Boothbay Fund Management LLC Has $2.39 Million Stock Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

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

A number of other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in Driven Brands by 600.5% in the fourth quarter. Blue Trust Inc. now owns 9,198 shares of the company's stock worth $148,000 after purchasing an additional 7,885 shares during the period. LPL Financial LLC bought a new stake in shares of Driven Brands in the 4th quarter worth $178,000. SBI Securities Co. Ltd. acquired a new stake in shares of Driven Brands in the fourth quarter valued at $215,000. KLP Kapitalforvaltning AS bought a new position in Driven Brands during the fourth quarter valued at about $216,000. Finally, SG Americas Securities LLC grew its holdings in Driven Brands by 47.2% during the fourth quarter. SG Americas Securities LLC now owns 13,720 shares of the company's stock worth $221,000 after acquiring an additional 4,399 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Stock Up 2.3 %

Shares of DRVN traded up $0.39 during trading hours on Friday, reaching $17.13. The company's stock had a trading volume of 949,170 shares, compared to its average volume of 828,579. The company has a 50 day moving average of $16.57 and a two-hundred day moving average of $16.20. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 428.25, a P/E/G ratio of 0.79 and a beta of 1.09. Driven Brands Holdings Inc. has a 1-year low of $10.64 and a 1-year high of $18.01.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DRVN shares. Canaccord Genuity Group raised their price objective on shares of Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Piper Sandler increased their price objective on Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their target price on Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. BMO Capital Markets increased their price target on Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Finally, Robert W. Baird set a $25.00 price objective on Driven Brands in a report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Driven Brands currently has an average rating of "Moderate Buy" and a consensus price target of $20.50.

About Driven Brands

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.