Insider Buying: Monro Muffler Brake (NASDAQ:MNRO) Major Shareholder Purchases 639,473 Shares of Stock

Monro Muffler Brake, Inc. (NASDAQ:MNRO) major shareholder Carl Icahn bought 639,473 shares of the stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average price of $15.19 per share, with a total value of $9,713,594.87. Following the completion of the purchase, the insider directly owned 4,439,914 shares of the company’s stock, valued at approximately $67,442,293.66. This represents a 16.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Monro Muffler Brake Stock Up 16.1%

Shares of Monro Muffler Brake stock traded up $2.46 during trading hours on Wednesday, hitting $17.73. 671,554 shares of the company’s stock traded hands, compared to its average volume of 927,102. The stock has a 50 day simple moving average of $17.37 and a 200-day simple moving average of $15.78. The company has a quick ratio of 0.16, a current ratio of 0.48 and a debt-to-equity ratio of 0.44. The company has a market cap of $532.25 million, a PE ratio of -26.51, a PEG ratio of 1.67 and a beta of 1.09. Monro Muffler Brake, Inc. has a twelve month low of $12.19 and a twelve month high of $30.18.

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, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $288.91 million during the quarter, compared to the consensus estimate of $299.04 million. Monro Muffler Brake had a positive return on equity of 2.77% and a negative net margin of 1.60%.The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.17 earnings per share. Equities research analysts anticipate that Monro Muffler Brake, Inc. will post 0.63 earnings per share for the current fiscal year.

Institutional Trading of Monro Muffler Brake

Several hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its stake in Monro Muffler Brake by 2.7% in 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 acquiring an additional 3,911 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Monro Muffler Brake by 640.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 8,180 shares of the auto parts company’s stock valued at $118,000 after acquiring an additional 7,076 shares in the last quarter. New York State Common Retirement Fund lifted its position in Monro Muffler Brake by 13.3% in the 1st quarter. New York State Common Retirement Fund now owns 10,253 shares of the auto parts company’s stock valued at $148,000 after acquiring an additional 1,203 shares in the last quarter. CWM LLC increased its stake in Monro Muffler Brake by 132.3% in the 1st quarter. CWM LLC now owns 3,067 shares of the auto parts company’s stock valued at $44,000 after buying an additional 1,747 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in Monro Muffler Brake by 142.9% in the 1st quarter. Bleakley Financial Group LLC now owns 24,138 shares of the auto parts company’s stock valued at $349,000 after buying an additional 14,199 shares during the last quarter.

Analysts Set New Price Targets

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

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.