Monro Muffler Brake (NASDAQ:MNRO) Major Shareholder Purchases $7,464,025.80 in Stock

Monro Muffler Brake, Inc. (NASDAQ:MNRO) major shareholder Carl Icahn bought 428,967 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was bought at an average price of $17.40 per share, with a total value of $7,464,025.80. Following the completion of the transaction, the insider directly owned 4,977,151 shares of the company’s stock, valued at $86,602,427.40. This represents a 9.43% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large 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

MNRO stock traded up $0.08 during mid-day trading on Friday, hitting $17.51. 1,116,697 shares of the stock were exchanged, compared to its average volume of 938,918. The business has a fifty day moving average price of $17.40 and a 200 day moving average price of $15.83. Monro Muffler Brake, Inc. has a 12 month low of $12.19 and a 12 month high of $30.18. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.48 and a quick ratio of 0.16. The stock has a market capitalization of $525.65 million, a price-to-earnings ratio of -26.13, a PEG ratio of 1.67 and a beta of 1.09.

Monro Muffler Brake (NASDAQ:MNRO) last announced its quarterly earnings data on Wednesday, October 29th. The auto parts company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The company had revenue of $288.91 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.17 EPS. On average, sell-side analysts anticipate that Monro Muffler Brake, Inc. will post 0.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in shares of Monro Muffler Brake by 1.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,741,498 shares of the auto parts company’s stock worth $39,670,000 after buying an additional 39,248 shares during the period. Nomura Holdings Inc. grew its holdings in Monro Muffler Brake by 62.8% in the first quarter. Nomura Holdings Inc. now owns 1,681,250 shares of the auto parts company’s stock worth $24,328,000 after purchasing an additional 648,269 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Monro Muffler Brake by 20.5% during the first quarter. Gamco Investors INC. ET AL now owns 822,515 shares of the auto parts company’s stock valued at $11,902,000 after purchasing an additional 139,730 shares in the last quarter. Clearline Capital LP bought a new position in shares of Monro Muffler Brake during the first quarter valued at approximately $11,810,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Monro Muffler Brake by 11.1% during the first quarter. Goldman Sachs Group Inc. now owns 688,075 shares of the auto parts company’s stock valued at $9,956,000 after purchasing an additional 68,862 shares during the last quarter.

Analyst Upgrades and Downgrades

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

About Monro Muffler Brake

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.