Invenomic Capital Management LP Purchases New Holdings in Monro, Inc. (NASDAQ:MNRO)

Invenomic Capital Management LP purchased a new stake in Monro, Inc. (NASDAQ:MNRO) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 137,868 shares of the auto parts company’s stock, valued at approximately $4,348,000. Invenomic Capital Management LP owned 0.46% of Monro at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MNRO. Brown Advisory Inc. boosted its stake in shares of Monro by 519.4% in the fourth quarter. Brown Advisory Inc. now owns 349,124 shares of the auto parts company’s stock valued at $10,243,000 after buying an additional 292,762 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Monro by 24.1% in the 1st quarter. William Blair Investment Management LLC now owns 1,008,786 shares of the auto parts company’s stock valued at $31,817,000 after purchasing an additional 195,955 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of Monro in the 1st quarter valued at $4,494,000. Cerity Partners LLC acquired a new stake in shares of Monro in the 4th quarter valued at $2,420,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Monro in the 1st quarter valued at $2,406,000.

Monro Price Performance

Shares of MNRO stock traded up $0.54 during trading hours on Tuesday, reaching $26.05. The company’s stock had a trading volume of 682,756 shares, compared to its average volume of 535,477. The firm’s 50 day simple moving average is $23.93 and its 200-day simple moving average is $28.02. The company has a market capitalization of $779.42 million, a price-to-earnings ratio of 21.74, a PEG ratio of 2.45 and a beta of 1.12. Monro, Inc. has a fifty-two week low of $21.00 and a fifty-two week high of $37.22. The company has a quick ratio of 0.22, a current ratio of 0.56 and a debt-to-equity ratio of 0.54.

Monro (NASDAQ:MNRO) last issued its earnings results on Thursday, May 23rd. The auto parts company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.13). The business had revenue of $310.08 million during the quarter, compared to analyst estimates of $320.16 million. Monro had a net margin of 2.94% and a return on equity of 6.25%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 EPS. Sell-side analysts forecast that Monro, Inc. will post 0.71 earnings per share for the current year.

Monro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Tuesday, June 4th. Monro’s dividend payout ratio is presently 94.92%.

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.