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

Millennium Management LLC decreased its position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 46.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,193,856 shares of the company's stock after selling 1,934,558 shares during the period. Millennium Management LLC owned approximately 1.34% of Driven Brands worth $35,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Emeth Value Capital LLC purchased a new position in shares of Driven Brands in the fourth quarter worth about $41,452,000. Bamco Inc. NY increased its holdings in Driven Brands by 35.7% in the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company's stock worth $76,665,000 after buying an additional 1,250,000 shares during the period. North Peak Capital Management LLC raised its position in Driven Brands by 8.6% during the 4th quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company's stock worth $92,905,000 after buying an additional 457,217 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Driven Brands by 54.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company's stock worth $19,141,000 after buying an additional 416,744 shares during the last quarter. Finally, Boston Partners acquired a new stake in Driven Brands during the 4th quarter valued at approximately $2,123,000. Institutional investors and hedge funds own 77.08% of the company's stock.

Driven Brands Price Performance

NASDAQ DRVN traded down $0.14 during trading hours on Thursday, reaching $17.71. The company's stock had a trading volume of 162,650 shares, compared to its average volume of 788,734. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. Driven Brands Holdings Inc. has a 1-year low of $10.64 and a 1-year high of $18.72. The company's 50-day moving average is $16.96 and its two-hundred day moving average is $16.51. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 443.28, a P/E/G ratio of 0.79 and a beta of 1.10.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its earnings results 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 return on equity of 14.86% and a net margin of 0.27%. The business had revenue of $516.16 million during the quarter, compared to the consensus estimate of $492.19 million. During the same period in the prior year, the company posted $0.23 EPS. The business's quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts predict that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DRVN. Canaccord Genuity Group increased their price objective on shares of Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Piper Sandler upped their price target on shares of Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Benchmark began coverage on Driven Brands in a research report on Friday, April 4th. They set a "buy" rating and a $22.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their target price on Driven Brands from $16.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Four equities 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.