Informed Momentum Co LLC Buys Shares of 200,931 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 purchased a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 200,931 shares of the company's stock, valued at approximately $3,444,000. Informed Momentum Co LLC owned 0.12% of Driven Brands at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. LPL Financial LLC acquired a new stake in Driven Brands during the 4th quarter worth $178,000. XTX Topco Ltd acquired a new stake in Driven Brands during the 1st quarter worth $182,000. BNP Paribas Financial Markets acquired a new stake in Driven Brands during the 4th quarter worth $205,000. ExodusPoint Capital Management LP acquired a new stake in Driven Brands during the 4th quarter worth $230,000. Finally, Moore Capital Management LP purchased a new position in Driven Brands during the 4th quarter worth $242,000. Institutional investors and hedge funds own 77.08% of the company's stock.

Driven Brands Trading Up 2.9%

NASDAQ DRVN traded up $0.49 during mid-day trading on Wednesday, hitting $17.29. The company's stock had a trading volume of 559,537 shares, compared to its average volume of 781,853. Driven Brands Holdings Inc. has a 52-week low of $12.93 and a 52-week high of $18.72. The stock's fifty day simple moving average is $17.33 and its two-hundred day simple moving average is $16.96. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.11 and a quick ratio of 1.01. The firm has a market capitalization of $2.84 billion, a P/E ratio of -10.17, a price-to-earnings-growth ratio of 1.01 and a beta of 1.08.

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

Analyst Ratings Changes

A number of brokerages have commented on DRVN. BTIG Research began coverage on shares of Driven Brands in a research report on Monday, June 30th. They set a "buy" rating and a $22.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Driven Brands from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $17.00 to $23.00 in a research report on Wednesday, August 6th. Canaccord Genuity Group increased their price target on shares of Driven Brands from $23.00 to $24.00 and gave the company a "buy" rating in a report on Friday, June 27th. Wall Street Zen downgraded shares of Driven Brands from a "buy" rating to a "hold" rating in a report on Saturday. Finally, The Goldman Sachs Group started coverage on shares of Driven Brands in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $20.00 price target on the stock. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.