Informed Momentum Co LLC Takes $3.44 Million Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Key Points

• Informed Momentum Co LLC acquired 200,931 shares of Driven Brands Holdings Inc., valued at approximately $3,444,000, making up about 0.12% of the company's stock.
• Driven Brands reported a 0.36 EPS for the most recent quarter, exceeding analyst expectations of $0.34, and noted a revenue increase of 6.2% year-over-year.
• Analysts have mixed ratings on Driven Brands, with an average rating of "Moderate Buy" and a consensus price target of $21.60, indicating potential for future growth.

Informed Momentum Co LLC bought a new position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 200,931 shares of the company's stock, valued at approximately $3,444,000. Informed Momentum Co LLC owned 0.12% of Driven Brands as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in Driven Brands during the first quarter valued at about $182,000. LPL Financial LLC bought a new stake in Driven Brands during the fourth quarter worth approximately $178,000. BNP Paribas Financial Markets bought a new stake in Driven Brands during the fourth quarter worth approximately $205,000. ExodusPoint Capital Management LP bought a new stake in Driven Brands during the fourth quarter worth approximately $230,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Driven Brands during the first quarter worth approximately $245,000. 77.08% of the stock is owned by institutional investors.

Driven Brands Trading Down 0.9%

NASDAQ DRVN traded down $0.15 on Friday, reaching $16.76. The stock had a trading volume of 737,450 shares, compared to its average volume of 775,963. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -9.86, a P/E/G ratio of 1.02 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 2.82. Driven Brands Holdings Inc. has a 12-month low of $13.35 and a 12-month high of $18.72. The stock has a fifty day moving average price of $17.28 and a two-hundred day moving average price of $16.96.

Driven Brands (NASDAQ:DRVN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $550.99 million during the quarter, compared to the consensus estimate of $540.12 million. Driven Brands had a negative net margin of 12.32% and a positive return on equity of 21.17%. The company's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, sell-side analysts forecast that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DRVN. Wall Street Zen lowered Driven Brands from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. BTIG Research started coverage on shares of Driven Brands in a research note on Monday, June 30th. They issued a "buy" rating and a $22.00 price objective for the company. JPMorgan Chase & Co. raised Driven Brands from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $17.00 to $23.00 in a research report on Wednesday, August 6th. The Goldman Sachs Group assumed coverage on Driven Brands in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $20.00 price target on the stock. Finally, Zacks Research raised Driven Brands to a "hold" rating in a research report on Friday, August 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.60.

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.