Ollie's Bargain Outlet Holdings, Inc. $OLLI Shares Sold by Fred Alger Management LLC

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

A number of other hedge funds have also modified their holdings of OLLI. HM Payson & Co. acquired a new position in shares of Ollie's Bargain Outlet in the 1st quarter worth $30,000. City Holding Co. acquired a new stake in Ollie's Bargain Outlet during the first quarter valued at $31,000. Putney Financial Group LLC acquired a new stake in Ollie's Bargain Outlet during the fourth quarter valued at $33,000. Opal Wealth Advisors LLC acquired a new stake in Ollie's Bargain Outlet during the first quarter valued at $38,000. Finally, Brooklyn Investment Group lifted its holdings in Ollie's Bargain Outlet by 133.5% in the 1st quarter. Brooklyn Investment Group now owns 390 shares of the company's stock worth $45,000 after purchasing an additional 223 shares during the last quarter.

Ollie's Bargain Outlet Stock Down 0.3%

Shares of OLLI opened at $133.40 on Monday. Ollie's Bargain Outlet Holdings, Inc. has a 12-month low of $86.67 and a 12-month high of $141.74. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 38.67, a P/E/G ratio of 2.73 and a beta of 0.45. The stock's 50-day moving average price is $132.62 and its 200 day moving average price is $118.63.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on OLLI shares. Morgan Stanley lifted their price target on shares of Ollie's Bargain Outlet from $118.00 to $145.00 and gave the company an "equal weight" rating in a research report on Friday, August 29th. Piper Sandler boosted their price objective on Ollie's Bargain Outlet from $123.00 to $150.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 19th. Loop Capital cut Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price objective for the company. in a research report on Tuesday, June 24th. Wells Fargo & Company boosted their price objective on Ollie's Bargain Outlet from $105.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Friday, August 29th. Finally, Jefferies Financial Group boosted their price objective on Ollie's Bargain Outlet from $111.00 to $135.00 and gave the stock a "hold" rating in a research report on Friday, August 29th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $143.46.

Insider Buying and Selling

In related news, SVP James J. Comitale sold 2,117 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $130.00, for a total transaction of $275,210.00. Following the sale, the senior vice president directly owned 2,504 shares in the company, valued at $325,520. This represents a 45.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Der Valk Eric Van sold 728 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $112.85, for a total value of $82,154.80. Following the sale, the chief executive officer owned 7,761 shares in the company, valued at approximately $875,828.85. This trade represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.87% of the stock is owned by corporate insiders.

Ollie's Bargain Outlet Profile

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.

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