Gamco Investors INC. ET AL Boosts Stake in Monro Muffler Brake, Inc. $MNRO

Key Points

• Gamco Investors INC. ET AL increased its stake in Monro Muffler Brake by 20.5% in the first quarter, owning 822,515 shares valued at approximately $11.90 million.
• Several institutional investors, including Versant Capital Management Inc. and GAMMA Investing LLC, significantly boosted their stakes in the company during the same period, showcasing increased interest in Monro Muffler Brake.
• The company recently reported a 0.22 EPS for the quarter, exceeding estimates, and announced a quarterly dividend of $0.28, reflecting a yield of 6.7%.

Gamco Investors INC. ET AL lifted its holdings in Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) by 20.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 822,515 shares of the auto parts company's stock after acquiring an additional 139,730 shares during the quarter. Gamco Investors INC. ET AL owned 2.75% of Monro Muffler Brake worth $11,902,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc increased 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 worth $28,000 after acquiring an additional 1,756 shares during the period. CWM LLC increased 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 worth $44,000 after acquiring an additional 1,747 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Monro Muffler Brake in the first quarter worth $65,000. Quarry LP increased its stake in shares of Monro Muffler Brake by 84.5% in the fourth quarter. Quarry LP now owns 4,918 shares of the auto parts company's stock worth $122,000 after acquiring an additional 2,252 shares during the period. Finally, GAMMA Investing LLC increased 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 worth $98,000 after acquiring an additional 6,307 shares during the period.

Monro Muffler Brake Stock Performance

MNRO stock traded down $0.43 during midday trading on Monday, hitting $16.58. 789,725 shares of the stock traded hands, compared to its average volume of 932,597. The firm has a market cap of $497.07 million, a P/E ratio of -24.75, a PEG ratio of 1.51 and a beta of 1.09. 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 stock's fifty day simple moving average is $15.61 and its 200-day simple moving average is $15.47. Monro Muffler Brake, Inc. has a 1-year low of $12.19 and a 1-year high of $30.18.

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 the consensus estimate of $0.17 by $0.05. The company had revenue of $301.04 million for the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.22 earnings per share. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Tuesday, August 26th. Monro Muffler Brake's dividend payout ratio (DPR) is presently -167.16%.

Wall Street Analyst Weigh In

MNRO has been the topic of a number of research reports. Wells Fargo & Company cut their price objective 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 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 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.