Monro, Inc. (NASDAQ:MNRO) Short Interest Down 15.0% in April

Monro, Inc. (NASDAQ:MNRO - Get Free Report) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 4,130,000 shares, a decline of 15.0% from the March 31st total of 4,860,000 shares. Based on an average trading volume of 964,100 shares, the days-to-cover ratio is currently 4.3 days. Currently, 14.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Monro

Several hedge funds and other institutional investors have recently modified their holdings of MNRO. Versant Capital Management Inc grew its position in shares of Monro by 964.8% during the first quarter. Versant Capital Management Inc now owns 1,938 shares of the auto parts company's stock worth $28,000 after buying an additional 1,756 shares in the last quarter. CWM LLC grew its holdings in shares of Monro by 132.3% during the 1st quarter. CWM LLC now owns 3,067 shares of the auto parts company's stock worth $44,000 after purchasing an additional 1,747 shares during the period. Wealthfront Advisers LLC acquired a new stake in Monro in the fourth quarter valued at approximately $52,000. GAMMA Investing LLC grew its stake in shares of Monro 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 acquiring an additional 6,307 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Monro by 640.9% in the first 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 during the last quarter.

Monro Stock Performance

NASDAQ:MNRO traded up $0.09 during trading hours on Thursday, hitting $12.85. 360,661 shares of the company were exchanged, compared to its average volume of 682,275. Monro has a 52-week low of $12.51 and a 52-week high of $31.49. The company's 50 day moving average price is $15.29 and its 200-day moving average price is $21.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.54 and a quick ratio of 0.19. The stock has a market capitalization of $384.84 million, a price-to-earnings ratio of 20.08, a PEG ratio of 2.05 and a beta of 0.95.

Monro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 8.72%. Monro's dividend payout ratio (DPR) is 175.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wedbush reduced their target price on Monro from $27.00 to $19.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Stephens upgraded shares of Monro from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $21.00 to $18.00 in a report on Friday, April 4th. Finally, Wells Fargo & Company lowered their target price on shares of Monro from $20.00 to $15.00 and set an "equal weight" rating for the company in a report on Monday, April 28th.

About Monro

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.