Fred Alger Management LLC Increases Stock Holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Fred Alger Management LLC lifted its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 772,145 shares of the company’s stock after purchasing an additional 83,063 shares during the period. Fred Alger Management LLC owned about 1.26% of Ollie’s Bargain Outlet worth $75,052,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. D. E. Shaw & Co. Inc. raised its stake in shares of Ollie’s Bargain Outlet by 953.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock worth $55,637,000 after buying an additional 512,928 shares during the period. Los Angeles Capital Management LLC increased its holdings in Ollie’s Bargain Outlet by 199.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 560,054 shares of the company’s stock worth $54,981,000 after acquiring an additional 372,914 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in Ollie’s Bargain Outlet during the 3rd quarter worth approximately $16,590,000. Victory Capital Management Inc. raised its stake in Ollie’s Bargain Outlet by 84.8% during the 3rd quarter. Victory Capital Management Inc. now owns 313,836 shares of the company’s stock worth $30,505,000 after acquiring an additional 143,996 shares during the period. Finally, F M Investments LLC bought a new position in shares of Ollie’s Bargain Outlet in the second quarter worth approximately $13,852,000.

Insider Activity

In related news, SVP Kevin Mclain sold 15,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.99, for a total value of $1,484,850.00. Following the completion of the sale, the senior vice president now directly owns 10,610 shares in the company, valued at $1,050,283.90. This trade represents a 58.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Der Valk Eric Van sold 7,479 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $100.32, for a total transaction of $750,293.28. Following the transaction, the president now owns 5,615 shares in the company, valued at $563,296.80. This trade represents a 57.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,912 shares of company stock valued at $2,875,790 in the last ninety days. Insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OLLI. Bank of America lifted their target price on shares of Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Piper Sandler restated an “overweight” rating and issued a $107.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Friday, October 4th. JPMorgan Chase & Co. cut their target price on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Royal Bank of Canada upped their price target on Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com lowered shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.92.

Ollie’s Bargain Outlet Stock Up 0.2 %

OLLI stock opened at $101.09 on Friday. The company has a fifty day simple moving average of $94.99 and a two-hundred day simple moving average of $92.92. Ollie’s Bargain Outlet Holdings, Inc. has a 52 week low of $68.05 and a 52 week high of $104.98. The firm has a market capitalization of $6.20 billion, a P/E ratio of 30.82, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The company had revenue of $578.38 million during the quarter, compared to analyst estimates of $561.60 million. During the same quarter last year, the business posted $0.67 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. As a group, analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.27 EPS for the current year.

Ollie’s Bargain Outlet Company Profile

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