O’Reilly Automotive (ORLY) Increased on Raising Guidance

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” second-quarter investor letter. A copy of the same can be downloaded here. In the second quarter, the strategy outperformed the Russell Midcap Growth Index and returned 7.16% (gross) while the index return was 6.23%. Consumer Discretionary, Financials, and Consumer Staples sector showed relative weakness. However, the strength in Industrials, Information Technology, and Health Care sectors offset the setbacks. 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 highlighted stocks like O’Reilly Automotive, Inc. (NASDAQ:ORLY) in the second quarter 2023 investor letter. Headquartered in Springfield, Missouri, O’Reilly Automotive, Inc. (NASDAQ:ORLY) is an automotive parts, tools, and supplies retailer. On October 2, 2023, O’Reilly Automotive, Inc. (NASDAQ:ORLY) stock closed at $898.62 per share. One-month return of O’Reilly Automotive, Inc. (NASDAQ:ORLY) was -4.96%, and its shares gained 23.15% of their value over the last 52 weeks. O’Reilly Automotive, Inc. (NASDAQ:ORLY) has a market capitalization of $54.779 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy made the following comment about O’Reilly Automotive, Inc. (NASDAQ:ORLY) in its Q2 2023 investor letter:

“Shifting gears, there was a 13% contribution from the specialty retailer and supplier of auto parts, tools, supplies, and accessories, O’Reilly Automotive, Inc. (NASDAQ:ORLY). Recent revenues and earnings outpaced expectations while O’Reilly’s management raised its guidance for this year’s earnings.”

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O’Reilly Automotive, Inc. (NASDAQ:ORLY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held O’Reilly Automotive, Inc. (NASDAQ:ORLY) at the end of second quarter which was 52 in the previous quarter.

We discussed O’Reilly Automotive, Inc. (NASDAQ:ORLY) in another article and shared the list of best auto components and parts stocks to buy. In addition, please check out our hedge fund investor letters Q2 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.