Driven Brands Holdings Inc. $DRVN Shares Acquired by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP increased its position in Driven Brands Holdings Inc. by 36.0%, acquiring an additional 32,677 shares, bringing its total to 123,421 shares valued at approximately $2.12 million.
• The company reported $0.36 earnings per share for the quarter, exceeding expectations, alongside a revenue increase of 6.2% year-over-year to $550.99 million.
• Driven Brands has an average analyst rating of “Moderate Buy” with a target price of $21.60, reflecting growing confidence in the company's performance.

Cinctive Capital Management LP boosted its holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 36.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 123,421 shares of the company's stock after purchasing an additional 32,677 shares during the quarter. Cinctive Capital Management LP owned 0.08% of Driven Brands worth $2,115,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ewing Morris & Co. Investment Partners Ltd. increased its holdings in Driven Brands by 22.0% in the 1st quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 218,867 shares of the company's stock valued at $3,751,000 after buying an additional 39,468 shares during the period. Vident Advisory LLC boosted its position in Driven Brands by 14.6% during the 1st quarter. Vident Advisory LLC now owns 19,146 shares of the company's stock worth $328,000 after buying an additional 2,435 shares during the period. Landscape Capital Management L.L.C. increased its stake in shares of Driven Brands by 288.3% in the 1st quarter. Landscape Capital Management L.L.C. now owns 273,080 shares of the company's stock valued at $4,681,000 after acquiring an additional 202,747 shares in the last quarter. Northern Trust Corp increased its stake in shares of Driven Brands by 5.4% in the 1st quarter. Northern Trust Corp now owns 609,645 shares of the company's stock valued at $10,449,000 after acquiring an additional 31,430 shares in the last quarter. Finally, Versor Investments LP lifted its stake in shares of Driven Brands by 88.7% in the first quarter. Versor Investments LP now owns 82,832 shares of the company's stock valued at $1,420,000 after buying an additional 38,932 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DRVN. Wall Street Zen downgraded shares of Driven Brands from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. BTIG Research began coverage on Driven Brands in a research report on Monday, June 30th. They set a "buy" rating and a $22.00 price target on the stock. Canaccord Genuity Group upped their price target on Driven Brands from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Zacks Research upgraded Driven Brands to a "hold" rating in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. upgraded shares of Driven Brands from a "neutral" rating to an "overweight" rating and increased their price target for the company from $17.00 to $23.00 in a research report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.60.

Driven Brands Stock Performance

NASDAQ DRVN traded down $0.16 during trading hours on Wednesday, hitting $18.34. The company's stock had a trading volume of 137,251 shares, compared to its average volume of 723,545. Driven Brands Holdings Inc. has a 12 month low of $13.35 and a 12 month high of $19.74. The company's 50 day simple moving average is $17.58 and its two-hundred day simple moving average is $17.22. The company has a market cap of $3.01 billion, a P/E ratio of -10.79, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.11 and a quick ratio of 1.01.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 positive return on equity of 21.17% and a negative net margin of 12.32%.The business's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. As a group, sell-side analysts expect that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

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.