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

Fred Alger Management LLC grew its stake in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 12.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 772,145 shares of the company’s stock after acquiring an additional 83,063 shares during the period. Fred Alger Management LLC’s holdings in Ollie’s Bargain Outlet were worth $75,052,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of OLLI. International Assets Investment Management LLC purchased a new position in Ollie’s Bargain Outlet during the 2nd quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at approximately $31,000. Crewe Advisors LLC purchased a new position in Ollie’s Bargain Outlet during the second quarter valued at approximately $36,000. Versant Capital Management Inc bought a new position in Ollie’s Bargain Outlet in the second quarter worth approximately $38,000. Finally, GAMMA Investing LLC lifted its holdings in Ollie’s Bargain Outlet by 686.7% during the second quarter. GAMMA Investing LLC now owns 472 shares of the company’s stock worth $46,000 after buying an additional 412 shares during the period.

Ollie’s Bargain Outlet Price Performance

NASDAQ OLLI opened at $101.09 on Friday. The stock’s fifty day moving average price is $94.99 and its 200 day moving average price is $92.92. Ollie’s Bargain Outlet Holdings, Inc. has a 1 year low of $68.05 and a 1 year high of $104.98. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 2.51 and a beta of 0.84.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on OLLI shares. Gordon Haskett upgraded Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and lifted their price target for the company from $105.00 to $107.00 in a report on Monday, August 26th. StockNews.com lowered Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. UBS Group increased their price target on shares of Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Royal Bank of Canada lifted their price objective on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.92.

Insider Buying and Selling

In other news, SVP Kevin Mclain sold 15,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $98.99, for a total value of $1,484,850.00. Following the sale, the senior vice president now directly owns 10,610 shares of the company’s stock, valued at $1,050,283.90. This represents a 58.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John W. Swygert sold 4,032 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $102.51, for a total transaction of $413,320.32. Following the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at approximately $4,940,982. This trade represents a 7.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,912 shares of company stock worth $2,875,790. 0.87% of the stock is owned by company insiders.

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.