Insider Selling: Driven Brands (NASDAQ:DRVN) Director Sells 75,000 Shares of Stock

Key Points

• Jonathan Fitzpatrick, a director at Driven Brands, sold 75,000 shares of the company's stock for a total of $1,370,250, resulting in a 3.04% decrease in his ownership position.
• Driven Brands reported an EPS of $0.36 for the last quarter, exceeding analysts’ estimates, and experienced a year-over-year revenue increase of 6.2% to $550.99 million.
• Research analysts have given Driven Brands a consensus target price of $21.60, with multiple ratings including seven "Buy" and three "Hold" ratings.

Driven Brands Holdings Inc. (NASDAQ:DRVN - Get Free Report) Director Jonathan G. Fitzpatrick sold 75,000 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.27, for a total value of $1,370,250.00. Following the completion of the transaction, the director owned 2,389,453 shares of the company's stock, valued at $43,655,306.31. The trade was a 3.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Driven Brands Stock Down 1.6%

Shares of NASDAQ DRVN traded down $0.27 during mid-day trading on Friday, hitting $16.62. The company had a trading volume of 1,614,464 shares, compared to its average volume of 1,141,638. The company has a market capitalization of $2.73 billion, a PE ratio of -9.78, a price-to-earnings-growth ratio of 1.00 and a beta of 1.09. The firm has a 50-day simple moving average of $17.55 and a two-hundred day simple moving average of $17.29. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 2.82. Driven Brands Holdings Inc. has a one year low of $13.47 and a one year high of $19.74.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.The company had revenue of $550.99 million during the quarter, compared to analysts' expectations of $540.12 million. During the same quarter last year, the company earned $0.35 EPS. Driven Brands's revenue for the quarter was up 6.2% compared to the same quarter last year. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. On average, equities analysts expect that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DRVN. Norwood Investment Partners LP bought a new stake in shares of Driven Brands in the first quarter worth $15,892,000. Hennessy Advisors Inc. bought a new stake in shares of Driven Brands in the second quarter worth $10,562,000. North Peak Capital Management LLC grew its stake in shares of Driven Brands by 9.0% in the second quarter. North Peak Capital Management LLC now owns 7,123,075 shares of the company's stock worth $125,081,000 after purchasing an additional 589,556 shares during the last quarter. Nuveen LLC bought a new stake in shares of Driven Brands in the first quarter worth $7,167,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Driven Brands in the second quarter worth $5,676,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. The Goldman Sachs Group assumed coverage on Driven Brands in a report on Tuesday, June 3rd. They set a "neutral" rating and a $20.00 price target for the company. JPMorgan Chase & Co. upgraded Driven Brands from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $17.00 to $23.00 in a report on Wednesday, August 6th. Zacks Research upgraded Driven Brands to a "hold" rating in a report on Friday, August 8th. BTIG Research reiterated a "buy" rating and set a $22.00 price target on shares of Driven Brands in a report on Friday, September 12th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $24.00 price objective on shares of Driven Brands in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.60.

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.