Adage Capital Partners GP L.L.C. Trims Holdings in Monro Muffler Brake, Inc. $MNRO

Adage Capital Partners GP L.L.C. decreased its stake in shares of Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) by 72.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 333,000 shares of the auto parts company's stock after selling 860,289 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 1.11% of Monro Muffler Brake worth $4,819,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Monro Muffler Brake by 964.8% in the 1st quarter. Versant Capital Management Inc now owns 1,938 shares of the auto parts company's stock worth $28,000 after purchasing an additional 1,756 shares during the last quarter. CWM LLC increased its position in shares of Monro Muffler Brake by 132.3% during the first quarter. CWM LLC now owns 3,067 shares of the auto parts company's stock valued at $44,000 after acquiring an additional 1,747 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Monro Muffler Brake in the first quarter worth $65,000. GAMMA Investing LLC boosted its position in shares of Monro Muffler Brake by 1,276.7% during 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 last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Monro Muffler Brake by 640.9% in 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 in the last quarter.

Monro Muffler Brake Stock Performance

Shares of NASDAQ:MNRO traded up $0.06 during trading on Wednesday, hitting $16.91. The company's stock had a trading volume of 1,006,503 shares, compared to its average volume of 940,399. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.50 and a quick ratio of 0.16. The firm has a market cap of $506.96 million, a price-to-earnings ratio of -25.24, a P/E/G ratio of 1.60 and a beta of 1.09. The company has a 50-day moving average of $15.95 and a 200-day moving average of $15.39. Monro Muffler Brake, Inc. has a 12 month low of $12.19 and a 12 month high of $30.18.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last announced its 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. The business had revenue of $301.04 million during the quarter, compared to analysts' expectations of $295.05 million. Monro Muffler Brake had a negative net margin of 1.59% and a positive return on equity of 2.49%. The firm's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 earnings per share. On average, sell-side analysts expect that Monro Muffler Brake, Inc. will post 0.63 earnings per share for the current year.

Monro Muffler Brake Announces Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on MNRO. Wells Fargo & Company lowered their target price on shares of Monro Muffler Brake from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of Monro Muffler Brake from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Monro Muffler Brake has an average rating of "Moderate Buy" and a consensus price target of $17.33.

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.