Highbridge Capital Management LLC Invests $1.68 Million in O’Reilly Automotive Inc (ORLY) Stock

Highbridge Capital Management LLC purchased a new position in O’Reilly Automotive Inc (NASDAQ:ORLY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,843 shares of the specialty retailer’s stock, valued at approximately $1,682,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. boosted its holdings in O’Reilly Automotive by 1.3% in the third quarter. BlackRock Inc. now owns 6,041,654 shares of the specialty retailer’s stock worth $2,098,387,000 after acquiring an additional 75,454 shares in the last quarter. Polen Capital Management LLC lifted its holdings in shares of O’Reilly Automotive by 1.8% during the second quarter. Polen Capital Management LLC now owns 2,835,262 shares of the specialty retailer’s stock worth $775,643,000 after purchasing an additional 48,778 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of O’Reilly Automotive by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 1,441,213 shares of the specialty retailer’s stock worth $394,273,000 after purchasing an additional 62,889 shares during the period. American Century Companies Inc. lifted its holdings in shares of O’Reilly Automotive by 10.5% during the second quarter. American Century Companies Inc. now owns 1,110,755 shares of the specialty retailer’s stock worth $303,869,000 after purchasing an additional 105,794 shares during the period. Finally, Waddell & Reed Financial Inc. lifted its holdings in shares of O’Reilly Automotive by 25.1% during the second quarter. Waddell & Reed Financial Inc. now owns 594,457 shares of the specialty retailer’s stock worth $162,626,000 after purchasing an additional 119,235 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Shares of ORLY stock opened at $331.45 on Friday. The company has a debt-to-equity ratio of 6.37, a current ratio of 0.91 and a quick ratio of 0.11. The company has a market cap of $27.27 billion, a P/E ratio of 22.26, a P/E/G ratio of 1.35 and a beta of 1.10. O’Reilly Automotive Inc has a twelve month low of $217.64 and a twelve month high of $363.20.

O’Reilly Automotive (NASDAQ:ORLY) last announced its quarterly earnings results on Wednesday, October 24th. The specialty retailer reported $4.50 earnings per share for the quarter, beating the consensus estimate of $4.31 by $0.19. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.49 billion. O’Reilly Automotive had a return on equity of 259.86% and a net margin of 14.09%. As a group, equities analysts predict that O’Reilly Automotive Inc will post 16.1 earnings per share for the current year.

O’Reilly Automotive declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the specialty retailer to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

ORLY has been the subject of a number of research reports. BidaskClub raised O’Reilly Automotive from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 21st. Zacks Investment Research raised O’Reilly Automotive from a “hold” rating to a “buy” rating and set a $388.00 target price for the company in a report on Wednesday. Bank of America reaffirmed a “top pick” rating and set a $390.00 target price (up previously from $330.00) on shares of O’Reilly Automotive in a report on Monday, September 17th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $345.00 target price on shares of O’Reilly Automotive in a report on Wednesday, October 24th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $343.94.

In related news, SVP Jeffrey Alan Lauro sold 12,526 shares of O’Reilly Automotive stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $351.06, for a total transaction of $4,397,377.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.12% of the stock is currently owned by company insiders.

TRADEMARK VIOLATION WARNING: “Highbridge Capital Management LLC Invests $1.68 Million in O’Reilly Automotive Inc (ORLY) Stock” was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://www.americanbankingnews.com/2018/12/08/highbridge-capital-management-llc-invests-1-68-million-in-oreilly-automotive-inc-orly-stock.html.

O’Reilly Automotive Profile

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

Recommended Story: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for O`Reilly Automotive (NASDAQ:ORLY)

Receive News & Ratings for O'Reilly Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for O'Reilly Automotive and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply