Fred Alger Management LLC Reduces Holdings in O’Reilly Automotive, Inc. (NASDAQ:ORLY)

Fred Alger Management LLC lowered its position in O’Reilly Automotive, Inc. (NASDAQ:ORLY) by 60.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,426 shares of the specialty retailer’s stock after selling 3,692 shares during the quarter. Fred Alger Management LLC’s holdings in O’Reilly Automotive were worth $2,794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ORLY. International Assets Investment Management LLC raised its position in shares of O’Reilly Automotive by 99,957.0% in the third quarter. International Assets Investment Management LLC now owns 854,487 shares of the specialty retailer’s stock valued at $984,027,000 after purchasing an additional 853,633 shares during the period. Mizuho Securities USA LLC raised its holdings in O’Reilly Automotive by 10,626.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 487,212 shares of the specialty retailer’s stock valued at $5,393,000 after acquiring an additional 482,670 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of O’Reilly Automotive by 28.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 601,612 shares of the specialty retailer’s stock worth $692,816,000 after acquiring an additional 133,139 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of O’Reilly Automotive by 809.8% in the second quarter. Marshall Wace LLP now owns 90,978 shares of the specialty retailer’s stock worth $96,078,000 after acquiring an additional 80,978 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of O’Reilly Automotive during the 2nd quarter valued at $63,793,000. 85.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other O’Reilly Automotive news, Director Andrea Weiss sold 600 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $1,224.07, for a total value of $734,442.00. Following the sale, the director now owns 700 shares in the company, valued at approximately $856,849. This represents a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeffery Thomas Loafman sold 620 shares of O’Reilly Automotive stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $1,240.39, for a total transaction of $769,041.80. Following the transaction, the senior vice president now owns 5 shares of the company’s stock, valued at $6,201.95. The trade was a 99.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.55% of the stock is currently owned by company insiders.

O’Reilly Automotive Stock Performance

Shares of ORLY stock opened at $1,243.22 on Monday. O’Reilly Automotive, Inc. has a fifty-two week low of $914.50 and a fifty-two week high of $1,255.30. The firm has a market cap of $71.77 billion, a P/E ratio of 30.76, a P/E/G ratio of 2.52 and a beta of 0.92. The business’s 50 day moving average price is $1,191.32 and its 200-day moving average price is $1,110.24.

O’Reilly Automotive (NASDAQ:ORLY) last issued its quarterly earnings data on Wednesday, October 23rd. The specialty retailer reported $11.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.53 by ($0.12). O’Reilly Automotive had a net margin of 14.52% and a negative return on equity of 155.25%. The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the previous year, the firm posted $10.72 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that O’Reilly Automotive, Inc. will post 40.85 EPS for the current year.

Wall Street Analysts Forecast Growth

ORLY has been the topic of several recent analyst reports. Evercore ISI raised their price target on O’Reilly Automotive from $1,215.00 to $1,230.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. BNP Paribas raised shares of O’Reilly Automotive to a “strong-buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. increased their target price on O’Reilly Automotive from $1,125.00 to $1,300.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Roth Capital raised O’Reilly Automotive to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Morgan Stanley increased their price objective on O’Reilly Automotive from $1,100.00 to $1,150.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, O’Reilly Automotive presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,242.13.

O’Reilly Automotive Profile

O’Reilly Automotive, Inc, together with its subsidiaries, operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, Puerto Rico, and Mexico. The company provides new and remanufactured automotive hard parts and maintenance items, such as alternators, batteries, brake system components, belts, chassis parts, driveline parts, engine parts, fuel pumps, hoses, starters, temperature control, water pumps, antifreeze, appearance products, engine additives, filters, fluids, lighting products, and oil and wiper blades; and accessories, including floor mats, seat covers, and truck accessories.