Monro Muffler Brake (NASDAQ:MNRO) Major Shareholder Carl Icahn Buys 108,270 Shares

Monro Muffler Brake, Inc. (NASDAQ:MNRO) major shareholder Carl Icahn bought 108,270 shares of Monro Muffler Brake stock in a transaction on Wednesday, November 5th. The stock was acquired at an average cost of $17.23 per share, for a total transaction of $1,865,492.10. Following the acquisition, the insider owned 4,548,184 shares in the company, valued at approximately $78,365,210.32. This represents a 2.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Monro Muffler Brake Price Performance

Shares of Monro Muffler Brake stock traded up $0.08 during trading on Friday, reaching $17.51. 1,116,697 shares of the company’s stock were exchanged, 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. Monro Muffler Brake, Inc. has a 1-year low of $12.19 and a 1-year high of $30.18. The company has a market cap of $525.65 million, a P/E ratio of -26.13, a PEG ratio of 1.67 and a beta of 1.09. The firm’s 50-day moving average price is $17.40 and its 200 day moving average price is $15.83.

Monro Muffler Brake (NASDAQ:MNRO) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $299.04 million. Monro Muffler Brake had a positive return on equity of 2.77% and a negative net margin of 1.60%.Monro Muffler Brake’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. As a group, research analysts anticipate that Monro Muffler Brake, Inc. will post 0.63 earnings per share for the current year.

Analysts Set New Price Targets

MNRO has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Monro Muffler Brake from $18.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Wall Street Zen cut shares of Monro Muffler Brake from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Monro Muffler Brake in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.67.

Hedge Funds Weigh In On Monro Muffler Brake

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

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.