Fred Alger Management LLC Sells 3,692 Shares of O’Reilly Automotive, Inc. (NASDAQ:ORLY)

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

Several other institutional investors have also added to or reduced their stakes in the business. Darwin Wealth Management LLC bought a new position in shares of O’Reilly Automotive during the third quarter valued at $32,000. Trifecta Capital Advisors LLC grew its stake in shares of O’Reilly Automotive by 383.3% in the third quarter. Trifecta Capital Advisors LLC now owns 29 shares of the specialty retailer’s stock worth $33,000 after acquiring an additional 23 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of O’Reilly Automotive during the third quarter valued at approximately $37,000. Princeton Global Asset Management LLC bought a new position in O’Reilly Automotive during the third quarter valued at approximately $41,000. Finally, Kings Path Partners LLC purchased a new stake in O’Reilly Automotive in the second quarter worth approximately $44,000. 85.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ORLY shares. Wedbush restated a “neutral” rating and issued a $1,200.00 price target on shares of O’Reilly Automotive in a research note on Thursday, October 24th. Barclays boosted their price target on O’Reilly Automotive from $986.00 to $1,088.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Roth Capital upgraded shares of O’Reilly Automotive to a “strong-buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company boosted their target price on shares of O’Reilly Automotive from $1,250.00 to $1,325.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada increased their price target on shares of O’Reilly Automotive from $1,115.00 to $1,286.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, O’Reilly Automotive presently has an average rating of “Moderate Buy” and an average price target of $1,242.13.

Insider Buying and Selling at O’Reilly Automotive

In other O’Reilly Automotive news, Director Andrea Weiss sold 600 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $1,224.07, for a total transaction of $734,442.00. Following the sale, the director now directly owns 700 shares of the company’s stock, valued at $856,849. The trade was a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jeffery Thomas Loafman sold 620 shares of the firm’s 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 value of $769,041.80. Following the completion of the sale, the senior vice president now directly 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

ORLY stock opened at $1,243.22 on Monday. The company’s fifty day moving average price is $1,191.32 and its 200-day moving average price is $1,110.24. O’Reilly Automotive, Inc. has a one year low of $914.50 and a one year high of $1,255.30. The company has a market capitalization of $71.77 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 2.52 and a beta of 0.92.

O’Reilly Automotive (NASDAQ:ORLY) last announced its quarterly earnings results on Wednesday, October 23rd. The specialty retailer reported $11.41 EPS for the quarter, missing the consensus estimate of $11.53 by ($0.12). The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.42 billion. O’Reilly Automotive had a negative return on equity of 155.25% and a net margin of 14.52%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.72 EPS. On average, research analysts predict that O’Reilly Automotive, Inc. will post 40.85 EPS for the current fiscal year.

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.