Driven Brands Holdings Inc. $DRVN Shares Sold by HG Vora Capital Management LLC

Key Points

• HG Vora Capital Management LLC decreased its holdings in Driven Brands by 15.5%, now owning 6,250,000 shares worth approximately $107.1 million.
• Driven Brands had an EPS of $0.36 for the last quarter, surpassing analysts' expectations, and is projected to achieve 0.85 EPS for the current fiscal year.
• Institutional investors hold 77.08% of Driven Brands' stock, indicating strong interest from large financial entities.

HG Vora Capital Management LLC reduced its position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 15.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,250,000 shares of the company's stock after selling 1,150,000 shares during the quarter. Driven Brands accounts for approximately 10.9% of HG Vora Capital Management LLC's holdings, making the stock its 4th biggest holding. HG Vora Capital Management LLC owned approximately 3.80% of Driven Brands worth $107,125,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Driven Brands by 54.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company's stock valued at $19,141,000 after purchasing an additional 416,744 shares during the period. Norwood Investment Partners LP acquired a new stake in shares of Driven Brands in the 1st quarter valued at $15,892,000. Northern Trust Corp increased its position in shares of Driven Brands by 5.4% during the first quarter. Northern Trust Corp now owns 609,645 shares of the company's stock worth $10,449,000 after purchasing an additional 31,430 shares in the last quarter. Nuveen LLC purchased a new stake in Driven Brands during the first quarter worth about $7,167,000. Finally, Landscape Capital Management L.L.C. lifted its stake in shares of Driven Brands by 288.3% during the first quarter. Landscape Capital Management L.L.C. now owns 273,080 shares of the company's stock valued at $4,681,000 after buying an additional 202,747 shares during the period. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Price Performance

DRVN stock traded down $0.39 during mid-day trading on Tuesday, reaching $18.53. 314,475 shares of the company traded hands, compared to its average volume of 724,720. The company has a market capitalization of $3.04 billion, a P/E ratio of -10.85, a P/E/G ratio of 1.14 and a beta of 1.09. The company has a fifty day moving average price of $17.57 and a 200-day moving average price of $17.21. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.11 and a quick ratio of 1.01. Driven Brands Holdings Inc. has a 52-week low of $13.35 and a 52-week high of $19.74.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.The company had revenue of $550.99 million during the quarter, compared to the consensus estimate of $540.12 million. During the same quarter in the prior year, the company earned $0.35 earnings per share. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. As a group, analysts anticipate that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on DRVN. The Goldman Sachs Group began coverage on shares of Driven Brands in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $20.00 target price on the stock. Canaccord Genuity Group raised their price objective on shares of Driven Brands from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Zacks Research raised shares of Driven Brands to a "hold" rating in a report on Friday, August 8th. Wall Street Zen downgraded shares of Driven Brands from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, JPMorgan Chase & Co. upgraded shares of Driven Brands from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $17.00 to $23.00 in a research report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $21.60.

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.