Frontier Wealth Management LLC Cuts Stake in O’Reilly Automotive, Inc. (ORLY)
Frontier Wealth Management LLC cut its position in O’Reilly Automotive, Inc. (NASDAQ:ORLY) by 55.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,963 shares of the specialty retailer’s stock after selling 2,465 shares during the period. Frontier Wealth Management LLC’s holdings in O’Reilly Automotive were worth $429,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Barrett Asset Management LLC increased its holdings in shares of O’Reilly Automotive by 261.5% in the second quarter. Barrett Asset Management LLC now owns 470 shares of the specialty retailer’s stock valued at $103,000 after purchasing an additional 340 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of O’Reilly Automotive by 23.1% in the first quarter. Proficio Capital Partners LLC now owns 496 shares of the specialty retailer’s stock valued at $119,000 after purchasing an additional 93 shares during the period. Global X Management Co. LLC increased its holdings in shares of O’Reilly Automotive by 30.2% in the first quarter. Global X Management Co. LLC now owns 758 shares of the specialty retailer’s stock valued at $205,000 after purchasing an additional 176 shares during the period. South Texas Money Management Ltd. acquired a new position in shares of O’Reilly Automotive in the first quarter valued at about $222,000. Finally, Penserra Capital Management LLC boosted its stake in shares of O’Reilly Automotive by 13.0% in the second quarter. Penserra Capital Management LLC now owns 832 shares of the specialty retailer’s stock worth $181,000 after buying an additional 96 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of O’Reilly Automotive, Inc. (NASDAQ:ORLY) traded up 0.04% during trading on Friday, hitting $215.37. The company’s stock had a trading volume of 730,680 shares. The company has a 50-day moving average price of $201.21 and a 200-day moving average price of $229.32. O’Reilly Automotive, Inc. has a one year low of $169.43 and a one year high of $286.57. The stock has a market cap of $18.96 billion, a PE ratio of 18.87 and a beta of 0.76.
O’Reilly Automotive (NASDAQ:ORLY) last announced its quarterly earnings data on Wednesday, July 26th. The specialty retailer reported $3.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.90 by $0.20. O’Reilly Automotive had a return on equity of 72.22% and a net margin of 12.23%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the company earned $2.65 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts predict that O’Reilly Automotive, Inc. will post $11.87 EPS for the current fiscal year.
O’Reilly Automotive announced that its Board of Directors has approved a stock buyback program on Friday, September 1st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to buy up to 5.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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In other news, SVP Randy Johnson sold 1,040 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $204.44, for a total transaction of $212,617.60. Following the sale, the senior vice president now owns 9,232 shares of the company’s stock, valued at approximately $1,887,390.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rosalie Oreilly Wooten sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $200.87, for a total value of $1,004,350.00. Following the sale, the director now directly owns 72,562 shares in the company, valued at approximately $14,575,528.94. The disclosure for this sale can be found here. Insiders sold a total of 18,120 shares of company stock worth $3,687,235 in the last ninety days. 3.12% of the stock is owned by corporate insiders.
A number of analysts have recently commented on ORLY shares. Wedbush restated a “neutral” rating on shares of O’Reilly Automotive in a research note on Thursday, July 6th. Oppenheimer Holdings, Inc. set a $220.00 target price on O’Reilly Automotive and gave the stock a “buy” rating in a research note on Thursday, July 27th. BidaskClub downgraded O’Reilly Automotive from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Royal Bank Of Canada lowered their target price on O’Reilly Automotive from $280.00 to $201.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 6th. Finally, Goldman Sachs Group, Inc. (The) upgraded O’Reilly Automotive from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $262.00 to $210.00 in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $245.30.
About O’Reilly Automotive
O’Reilly Automotive, Inc is a specialty retailer of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States. The Company sells its products to both do-it-yourself (DIY) and professional service provider customers. The Company’s product line includes new and remanufactured automotive hard parts, such as alternators, starters, fuel pumps, water pumps, brake system components, batteries, belts, hoses, temperature control, chassis parts, driveline parts and engine parts; maintenance items, such as oil, antifreeze, fluids, filters, wiper blades, lighting, engine additives and appearance products, and accessories, such as floor mats, seat covers and truck accessories.
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