Here’s Why O’Reilly Automotive (ORLY) Rose in Q4

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was – 14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like O’Reilly Automotive, Inc. (NASDAQ:ORLY) in the fourth quarter 2023 investor letter. Headquartered in Springfield, Missouri, O’Reilly Automotive, Inc. (NASDAQ:ORLY) is an automotive parts, tools, and supplies retailer.  On March 27, 2024, O’Reilly Automotive, Inc. (NASDAQ:ORLY) stock closed at $1,135.52 per share. One-month return of O’Reilly Automotive, Inc. (NASDAQ:ORLY) was 3.89%, and its shares gained 36.47% of their value over the last 52 weeks. O’Reilly Automotive, Inc. (NASDAQ:ORLY) has a market capitalization of $67.037 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding O’Reilly Automotive, Inc. (NASDAQ:ORLY) in its fourth quarter 2023 investor letter:

“O’Reilly Automotive, Inc. (NASDAQ:ORLY) is a specialty retailer of after-market automotive parts and accessories. Third quarter same store sales comparisons exceeded Street projections, with continued outperformance from its professional mechanics segment and steady growth in the do-it-yourself business. Gross margin improvements have come from lower product costs and supply chain efficiencies. Its 5% return was shy of the index sector average return of 18%.”

Best Auto Components and Parts Stocks to Buy Now

A mechanic working on a car in an auto shop, skillfully replacing the aftermarket parts.

O’Reilly Automotive, Inc. (NASDAQ:ORLY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, O’Reilly Automotive, Inc. (NASDAQ:ORLY) was held by 52 hedge fund portfolios, compared to 45 in the previous quarter, according to our database.

We discussed O’Reilly Automotive, Inc. (NASDAQ:ORLY) in another article and shared the list of biggest retail companies in the US. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.