CastleKnight Management LP Buys 54,400 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

CastleKnight Management LP lifted its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 20.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 317,000 shares of the company's stock after purchasing an additional 54,400 shares during the period. CastleKnight Management LP owned 0.19% of Driven Brands worth $5,116,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DRVN. Blue Trust Inc. lifted its position in shares of Driven Brands by 600.5% in the fourth quarter. Blue Trust Inc. now owns 9,198 shares of the company's stock valued at $148,000 after acquiring an additional 7,885 shares in the last quarter. LPL Financial LLC purchased a new stake in Driven Brands during the fourth quarter worth $178,000. BNP Paribas Financial Markets acquired a new stake in Driven Brands during the 4th quarter worth $205,000. SBI Securities Co. Ltd. purchased a new stake in Driven Brands in the fourth quarter valued at $215,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Driven Brands in the 4th quarter valued at about $216,000. 77.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DRVN shares. Robert W. Baird set a $25.00 price target on shares of Driven Brands in a report on Thursday, March 13th. JPMorgan Chase & Co. boosted their target price on shares of Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. BMO Capital Markets boosted their price objective on shares of Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Piper Sandler lifted their target price on Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Benchmark assumed coverage on Driven Brands in a research note on Friday, April 4th. They issued a "buy" rating and a $22.00 price target for the company. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Driven Brands presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.50.

Driven Brands Trading Up 1.2 %

DRVN stock opened at $17.33 on Tuesday. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 433.25, a PEG ratio of 0.79 and a beta of 1.10. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The business has a 50 day simple moving average of $16.59 and a two-hundred day simple moving average of $16.23. 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 posted its earnings results on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.13. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company had revenue of $564.12 million for the quarter, compared to the consensus estimate of $572.95 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. The company's revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Driven Brands Company 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.

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