Monro Muffler Brake, Inc. $MNRO Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lessened its stake in Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) by 72.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 333,000 shares of the auto parts company's stock after selling 860,289 shares during the period. Adage Capital Partners GP L.L.C. owned 1.11% of Monro Muffler Brake worth $4,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its position 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 in the last quarter. CWM LLC increased its position 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 in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Monro Muffler Brake in the first quarter valued at approximately $65,000. GAMMA Investing LLC increased its position 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 in the last quarter. Finally, Nisa Investment Advisors LLC increased its position 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 in the last quarter.

Analyst Ratings Changes

A number of analysts have recently commented on MNRO shares. Wall Street Zen upgraded Monro Muffler Brake from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Wells Fargo & Company decreased 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 note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Monro Muffler Brake presently has an average rating of "Moderate Buy" and a consensus target price of $17.33.

Monro Muffler Brake Trading Down 2.4%

MNRO stock traded down $0.44 during trading on Friday, reaching $17.39. 74,529 shares of the stock traded hands, compared to its average volume of 934,861. The business's 50 day moving average price is $15.98 and its 200-day moving average price is $15.39. The firm has a market capitalization of $521.18 million, a PE ratio of -25.97, a P/E/G ratio of 1.54 and a beta of 1.09. Monro Muffler Brake, Inc. has a 52-week low of $12.19 and a 52-week high of $30.18. 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 released its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. The business had revenue of $301.04 million for the quarter, compared to analysts' expectations 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 company's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, sell-side analysts forecast that Monro Muffler Brake, Inc. will post 0.63 earnings per share for the current year.

Monro Muffler Brake Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders 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 annualized dividend and a dividend yield of 6.4%. Monro Muffler Brake's dividend payout ratio is -167.16%.

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.