Clearline Capital LP Acquires Shares of 816,205 Monro Muffler Brake, Inc. $MNRO

Key Points

• Clearline Capital LP acquired 816,205 shares of Monro Muffler Brake, Inc. valued at approximately $11.81 million, representing about 2.73% ownership of the company.
• Monro Muffler Brake reported a quarterly earnings per share (EPS) of $0.22, surpassing analyst expectations of $0.17, with a revenue increase of 2.7% year-over-year.
• The company declared a quarterly dividend of $0.28 per share, resulting in an annualized yield of 6.3%, with a payout ratio of -167.16%.

Clearline Capital LP acquired a new stake in Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 816,205 shares of the auto parts company's stock, valued at approximately $11,810,000. Clearline Capital LP owned about 2.73% of Monro Muffler Brake as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in Monro Muffler Brake by 11.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 688,075 shares of the auto parts company's stock valued at $9,956,000 after acquiring an additional 68,862 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Monro Muffler Brake in the 1st quarter valued at $559,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Monro Muffler Brake by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,775 shares of the auto parts company's stock worth $257,000 after buying an additional 780 shares in the last quarter. Invenomic Capital Management LP grew its position in shares of Monro Muffler Brake by 27.4% during the 1st quarter. Invenomic Capital Management LP now owns 610,784 shares of the auto parts company's stock worth $8,838,000 after buying an additional 131,357 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new position in shares of Monro Muffler Brake during the 1st quarter worth $4,379,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on Monro Muffler Brake from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. Wall Street Zen raised Monro Muffler Brake from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.33.

Monro Muffler Brake Stock Down 2.9%

Monro Muffler Brake stock traded down $0.51 during midday trading on Friday, reaching $17.31. The company's stock had a trading volume of 488,772 shares, compared to its average volume of 873,264. The stock's 50-day simple moving average is $16.00 and its 200-day simple moving average is $15.38. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.50 and a quick ratio of 0.16. Monro Muffler Brake, Inc. has a 52-week low of $12.19 and a 52-week high of $30.18. The stock has a market capitalization of $518.95 million, a P/E ratio of -25.84, a PEG ratio of 1.63 and a beta of 1.09.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. Monro Muffler Brake had a positive return on equity of 2.49% and a negative net margin of 1.59%.The company had revenue of $301.04 million during the quarter, compared to analysts' expectations of $295.05 million. During the same period last year, the business posted $0.22 earnings per share. The firm's revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that Monro Muffler Brake, Inc. will post 0.63 EPS for the current year.

Monro Muffler Brake Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.5%. The ex-dividend date was Tuesday, August 26th. Monro Muffler Brake's dividend payout ratio (DPR) is presently -167.16%.

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.