Convergence Financial LLC Takes $299,000 Position in O’Reilly Automotive, Inc. (NASDAQ:ORLY)

Convergence Financial LLC purchased a new stake in shares of O’Reilly Automotive, Inc. (NASDAQ:ORLY) in the 4th quarter, Holdings Channel reports. The fund purchased 252 shares of the specialty retailer’s stock, valued at approximately $299,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in O’Reilly Automotive by 73.0% during the third quarter. Wellington Management Group LLP now owns 1,725,316 shares of the specialty retailer’s stock worth $1,986,874,000 after buying an additional 728,040 shares during the period. Mizuho Securities USA LLC lifted its holdings in O’Reilly Automotive by 10,626.8% during the third quarter. Mizuho Securities USA LLC now owns 487,212 shares of the specialty retailer’s stock worth $5,393,000 after buying an additional 482,670 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in 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 buying an additional 133,139 shares during the period. Assenagon Asset Management S.A. lifted its holdings in O’Reilly Automotive by 32.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 102,128 shares of the specialty retailer’s stock worth $121,103,000 after buying an additional 25,091 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in O’Reilly Automotive by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,479,166 shares of the specialty retailer’s stock worth $1,700,513,000 after buying an additional 24,135 shares during the period. Institutional investors own 85.00% of the company’s stock.

Insiders Place Their Bets

In other news, Director Andrea Weiss sold 248 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $1,311.23, for a total transaction of $325,185.04. Following the sale, the director now directly owns 452 shares in the company, valued at $592,675.96. This trade represents a 35.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brad W. Beckham sold 833 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $1,300.00, for a total value of $1,082,900.00. Following the sale, the chief executive officer now owns 760 shares in the company, valued at $988,000. This trade represents a 52.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,894 shares of company stock valued at $10,409,618. Company insiders own 1.55% of the company’s stock.

O’Reilly Automotive Stock Performance

Shares of ORLY opened at $1,330.42 on Thursday. The business’s 50-day moving average is $1,258.72 and its two-hundred day moving average is $1,206.84. The company has a market capitalization of $76.81 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.34 and a beta of 0.94. O’Reilly Automotive, Inc. has a fifty-two week low of $947.49 and a fifty-two week high of $1,350.27.

O’Reilly Automotive (NASDAQ:ORLY) last announced its quarterly earnings results on Wednesday, February 5th. The specialty retailer reported $9.96 earnings per share for the quarter, topping the consensus estimate of $9.73 by $0.23. O’Reilly Automotive had a negative return on equity of 166.88% and a net margin of 14.28%. Analysts forecast that O’Reilly Automotive, Inc. will post 43.94 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on ORLY shares. UBS Group upped their target price on O’Reilly Automotive from $1,400.00 to $1,535.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Morgan Stanley upgraded O’Reilly Automotive from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $1,150.00 to $1,450.00 in a report on Tuesday, January 21st. Wedbush increased their price objective on O’Reilly Automotive from $1,200.00 to $1,350.00 and gave the company a “neutral” rating in a report on Thursday, February 6th. StockNews.com lowered O’Reilly Automotive from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company increased their price objective on O’Reilly Automotive from $1,325.00 to $1,425.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,390.81.

About O’Reilly Automotive

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.