Bridgeway Capital Management LLC Sells 17,536 Shares of Monro Muffler Brake, Inc. $MNRO

Key Points

• Bridgeway Capital Management LLC has reduced its stake in Monro Muffler Brake by 7.7%, now owning approximately 0.70% of the company, valued at $3,055,000.
• Several institutional investors have either increased or initiated their positions in Monro Muffler Brake during the first quarter, including Maverick Capital Ltd. and Nomura Holdings Inc..
• While Monro Muffler Brake received upgrades from analysts with a consensus rating of "Moderate Buy," Wells Fargo has lowered its price target from $16.00 to $15.00.

Bridgeway Capital Management LLC cut its stake in Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) by 7.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,135 shares of the auto parts company's stock after selling 17,536 shares during the period. Bridgeway Capital Management LLC owned approximately 0.70% of Monro Muffler Brake worth $3,055,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Maverick Capital Ltd. acquired a new stake in shares of Monro Muffler Brake during the 1st quarter worth approximately $4,379,000. Royal Bank of Canada boosted its position in shares of Monro Muffler Brake by 139.8% during the 1st quarter. Royal Bank of Canada now owns 27,904 shares of the auto parts company's stock worth $404,000 after acquiring an additional 16,268 shares in the last quarter. Caption Management LLC acquired a new stake in shares of Monro Muffler Brake during the 1st quarter worth approximately $1,358,000. Nomura Holdings Inc. boosted its position in shares of Monro Muffler Brake by 62.8% during the 1st quarter. Nomura Holdings Inc. now owns 1,681,250 shares of the auto parts company's stock worth $24,328,000 after acquiring an additional 648,269 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Monro Muffler Brake during the 1st quarter worth approximately $3,230,000.

Analyst Upgrades and Downgrades

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

Monro Muffler Brake Trading Up 0.5%

MNRO traded up $0.08 during midday trading on Wednesday, hitting $16.93. 487,644 shares of the company were exchanged, compared to its average volume of 936,721. The firm's 50 day moving average price is $15.95 and its 200-day moving average price is $15.39. Monro Muffler Brake, Inc. has a 1-year low of $12.19 and a 1-year high of $30.18. The firm has a market capitalization of $507.59 million, a P/E ratio of -25.19, a P/E/G ratio of 1.60 and a beta of 1.09. The company has a quick ratio of 0.16, a current ratio of 0.50 and a debt-to-equity ratio of 0.47.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. Monro Muffler Brake had a negative net margin of 1.59% and a positive return on equity of 2.49%. The firm had revenue of $301.04 million during the quarter, compared to analyst estimates of $295.05 million. During the same quarter last year, the business earned $0.22 EPS. The company's revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Monro Muffler Brake, Inc. will post 0.63 EPS for the current fiscal year.

Monro Muffler Brake Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were paid 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 yield of 6.6%. Monro Muffler Brake's dividend payout ratio (DPR) is currently -167.16%.

Monro Muffler Brake 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.