Western Standard LLC reduced its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 56.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,413 shares of the company's stock after selling 390,000 shares during the period. Driven Brands makes up about 2.1% of Western Standard LLC's holdings, making the stock its 14th largest holding. Western Standard LLC owned about 0.18% of Driven Brands worth $4,497,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of DRVN. Osaic Holdings Inc. raised its stake in shares of Driven Brands by 82.1% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company's stock valued at $37,000 after acquiring an additional 941 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Driven Brands by 744.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company's stock valued at $37,000 after acquiring an additional 1,854 shares in the last quarter. Comerica Bank increased its holdings in Driven Brands by 328.8% in the fourth quarter. Comerica Bank now owns 2,933 shares of the company's stock valued at $43,000 after buying an additional 2,249 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Driven Brands by 1,113.8% in the third quarter. Farther Finance Advisors LLC now owns 3,338 shares of the company's stock valued at $54,000 after buying an additional 3,063 shares during the last quarter. Finally, Versant Capital Management Inc acquired a new position in shares of Driven Brands during the 3rd quarter worth about $84,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
DRVN has been the topic of several research analyst reports. Weiss Ratings reissued a "sell (d)" rating on shares of Driven Brands in a research report on Friday, March 27th. The Goldman Sachs Group reissued a "neutral" rating on shares of Driven Brands in a research report on Wednesday, April 22nd. Canaccord Genuity Group cut their target price on Driven Brands from $24.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. William Blair lowered Driven Brands from an "outperform" rating to a "hold" rating in a research report on Wednesday, April 22nd. Finally, Freedom Capital raised Driven Brands to a "strong-buy" rating in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Driven Brands presently has an average rating of "Hold" and an average price target of $19.00.
Read Our Latest Research Report on DRVN
Driven Brands Stock Up 3.2%
DRVN opened at $13.75 on Friday. The business's 50-day simple moving average is $12.03 and its 200-day simple moving average is $14.14. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.80 and a current ratio of 0.90. Driven Brands Holdings Inc. has a one year low of $9.80 and a one year high of $19.74. The stock has a market capitalization of $2.26 billion, a P/E ratio of -11.09 and a beta of 0.97.
About Driven Brands
(
Free Report)
Driven Brands Holdings Inc NASDAQ: DRVN is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company's platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.
Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.
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