Swygert holds 48,200 shares of Ollie's Bargain Outlet common stock directly.
The transactions were part of a pre-arranged trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934.
In other recent news, Ollie's Bargain Outlet Holdings, Inc. has made significant strides in its business strategy. The company recently won a bid to acquire eight additional store leases formerly owned by Big Lots (NYSE:BIG). This follows its successful acquisition of seven other Big Lots store leases, bringing the total to 15. These acquisitions are part of Ollie's strategic growth plan, which aims to open 50 new stores in 2024.
Analysts from KeyBanc, Piper Sandler, and RBC Capital Markets have provided insights into Ollie's recent developments. KeyBanc maintained an Overweight rating on Ollie's, attributing this to the company's strategic growth through store acquisitions. Piper Sandler reiterated its Overweight rating with a steady price target of $107, while RBC Capital Markets increased its price target to $106 from the previous $100, maintaining an Outperform rating.
Financial performance highlights include a 12% increase in net sales to $578 million in the second fiscal quarter of 2024, with a 5.8% rise in comparable store sales. This strong performance prompted an upgrade in the company's sales and earnings guidance for the year. These recent developments indicate Ollie's strategic positioning in the retail market and potential for continued growth.
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