Fred Alger Management LLC Has $7.37 Million Holdings in O’Reilly Automotive, Inc. (NASDAQ:ORLY)

Fred Alger Management LLC lowered its stake in O’Reilly Automotive, Inc. (NASDAQ:ORLY – Get Rating) by 52.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,479 shares of the specialty retailer’s stock after selling 11,587 shares during the period. Fred Alger Management LLC’s holdings in O’Reilly Automotive were worth $7,370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Riverview Trust Co lifted its position in shares of O’Reilly Automotive by 56.5% in the third quarter. Riverview Trust Co now owns 36 shares of the specialty retailer’s stock worth $25,000 after buying an additional 13 shares during the last quarter. Acropolis Investment Management LLC lifted its position in shares of O’Reilly Automotive by 0.5% during the 3rd quarter. Acropolis Investment Management LLC now owns 3,081 shares of the specialty retailer’s stock worth $2,167,000 after purchasing an additional 14 shares during the last quarter. Mission Wealth Management LP lifted its position in shares of O’Reilly Automotive by 2.4% during the 3rd quarter. Mission Wealth Management LP now owns 600 shares of the specialty retailer’s stock worth $422,000 after purchasing an additional 14 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its position in shares of O’Reilly Automotive by 0.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 1,695 shares of the specialty retailer’s stock worth $1,192,000 after purchasing an additional 14 shares during the last quarter. Finally, Monetary Management Group Inc. lifted its position in shares of O’Reilly Automotive by 0.3% during the 2nd quarter. Monetary Management Group Inc. now owns 5,080 shares of the specialty retailer’s stock worth $3,209,000 after purchasing an additional 15 shares during the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ORLY. Wells Fargo & Company boosted their price objective on O’Reilly Automotive from $850.00 to $925.00 and gave the stock an “overweight” rating in a research report on Thursday, January 5th. StockNews.com cut O’Reilly Automotive from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 17th. Truist Financial boosted their price objective on O’Reilly Automotive from $892.00 to $921.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. Barclays initiated coverage on O’Reilly Automotive in a research report on Tuesday, February 7th. They set an “equal weight” rating and a $815.00 price objective for the company. Finally, Wedbush reaffirmed a “neutral” rating and issued a $820.00 price target on shares of O’Reilly Automotive in a report on Thursday, February 9th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $859.60.

Insider Activity

In related news, SVP Jeffrey Alan Lauro sold 500 shares of the stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $834.31, for a total transaction of $417,155.00. Following the sale, the senior vice president now directly owns 768 shares in the company, valued at approximately $640,750.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.73% of the company’s stock.

O’Reilly Automotive Trading Up 0.4 %

ORLY stock opened at $821.23 on Wednesday. O’Reilly Automotive, Inc. has a 1-year low of $562.90 and a 1-year high of $873.94. The firm has a market cap of $50.78 billion, a P/E ratio of 24.52, a P/E/G ratio of 1.73 and a beta of 0.88. The business’s 50 day moving average is $822.79 and its 200-day moving average is $795.08.

O’Reilly Automotive (NASDAQ:ORLY – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The specialty retailer reported $8.37 earnings per share for the quarter, beating the consensus estimate of $7.71 by $0.66. O’Reilly Automotive had a negative return on equity of 234.76% and a net margin of 15.08%. The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the company posted $7.64 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Sell-side analysts forecast that O’Reilly Automotive, Inc. will post 36.62 EPS for the current year.

O’Reilly Automotive Company Profile

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O’Reilly Automotive, Inc owns and operates retail outlets in the United States. It engages in the distribution and retailing of automotive aftermarket parts, tools, supplies, equipment, and accessories in the U.S., serving both professional installers and do-it-yourself customers. It provides new and remanufactured automotive hard parts, including alternators, starters, fuel pumps, water pumps, brake system components, batteries, belts, hoses, temperature controls, chassis parts and engine parts, maintenance items consisting of oil, antifreeze products, fluids, filters, lighting products, engine additives, and appearance products, and accessories, such as floor mats, seat covers, and truck accessories.