Boothbay Fund Management LLC Sells 108,677 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Boothbay Fund Management LLC cut its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 42.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,124 shares of the company's stock after selling 108,677 shares during the period. Boothbay Fund Management LLC owned about 0.09% of Driven Brands worth $2,391,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. North Peak Capital Management LLC grew its stake in shares of Driven Brands by 8.6% during the fourth quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company's stock valued at $92,905,000 after acquiring an additional 457,217 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Driven Brands by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company's stock worth $92,134,000 after purchasing an additional 31,431 shares during the last quarter. Emeth Value Capital LLC bought a new position in shares of Driven Brands during the fourth quarter worth about $41,452,000. Dimensional Fund Advisors LP lifted its position in shares of Driven Brands by 54.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company's stock worth $19,141,000 after purchasing an additional 416,744 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Driven Brands by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 496,073 shares of the company's stock worth $8,007,000 after purchasing an additional 4,062 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DRVN has been the topic of several research analyst reports. Robert W. Baird set a $25.00 price target on shares of Driven Brands in a research report on Thursday, March 13th. Canaccord Genuity Group increased their price target on shares of Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. BMO Capital Markets increased their price target on shares of Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Benchmark began coverage on shares of Driven Brands in a report on Friday, April 4th. They issued a "buy" rating and a $22.00 target price on the stock. Finally, Piper Sandler upped their target price on Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $20.50.

Driven Brands Stock Performance

Shares of NASDAQ:DRVN traded up $0.22 on Thursday, hitting $16.74. The company's stock had a trading volume of 761,747 shares, compared to its average volume of 871,615. Driven Brands Holdings Inc. has a 12 month low of $10.59 and a 12 month high of $18.01. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 418.50, a price-to-earnings-growth ratio of 0.79 and a beta of 1.09. The stock's 50-day moving average is $16.51 and its two-hundred day moving average is $16.16. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.13. The company had revenue of $564.12 million during the quarter, compared to analysts' expectations of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. On average, equities research analysts forecast that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Driven Brands Profile

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.