Emeth Value Capital LLC Trims Stock Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Emeth Value Capital LLC trimmed its position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,443,770 shares of the company's stock after selling 124,503 shares during the quarter. Driven Brands makes up approximately 37.3% of Emeth Value Capital LLC's holdings, making the stock its largest position. Emeth Value Capital LLC owned 1.49% of Driven Brands worth $41,886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. LPL Financial LLC acquired a new stake in shares of Driven Brands during the 4th quarter worth approximately $178,000. BNP Paribas Financial Markets bought a new position in Driven Brands during the 4th quarter worth $205,000. SBI Securities Co. Ltd. acquired a new stake in Driven Brands in the fourth quarter worth $215,000. KLP Kapitalforvaltning AS bought a new stake in Driven Brands in the fourth quarter valued at $216,000. Finally, ExodusPoint Capital Management LP bought a new stake in Driven Brands in the fourth quarter valued at $230,000. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Stock Performance

DRVN opened at $17.06 on Thursday. The business has a 50 day moving average price of $17.25 and a two-hundred day moving average price of $16.66. The company has a debt-to-equity ratio of 4.07, a current ratio of 1.47 and a quick ratio of 1.33. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -9.43, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. Driven Brands Holdings Inc. has a 1-year low of $11.45 and a 1-year high of $18.72.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. The business had revenue of $516.16 million during the quarter, compared to analyst estimates of $492.19 million. Driven Brands had a positive return on equity of 19.61% and a negative net margin of 12.75%. The company's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Research analysts predict that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler increased their price objective 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. Robert W. Baird set a $25.00 price target on shares of Driven Brands in a research note on Thursday, March 13th. BMO Capital Markets boosted their price objective on Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Wall Street Zen raised Driven Brands from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Finally, The Goldman Sachs Group assumed coverage on Driven Brands in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $20.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.78.

Driven Brands 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.

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