Long Position on OLLI @ $105.50 on 7/27/2020 (Momentum)

Ollie's Bargain Outlet Holdings, Inc. (OLLI) operates as a retailer of brand name merchandise.

The company offers food products, housewares, books and stationery, bed and bath products, health and beauty products, floor coverings, electronics, and toys; and other products, including hardware, personal health care, candy, clothing, sporting, pet and lawn, and garden products.

It provides its products primarily under the Ollie's, Ollie's Bargain Outlet, Good Stuff Cheap, Ollie's Army, Real Brands Real Cheap!, Real Brands! Real Bargains, Sarasota Breeze, Steelton Tools, American Way, and Commonwealth Classics names.

As of June 6, 2019, it operated 327 stores in 23 states in the eastern half of the United States.

The company was formerly known as Bargain Holdings, Inc. and changed its name to Ollie's Bargain Outlet Holdings, Inc. in March 2015. 

Ollie's Bargain Outlet Holdings reported 1st Quarter April 2020 earnings of $0.49 per share on revenue of $349.4 million. The consensus earnings estimate was $0.35 per share on revenue of $308.5 million. Revenue grew 7.5% on a year-over-year basis.

Ollie's reported same-store sales rose on July 22nd. The company expects net sales of $515 million for the second quarter ending Aug. 1, with comparable-store-sales growth of about 40%. This upward momentum should send shares higher.

Entry point: $105.50

52-week trade range: $28.83 - $110.17

Stop/Loss: $100.25

Target Price: $116.00

Updates

12/4/2020 9:48:05 AM

OLLI closed at $79

Position closed on 12/4/2020 at price of $79.00 with a -25.12% loss in 130 days.

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