Fred Alger Management LLC Sells 19,390 Shares of Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Fred Alger Management LLC reduced its stake in Ollie's Bargain Outlet by 3.6%, now owning 520,166 shares valued at approximately $60.5 million.
• The company's latest earnings report indicated earnings per share of $0.99, exceeding estimates and reflecting a revenue increase of 17.5% year-over-year.
• Analysts have varied price targets, with Morgan Stanley raising theirs from $118 to $145, while Piper Sandler set a target of $150, indicating positive sentiment among market analysts.

Fred Alger Management LLC cut its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 520,166 shares of the company's stock after selling 19,390 shares during the period. Fred Alger Management LLC owned about 0.85% of Ollie's Bargain Outlet worth $60,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HM Payson & Co. purchased a new position in Ollie's Bargain Outlet in the first quarter worth $30,000. City Holding Co. purchased a new stake in Ollie's Bargain Outlet during the first quarter valued at about $31,000. Putney Financial Group LLC purchased a new stake in Ollie's Bargain Outlet during the fourth quarter valued at about $33,000. Opal Wealth Advisors LLC purchased a new stake in Ollie's Bargain Outlet during the first quarter valued at about $38,000. Finally, Brooklyn Investment Group boosted its position in Ollie's Bargain Outlet by 133.5% during the first quarter. Brooklyn Investment Group now owns 390 shares of the company's stock valued at $45,000 after buying an additional 223 shares during the period.

Insider Transactions at Ollie's Bargain Outlet

In related news, SVP James J. Comitale sold 2,117 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $130.00, for a total value of $275,210.00. Following the completion of the transaction, the senior vice president directly owned 2,504 shares of the company's stock, valued at $325,520. This represents a 45.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. KeyCorp set a $145.00 price target on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a research report on Thursday, June 26th. Loop Capital lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price target for the company. in a research report on Tuesday, June 24th. Royal Bank Of Canada upped their price target on shares of Ollie's Bargain Outlet from $144.00 to $149.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Truist Financial upped their price target on shares of Ollie's Bargain Outlet from $146.00 to $148.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Finally, Bank of America upped their price objective on shares of Ollie's Bargain Outlet from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Ollie's Bargain Outlet currently has a consensus rating of "Moderate Buy" and an average price target of $143.46.

Ollie's Bargain Outlet Stock Down 0.0%

Shares of NASDAQ:OLLI traded down $0.04 during midday trading on Friday, hitting $131.53. 777,231 shares of the stock traded hands, compared to its average volume of 1,238,665. The stock has a market capitalization of $8.06 billion, a PE ratio of 38.12, a P/E/G ratio of 2.69 and a beta of 0.45. The business's 50 day moving average is $132.43 and its two-hundred day moving average is $119.61. Ollie's Bargain Outlet Holdings, Inc. has a one year low of $86.88 and a one year high of $141.74.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its quarterly earnings results on Thursday, August 28th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.08. Ollie's Bargain Outlet had a net margin of 8.74% and a return on equity of 12.66%. The company had revenue of $679.56 million during the quarter, compared to the consensus estimate of $658.03 million. During the same period in the prior year, the firm earned $0.78 earnings per share. Ollie's Bargain Outlet's revenue was up 17.5% on a year-over-year basis. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. As a group, sell-side analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

About Ollie's Bargain Outlet

Ollie's Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company's products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.