Wrapmanager Inc. Decreases Stake in Monro Inc (NASDAQ:MNRO)

Wrapmanager Inc. lessened its stake in Monro Inc (NASDAQ:MNRO) by 9.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,572 shares of the auto parts company’s stock after selling 557 shares during the quarter. Wrapmanager Inc.’s holdings in Monro were worth $475,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. purchased a new position in shares of Monro in the 2nd quarter valued at about $32,000. Huntington National Bank lifted its stake in Monro by 55.5% during the first quarter. Huntington National Bank now owns 1,564 shares of the auto parts company’s stock worth $135,000 after purchasing an additional 558 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in Monro during the second quarter worth approximately $160,000. Strs Ohio lifted its stake in Monro by 78.6% during the second quarter. Strs Ohio now owns 2,500 shares of the auto parts company’s stock worth $213,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Monro during the first quarter worth approximately $218,000.

Several research firms recently weighed in on MNRO. Oppenheimer cut Monro from an “outperform” rating to a “market perform” rating and set a $86.00 target price for the company. in a research note on Thursday, July 11th. BMO Capital Markets began coverage on Monro in a research note on Friday, August 9th. They set a “market perform” rating and a $90.00 target price for the company. CL King restated a “hold” rating on shares of Monro in a research note on Wednesday, May 22nd. BidaskClub upgraded Monro from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Zacks Investment Research cut Monro from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. Nine equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $86.78.



MNRO stock traded down $1.78 during trading on Wednesday, hitting $79.10. 189,192 shares of the company’s stock were exchanged, compared to its average volume of 335,814. The firm has a market capitalization of $2.60 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 2.37 and a beta of 0.76. Monro Inc has a 52-week low of $60.78 and a 52-week high of $89.72. The firm’s 50-day moving average price is $83.07. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.93 and a quick ratio of 0.28.

Monro (NASDAQ:MNRO) last released its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.66 by $0.02. The company had revenue of $317.10 million for the quarter, compared to analyst estimates of $320.60 million. Monro had a return on equity of 12.01% and a net margin of 6.69%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, equities research analysts predict that Monro Inc will post 2.64 EPS for the current year.

In other Monro news, Director Donald Glickman sold 2,500 shares of Monro stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $86.14, for a total transaction of $215,350.00. Following the transaction, the director now owns 173,578 shares of the company’s stock, valued at $14,952,008.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Maureen Mulholland sold 500 shares of Monro stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $84.40, for a total value of $42,200.00. Following the transaction, the insider now directly owns 574 shares in the company, valued at approximately $48,445.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,500 shares of company stock worth $1,152,285. 4.40% of the stock is currently owned by corporate insiders.

Monro Company Profile

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. The company offers range of services on passenger cars, light trucks, and vans for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment. It also provides other products and services, including tires and routine maintenance services, including state inspections.

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Institutional Ownership by Quarter for Monro (NASDAQ:MNRO)

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