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 trimmed 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. The institutional investor owned 6,250,000 shares of the company's stock after selling 1,150,000 shares during the quarter. Driven Brands makes up 10.9% of HG Vora Capital Management LLC's investment portfolio, making the stock its 4th largest position. 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 institutional investors have also modified their holdings of the company. Principal Financial Group Inc. acquired a new stake in shares of Driven Brands during the 1st quarter worth about $2,850,000. Yorktown Management & Research Co Inc acquired a new stake in Driven Brands during the first quarter worth approximately $255,000. Informed Momentum Co LLC purchased a new stake in shares of Driven Brands during the 1st quarter worth approximately $3,444,000. Russell Investments Group Ltd. boosted its holdings in shares of Driven Brands by 11.7% in the 1st quarter. Russell Investments Group Ltd. now owns 191,435 shares of the company's stock valued at $3,281,000 after buying an additional 20,044 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Driven Brands by 7.0% in the 4th quarter. Northern Trust Corp now owns 578,215 shares of the company's stock valued at $9,332,000 after buying an additional 37,959 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on DRVN shares. JPMorgan Chase & Co. upgraded Driven Brands from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $17.00 to $23.00 in a research note on Wednesday, August 6th. Canaccord Genuity Group increased their price objective on Driven Brands from $23.00 to $24.00 and gave the company a "buy" rating in a report on Friday, June 27th. The Goldman Sachs Group initiated coverage on shares of Driven Brands in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $20.00 target price on the stock. Wall Street Zen cut shares of Driven Brands from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, BTIG Research started coverage on shares of Driven Brands in a research report on Monday, June 30th. They set a "buy" rating and a $22.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.60.

Driven Brands Stock Performance

NASDAQ DRVN traded down $0.29 during trading hours on Friday, hitting $18.92. 1,444,514 shares of the stock were exchanged, compared to its average volume of 853,033. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 2.82. The company has a market cap of $3.11 billion, a price-to-earnings ratio of -11.13, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. Driven Brands Holdings Inc. has a 12-month low of $13.35 and a 12-month high of $19.74. The stock has a 50-day moving average of $17.54 and a 200 day moving average of $17.17.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $550.99 million during the quarter, compared to analysts' expectations of $540.12 million. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.Driven Brands's revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. As a group, equities research 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.