Fred Alger Management LLC Has $59.21 Million Stock Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Fred Alger Management LLC cut its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 30.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 539,556 shares of the company's stock after selling 232,589 shares during the period. Fred Alger Management LLC owned 0.88% of Ollie's Bargain Outlet worth $59,205,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Ollie's Bargain Outlet by 173.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock valued at $509,671,000 after acquiring an additional 2,948,393 shares during the period. Congress Asset Management Co. boosted its holdings in Ollie's Bargain Outlet by 181.6% in the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company's stock valued at $210,307,000 after purchasing an additional 1,235,994 shares in the last quarter. Norges Bank acquired a new stake in Ollie's Bargain Outlet during the 4th quarter worth $80,741,000. Stephens Investment Management Group LLC purchased a new stake in Ollie's Bargain Outlet in the fourth quarter valued at approximately $78,356,000. Finally, Raymond James Financial Inc. acquired a new position in Ollie's Bargain Outlet in the fourth quarter valued at $48,633,000.

Analyst Ratings Changes

OLLI has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. StockNews.com lowered Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research note on Tuesday, February 4th. Piper Sandler reduced their price objective on Ollie's Bargain Outlet from $126.00 to $124.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Royal Bank of Canada upped their target price on Ollie's Bargain Outlet from $130.00 to $133.00 and gave the stock an "outperform" rating in a research report on Friday, March 7th. Finally, Morgan Stanley lifted their target price on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $123.08.

Ollie's Bargain Outlet Stock Performance

Shares of OLLI traded down $2.77 during mid-day trading on Friday, reaching $106.17. 812,714 shares of the company's stock traded hands, compared to its average volume of 1,153,137. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $72.19 and a 12 month high of $120.03. The stock has a market capitalization of $6.52 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 2.21 and a beta of 0.45. The business's 50-day moving average price is $108.40 and its 200-day moving average price is $105.33.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). The business had revenue of $667.10 million during the quarter, compared to the consensus estimate of $674.61 million. Ollie's Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 EPS. Equities research analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert Fisch sold 6,250 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $108.08, for a total transaction of $675,500.00. Following the completion of the transaction, the director now owns 22,159 shares of the company's stock, valued at $2,394,944.72. This trade represents a 22.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert F. Helm sold 312 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $107.17, for a total transaction of $33,437.04. Following the completion of the sale, the chief financial officer now owns 3,273 shares in the company, valued at approximately $350,767.41. This trade represents a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,897 shares of company stock valued at $4,227,970 over the last quarter. Corporate insiders own 0.87% of the company's stock.

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.