Emeth Value Capital LLC Sells 124,503 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

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

A number of other large investors have also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB boosted its stake in Driven Brands by 23.9% during the 1st quarter. Handelsbanken Fonder AB now owns 30,100 shares of the company's stock valued at $516,000 after acquiring an additional 5,800 shares during the last quarter. SG Americas Securities LLC boosted its stake in Driven Brands by 25.3% during the 1st quarter. SG Americas Securities LLC now owns 17,194 shares of the company's stock valued at $295,000 after acquiring an additional 3,474 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Driven Brands by 5.2% during the first quarter. Rhumbline Advisers now owns 86,478 shares of the company's stock worth $1,482,000 after purchasing an additional 4,243 shares during the period. GAMMA Investing LLC raised its holdings in shares of Driven Brands by 1,989.5% during the first quarter. GAMMA Investing LLC now owns 24,802 shares of the company's stock worth $425,000 after purchasing an additional 23,615 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Driven Brands by 260.7% during the fourth quarter. Mackenzie Financial Corp now owns 44,453 shares of the company's stock worth $717,000 after purchasing an additional 32,130 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Wall Street Zen raised shares of Driven Brands from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Piper Sandler increased their target price 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 target price on shares of Driven Brands in a report on Thursday, March 13th. Finally, Canaccord Genuity Group increased their target price on shares of Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Driven Brands presently has an average rating of "Moderate Buy" and a consensus target price of $20.78.

Driven Brands Stock Performance

Shares of DRVN stock traded down $0.05 during trading hours on Friday, reaching $17.01. The stock had a trading volume of 710,538 shares, compared to its average volume of 753,307. The company has a debt-to-equity ratio of 4.07, a current ratio of 1.47 and a quick ratio of 1.33. Driven Brands Holdings Inc. has a twelve month low of $11.58 and a twelve month high of $18.72. The firm has a 50-day simple moving average of $17.29 and a 200-day simple moving average of $16.66. The firm has a market capitalization of $2.79 billion, a PE ratio of -9.40, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. The business had revenue of $516.16 million for the quarter, compared to analysts' expectations of $492.19 million. Driven Brands had a negative net margin of 12.75% and a positive return on equity of 19.61%. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. As a group, equities analysts forecast that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

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.