D. E. Shaw & Co. Inc. Cuts Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

D. E. Shaw & Co. Inc. lowered its position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 51.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 245,271 shares of the company's stock after selling 258,068 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.15% of Driven Brands worth $3,959,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DRVN. Deutsche Bank AG lifted its stake in Driven Brands by 13.5% in the fourth quarter. Deutsche Bank AG now owns 181,537 shares of the company's stock worth $2,930,000 after purchasing an additional 21,542 shares during the last quarter. CastleKnight Management LP raised its holdings in shares of Driven Brands by 20.7% in the fourth quarter. CastleKnight Management LP now owns 317,000 shares of the company's stock worth $5,116,000 after buying an additional 54,400 shares during the period. Bamco Inc. NY lifted its stake in shares of Driven Brands by 35.7% during the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company's stock worth $76,665,000 after acquiring an additional 1,250,000 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Driven Brands during the 4th quarter valued at $205,000. Finally, Ameriprise Financial Inc. grew its position in Driven Brands by 25.4% in the 4th quarter. Ameriprise Financial Inc. now owns 41,622 shares of the company's stock valued at $672,000 after acquiring an additional 8,441 shares during the last quarter. Institutional investors own 77.08% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DRVN shares. The Goldman Sachs Group boosted their target price on shares of Driven Brands from $16.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. upped their target price on shares of Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Piper Sandler boosted their price target on Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. BMO Capital Markets increased their price objective on Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Finally, Benchmark started coverage on Driven Brands in a report on Friday, April 4th. They set a "buy" rating and a $22.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $20.78.

Driven Brands Stock Down 2.9%

DRVN stock traded down $0.54 during trading on Wednesday, hitting $17.85. 493,068 shares of the company's stock traded hands, compared to its average volume of 804,616. The firm has a market capitalization of $2.93 billion, a P/E ratio of 446.25, a PEG ratio of 0.79 and a beta of 1.10. Driven Brands Holdings Inc. has a 1 year low of $10.64 and a 1 year high of $18.72. 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 business has a fifty day simple moving average of $16.94 and a two-hundred day simple moving average of $16.50.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.04. The business had revenue of $516.16 million for the quarter, compared to the consensus estimate of $492.19 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business's revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.23 EPS. Sell-side analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Driven Brands 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.