Monro Muffler Brake (NASDAQ:MNRO) Major Shareholder Acquires $1,865,492.10 in Stock

Monro Muffler Brake, Inc. (NASDAQ:MNRO) major shareholder Carl Icahn bought 108,270 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average price of $17.23 per share, for a total transaction of $1,865,492.10. Following the acquisition, the insider directly owned 4,548,184 shares of the company’s stock, valued at $78,365,210.32. This represents a 2.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Monro Muffler Brake Stock Up 0.5%

NASDAQ MNRO traded up $0.08 during trading hours on Friday, hitting $17.51. 1,116,697 shares of the company traded hands, compared to its average volume of 938,918. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.16 and a current ratio of 0.48. The business’s 50-day moving average is $17.40 and its 200-day moving average is $15.83. The stock has a market capitalization of $525.65 million, a price-to-earnings ratio of -26.13, a P/E/G ratio of 1.67 and a beta of 1.09. Monro Muffler Brake, Inc. has a twelve month low of $12.19 and a twelve month high of $30.18.

Monro Muffler Brake (NASDAQ:MNRO) last released its earnings results on Wednesday, October 29th. The auto parts company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The business had revenue of $288.91 million during the quarter, compared to analysts’ expectations of $299.04 million. Monro Muffler Brake had a negative net margin of 1.60% and a positive return on equity of 2.77%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the business earned $0.17 earnings per share. Sell-side analysts anticipate that Monro Muffler Brake, Inc. will post 0.63 earnings per share for the current year.

Institutional Trading of Monro Muffler Brake

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Monro Muffler Brake by 453.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,601 shares of the auto parts company’s stock valued at $39,000 after acquiring an additional 2,131 shares during the period. CWM LLC raised its stake in Monro Muffler Brake by 132.3% in the first quarter. CWM LLC now owns 3,067 shares of the auto parts company’s stock valued at $44,000 after purchasing an additional 1,747 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Monro Muffler Brake in the first quarter valued at about $65,000. Nisa Investment Advisors LLC lifted its position in Monro Muffler Brake by 640.9% during the first quarter. Nisa Investment Advisors LLC now owns 8,180 shares of the auto parts company’s stock worth $118,000 after purchasing an additional 7,076 shares during the period. Finally, New York State Common Retirement Fund grew its stake in Monro Muffler Brake by 13.3% during the first quarter. New York State Common Retirement Fund now owns 10,253 shares of the auto parts company’s stock worth $148,000 after buying an additional 1,203 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on MNRO. Weiss Ratings restated a “sell (d)” rating on shares of Monro Muffler Brake in a research note on Wednesday, October 8th. Wall Street Zen cut Monro Muffler Brake from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Wells Fargo & Company lowered their price target on Monro Muffler Brake from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Monro Muffler Brake currently has a consensus rating of “Hold” and a consensus target price of $17.67.

Monro Muffler Brake Company Profile

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services, automotive undercar repair services, and routine maintenance services primarily to passenger cars, light trucks, and vans. The company also provides other products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.