Clearline Capital LP Purchases New Position in 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 purchased a new position in shares of Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 816,205 shares of the auto parts company's stock, valued at approximately $11,810,000. Clearline Capital LP owned 2.73% of Monro Muffler Brake at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MNRO. Versant Capital Management Inc raised its stake in shares of Monro Muffler Brake by 964.8% in the first quarter. Versant Capital Management Inc now owns 1,938 shares of the auto parts company's stock valued at $28,000 after buying an additional 1,756 shares during the period. CWM LLC raised its stake in shares of 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 buying an additional 1,747 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Monro Muffler Brake in the first quarter valued at $65,000. GAMMA Investing LLC raised its stake in shares of Monro Muffler Brake by 1,276.7% in the first quarter. GAMMA Investing LLC now owns 6,801 shares of the auto parts company's stock valued at $98,000 after buying an additional 6,307 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Monro Muffler Brake by 640.9% in the first quarter. Nisa Investment Advisors LLC now owns 8,180 shares of the auto parts company's stock valued at $118,000 after buying an additional 7,076 shares during the period.

Monro Muffler Brake Trading Up 0.4%

MNRO traded up $0.06 during midday trading on Wednesday, reaching $16.91. 1,006,503 shares of the company's stock traded hands, compared to its average volume of 859,881. 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 $506.96 million, a price-to-earnings ratio of -25.24, a P/E/G ratio of 1.54 and a beta of 1.09. The firm has a fifty day moving average of $15.95 and a two-hundred day moving average of $15.40. 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 (NASDAQ:MNRO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $301.04 million for the quarter, compared to the consensus estimate of $295.05 million. Monro Muffler Brake had a positive return on equity of 2.49% and a negative net margin of 1.59%.The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS. On average, equities analysts anticipate that Monro Muffler Brake, Inc. will post 0.63 earnings per share for the current fiscal year.

Monro Muffler Brake Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $1.12 dividend on an annualized basis and a yield of 6.6%. Monro Muffler Brake's dividend payout ratio (DPR) is currently -167.16%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company reduced their price target on Monro Muffler Brake from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Wall Street Zen upgraded Monro Muffler Brake from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.33.

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.