Anthony Brenner and Pivot Point Capital’s Stock Picks

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5. Monro Muffler Brake Inc (NASDAQ:MNRO)

Monro Muffler Brake Inc (NASDAQ:MNRO) is another company added to Pivot Point’s equity portfolio during the fourth quarter of 2016. Between April and June, the investor almost quadrupled its position to 223,600 shares worth $9.33 million. The stock of the provider of undercar repair and tire services is down by over 22% so far, this year, amid increasing concerns that Amazon.com, Inc. (NASDAQ:AMZN) might be increasing its presence in the tire market. The eCommerce giant has struck deals with several auto parts makers earlier this year. Earlier this year, Stephens downgraded Monro Muffler Brake Inc (NASDAQ:MNRO) to ‘Equal Weight’ from ‘Overweight’ after having issued a note that the involvement of Amazon in the tire market could affect Monro’s financials. Tires account for nearly a half of Monro Muffler Brake Inc (NASDAQ:MNRO)’s sales.

Disclosure: none

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