Insider Buying: Monro Muffler Brake (NASDAQ:MNRO) Major Shareholder Acquires $1,772,856.56 in Stock

Monro Muffler Brake, Inc. (NASDAQ:MNRO) major shareholder Carl Icahn acquired 101,422 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were acquired at an average price of $17.48 per share, for a total transaction of $1,772,856.56. Following the acquisition, the insider directly owned 5,078,573 shares of the company’s stock, valued at approximately $88,773,456.04. The trade was a 2.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Monro Muffler Brake Stock Performance

Monro Muffler Brake stock opened at $17.51 on Monday. The stock has a fifty day moving average price of $17.40 and a 200 day moving average price of $15.85. Monro Muffler Brake, Inc. has a 52 week low of $12.19 and a 52 week high of $30.18. The firm has a market capitalization of $525.65 million, a P/E ratio of -26.13, a PEG ratio of 1.67 and a beta of 1.09. The company has a current ratio of 0.48, a quick ratio of 0.16 and a debt-to-equity ratio of 0.44.

Monro Muffler Brake (NASDAQ:MNRO) last posted its quarterly earnings results on Wednesday, October 29th. The auto parts company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. Monro Muffler Brake had a positive return on equity of 2.77% and a negative net margin of 1.60%.The company had revenue of $288.91 million during the quarter, compared to analysts’ expectations of $299.04 million. During the same quarter in the previous year, the business earned $0.17 EPS. The firm’s revenue was down 4.1% on a year-over-year basis. Equities research analysts anticipate that Monro Muffler Brake, Inc. will post 0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Monro Muffler Brake from $18.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Wall Street Zen downgraded Monro Muffler Brake from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Monro Muffler Brake in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $17.67.

Institutional Investors Weigh In On Monro Muffler Brake

A number of large investors have recently modified their holdings of MNRO. GSA Capital Partners LLP acquired a new stake in Monro Muffler Brake during the 1st quarter valued at $629,000. XTX Topco Ltd acquired a new position in Monro Muffler Brake in the first quarter valued at approximately $993,000. Nomura Holdings Inc. boosted its stake in Monro Muffler Brake by 62.8% in the first quarter. Nomura Holdings Inc. now owns 1,681,250 shares of the auto parts company’s stock valued at $24,328,000 after acquiring an additional 648,269 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Monro Muffler Brake by 2.7% during the first quarter. Principal Financial Group Inc. now owns 149,133 shares of the auto parts company’s stock valued at $2,158,000 after purchasing an additional 3,911 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Monro Muffler Brake by 9.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 373,384 shares of the auto parts company’s stock worth $5,403,000 after purchasing an additional 32,666 shares during the period.

About Monro Muffler Brake

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.