Invenomic Capital Management LP Sells 65,146 Shares of Monro, Inc. (NASDAQ:MNRO)

Invenomic Capital Management LP lowered its stake in Monro, Inc. (NASDAQ:MNRO) by 12.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 445,977 shares of the auto parts company’s stock after selling 65,146 shares during the quarter. Invenomic Capital Management LP owned about 1.49% of Monro worth $12,871,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Millennium Management LLC increased its stake in Monro by 3,587.8% in the second quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock valued at $27,181,000 after acquiring an additional 1,108,292 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Monro by 78.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 254,900 shares of the auto parts company’s stock valued at $6,082,000 after purchasing an additional 112,400 shares during the period. Maverick Capital Ltd. raised its position in Monro by 720.3% in the 2nd quarter. Maverick Capital Ltd. now owns 121,354 shares of the auto parts company’s stock worth $2,896,000 after purchasing an additional 106,560 shares during the period. Landscape Capital Management L.L.C. increased its position in shares of Monro by 434.7% in the third quarter. Landscape Capital Management L.L.C. now owns 104,550 shares of the auto parts company’s stock valued at $3,017,000 after acquiring an additional 84,996 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in Monro by 100.9% during the third quarter. GSA Capital Partners LLP now owns 126,432 shares of the auto parts company’s stock worth $3,649,000 after acquiring an additional 63,506 shares in the last quarter.

Monro Stock Up 0.8 %

MNRO stock opened at $28.34 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.21 and a current ratio of 0.53. Monro, Inc. has a fifty-two week low of $21.00 and a fifty-two week high of $33.98. The company’s 50 day moving average price is $28.09 and its 200 day moving average price is $26.17. The firm has a market capitalization of $848.75 million, a price-to-earnings ratio of 32.57, a PEG ratio of 2.25 and a beta of 1.11.

Monro (NASDAQ:MNRO) last issued its earnings results on Wednesday, October 30th. The auto parts company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). The firm had revenue of $301.39 million for the quarter, compared to analysts’ expectations of $300.06 million. Monro had a return on equity of 4.77% and a net margin of 2.24%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, equities research analysts anticipate that Monro, Inc. will post 0.83 EPS for the current fiscal year.

Monro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.95%. Monro’s dividend payout ratio is currently 128.74%.

Analysts Set New Price Targets

Separately, Stephens started coverage on shares of Monro in a research report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 price objective for the company.

Monro 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.