Bank of Nova Scotia Sells 12,478 Shares of O'Reilly Automotive, Inc. (NASDAQ:ORLY)

Key Points

• Bank of Nova Scotia reduced its stake in O'Reilly Automotive by 66.7%, selling 12,478 shares and leaving it with 6,236 shares valued at approximately $8.93 million as per its latest SEC filing.
• Several institutional investors, including Bank of Jackson Hole Trust and HWG Holdings LP, have initiated new positions in O'Reilly Automotive, contributing to an overall institutional ownership of 85%.
• In terms of stock performance, O'Reilly Automotive opened at $101.37 with a 52-week range of $73.11 to $101.74, and it recently reported earnings per share of $0.78, meeting expectations.

Bank of Nova Scotia lessened its stake in shares of O'Reilly Automotive, Inc. (NASDAQ:ORLY - Free Report) by 66.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,236 shares of the specialty retailer's stock after selling 12,478 shares during the period. Bank of Nova Scotia's holdings in O'Reilly Automotive were worth $8,934,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of ORLY. Bank of Jackson Hole Trust bought a new stake in O'Reilly Automotive during the first quarter worth about $25,000. HWG Holdings LP acquired a new stake in shares of O'Reilly Automotive in the first quarter valued at approximately $26,000. HighMark Wealth Management LLC lifted its position in shares of O'Reilly Automotive by 185.7% in the first quarter. HighMark Wealth Management LLC now owns 20 shares of the specialty retailer's stock valued at $29,000 after buying an additional 13 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of O'Reilly Automotive in the fourth quarter valued at approximately $37,000. Finally, Piscataqua Savings Bank acquired a new stake in shares of O'Reilly Automotive in the first quarter valued at approximately $43,000. Institutional investors own 85.00% of the company's stock.

Insider Buying and Selling at O'Reilly Automotive

In other news, Director John Raymond Murphy sold 3,000 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $91.93, for a total transaction of $275,800.00. Following the completion of the transaction, the director owned 4,560 shares of the company's stock, valued at approximately $419,216. This trade represents a 39.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Najera Jose A. Montellano sold 285 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $90.13, for a total transaction of $25,686.29. The disclosure for this sale can be found here. Insiders sold a total of 67,840 shares of company stock worth $6,421,556 over the last ninety days. Insiders own 1.01% of the company's stock.

O'Reilly Automotive Stock Performance

ORLY stock opened at $101.37 on Tuesday. The company has a fifty day moving average price of $92.17 and a 200-day moving average price of $90.67. The company has a market capitalization of $86.66 billion, a P/E ratio of 36.24, a PEG ratio of 2.63 and a beta of 0.56. O'Reilly Automotive, Inc. has a 52-week low of $73.11 and a 52-week high of $101.74.

O'Reilly Automotive (NASDAQ:ORLY - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.54 billion. O'Reilly Automotive had a net margin of 14.15% and a negative return on equity of 181.53%. The company's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $10.55 earnings per share. As a group, sell-side analysts forecast that O'Reilly Automotive, Inc. will post 43.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on ORLY. JPMorgan Chase & Co. raised their price objective on O'Reilly Automotive from $101.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Citigroup raised their price objective on O'Reilly Automotive from $104.00 to $114.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada raised their price objective on O'Reilly Automotive from $98.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Mizuho raised their price objective on O'Reilly Automotive from $93.33 to $96.33 and gave the company an "outperform" rating in a research report on Friday, April 25th. Finally, DA Davidson raised their price objective on O'Reilly Automotive from $107.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $102.22.

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.

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