Monro, Inc. (NASDAQ:MNRO) Short Interest Update

Monro, Inc. (NASDAQ:MNRO) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 4,130,000 shares, a decrease of 15.0% from the March 31st total of 4,860,000 shares. Based on an average daily trading volume, of 964,100 shares, the days-to-cover ratio is currently 4.3 days. Currently, 14.3% of the company’s stock are sold short.

Analyst Ratings Changes

A number of brokerages have weighed in on MNRO. Stephens raised Monro from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $21.00 to $18.00 in a research report on Friday, April 4th. Wedbush reduced their target price on Monro from $27.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Finally, Wells Fargo & Company lowered their price target on Monro from $20.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th.

Monro Stock Up 0.6 %

MNRO stock opened at $14.23 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.54 and a quick ratio of 0.19. The company has a 50-day moving average of $15.58 and a two-hundred day moving average of $21.49. The stock has a market capitalization of $426.17 million, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09. Monro has a 52-week low of $13.50 and a 52-week high of $31.49.

Monro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.87%. The ex-dividend date was Tuesday, February 25th. Monro’s dividend payout ratio (DPR) is currently 175.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its position in Monro by 3.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,702,250 shares of the auto parts company’s stock worth $67,016,000 after acquiring an additional 85,378 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Monro by 18.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,611,200 shares of the auto parts company’s stock worth $39,957,000 after purchasing an additional 253,518 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Monro by 34.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,193,289 shares of the auto parts company’s stock valued at $29,594,000 after buying an additional 302,515 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Monro in the fourth quarter valued at about $28,899,000. Finally, William Blair Investment Management LLC grew its position in Monro by 2.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,121,027 shares of the auto parts company’s stock worth $27,801,000 after buying an additional 23,184 shares in the last quarter.

About Monro

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.