Cresset Asset Management LLC Cuts Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Cresset Asset Management LLC reduced its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 73.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,277 shares of the company's stock after selling 37,480 shares during the period. Cresset Asset Management LLC's holdings in Driven Brands were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Versor Investments LP boosted its stake in shares of Driven Brands by 107.1% in the fourth quarter. Versor Investments LP now owns 43,900 shares of the company's stock valued at $709,000 after buying an additional 22,700 shares during the period. Emeth Value Capital LLC bought a new stake in Driven Brands during the fourth quarter worth $41,452,000. Arrowstreet Capital Limited Partnership lifted its stake in Driven Brands by 687.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 114,327 shares of the company's stock worth $1,845,000 after purchasing an additional 99,811 shares during the last quarter. Barclays PLC lifted its stake in Driven Brands by 36.0% during the third quarter. Barclays PLC now owns 205,068 shares of the company's stock worth $2,928,000 after purchasing an additional 54,277 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Driven Brands during the fourth quarter worth $375,000. 77.08% of the stock is currently owned by institutional investors.

Driven Brands Trading Down 2.4%

Driven Brands stock traded down $0.43 during trading hours on Friday, reaching $17.22. 625,718 shares of the company's stock were exchanged, compared to its average volume of 783,813. 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 firm's 50 day simple moving average is $16.96 and its 200 day simple moving average is $16.54. Driven Brands Holdings Inc. has a twelve month low of $10.88 and a twelve month high of $18.72. The firm has a market capitalization of $2.83 billion, a PE ratio of 430.50, a PEG ratio of 0.79 and a beta of 1.10.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. The company had revenue of $516.16 million during 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 firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.23 EPS. Research analysts predict that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. BMO Capital Markets upped their target price 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. Robert W. Baird set a $25.00 target price on Driven Brands in a research note on Thursday, March 13th. Benchmark assumed coverage on shares of Driven Brands in a report on Friday, April 4th. They set a "buy" rating and a $22.00 price target for the company. Piper Sandler upped their price target on shares of Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their price target on shares of Driven Brands from $16.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.78.

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.