Invenomic Capital Management LP Grows Stock Holdings in Monro Muffler Brake, Inc. $MNRO

Key Points

• Invenomic Capital Management LP has increased its position in Monro Muffler Brake, Inc. by 27.4%, owning 610,784 shares valued at approximately $8.84 million.
• Monro Muffler Brake reported earnings of $0.22 per share, beating expectations, with revenue of $301.04 million for the last quarter, reflecting a 2.7% year-over-year increase.
• The company declared a quarterly dividend of $0.28 per share, which results in an annualized yield of 6.5%.

Invenomic Capital Management LP raised its position in Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) by 27.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 610,784 shares of the auto parts company's stock after purchasing an additional 131,357 shares during the period. Invenomic Capital Management LP owned 2.04% of Monro Muffler Brake worth $8,838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Maverick Capital Ltd. purchased a new stake in shares of Monro Muffler Brake during the 1st quarter valued at $4,379,000. Royal Bank of Canada raised 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 valued at $404,000 after buying an additional 16,268 shares in the last quarter. Caption Management LLC purchased a new stake in shares of Monro Muffler Brake during the 1st quarter valued at $1,358,000. Nomura Holdings Inc. raised 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 valued at $24,328,000 after buying an additional 648,269 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Monro Muffler Brake during the 1st quarter valued at $3,230,000.

Analyst Upgrades and Downgrades

MNRO has been the topic of several research reports. Wells Fargo & Company lowered 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 report on Thursday, July 31st. 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. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.33.

Monro Muffler Brake Trading Down 0.6%

NASDAQ:MNRO traded down $0.10 during trading hours on Wednesday, reaching $16.75. The company's stock had a trading volume of 237,632 shares, compared to its average volume of 935,835. The firm has a market capitalization of $502.17 million, a price-to-earnings ratio of -24.98, a PEG ratio of 1.60 and a beta of 1.09. The firm has a 50-day simple moving average of $15.95 and a 200-day simple moving average of $15.39. Monro Muffler Brake, Inc. has a 1 year low of $12.19 and a 1 year high of $30.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.50.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The auto parts company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. The company had revenue of $301.04 million for 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. Research analysts expect that Monro Muffler Brake, Inc. will post 0.63 EPS for the current fiscal year.

Monro Muffler Brake Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were given a $0.28 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.7%. Monro Muffler Brake's payout ratio is presently -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.