Driven Brands Holdings Inc. (NASDAQ:DRVN) Holdings Trimmed by Millennium Management LLC

Millennium Management LLC lessened its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 46.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,193,856 shares of the company's stock after selling 1,934,558 shares during the quarter. Millennium Management LLC owned about 1.34% of Driven Brands worth $35,409,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Driven Brands by 3.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,104 shares of the company's stock valued at $550,000 after acquiring an additional 1,079 shares during the period. MetLife Investment Management LLC increased its stake in shares of Driven Brands by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 37,161 shares of the company's stock valued at $600,000 after acquiring an additional 2,003 shares during the period. Legal & General Group Plc increased its stake in shares of Driven Brands by 5.5% during the fourth quarter. Legal & General Group Plc now owns 73,791 shares of the company's stock valued at $1,191,000 after acquiring an additional 3,833 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Driven Brands by 20.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,760 shares of the company's stock valued at $384,000 after acquiring an additional 3,952 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Driven Brands by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 496,073 shares of the company's stock valued at $8,007,000 after acquiring an additional 4,062 shares during the period. Institutional investors and hedge funds own 77.08% of the company's stock.

Driven Brands Trading Down 2.4%

NASDAQ DRVN traded down $0.43 on Friday, hitting $17.22. 625,718 shares of the stock were exchanged, compared to its average volume of 787,369. Driven Brands Holdings Inc. has a 52-week low of $10.71 and a 52-week high of $18.72. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 430.50, a P/E/G ratio of 0.79 and a beta of 1.10. The company's 50-day moving average price is $16.96 and its two-hundred day moving average price is $16.54.

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

Analyst Ratings Changes

A number of research firms recently commented on DRVN. Wall Street Zen lowered shares of Driven Brands from a "buy" rating to a "hold" rating in a research note on Thursday. Benchmark assumed coverage on shares of Driven Brands in a research note on Friday, April 4th. They set a "buy" rating and a $22.00 price objective on the stock. Piper Sandler lifted their price target on shares of Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Canaccord Genuity Group lifted their price target on shares of Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets lifted their price target on shares of Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.78.

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.