Jane Street Group LLC Sells 39,609 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Jane Street Group LLC lessened its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 57.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,569 shares of the company's stock after selling 39,609 shares during the period. Jane Street Group LLC's holdings in Driven Brands were worth $477,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. MetLife Investment Management LLC lifted its stake in Driven Brands by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 37,161 shares of the company's stock worth $600,000 after purchasing an additional 2,003 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Driven Brands by 5.5% during the 4th quarter. Legal & General Group Plc now owns 73,791 shares of the company's stock worth $1,191,000 after buying an additional 3,833 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Driven Brands by 20.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,760 shares of the company's stock worth $384,000 after buying an additional 3,952 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Driven Brands by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 496,073 shares of the company's stock valued at $8,007,000 after buying an additional 4,062 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Driven Brands by 47.2% in the fourth quarter. SG Americas Securities LLC now owns 13,720 shares of the company's stock valued at $221,000 after acquiring an additional 4,399 shares during the last quarter. Institutional investors own 77.08% of the company's stock.

Analyst Ratings Changes

DRVN has been the topic of a number of recent analyst reports. Benchmark initiated coverage on Driven Brands in a research report on Friday, April 4th. They issued a "buy" rating and a $22.00 target price on the stock. BMO Capital Markets lifted their price target on shares of Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. The Goldman Sachs Group lifted their price target on shares of Driven Brands from $16.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Wall Street Zen downgraded shares of Driven Brands from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group raised their price objective on Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $20.78.

Driven Brands Trading Up 1.7%

NASDAQ:DRVN traded up $0.30 during trading hours on Friday, hitting $17.73. 600,943 shares of the company were exchanged, compared to its average volume of 773,770. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 443.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.10. Driven Brands Holdings Inc. has a one year low of $10.88 and a one year high of $18.72. The company has a fifty day simple moving average of $16.99 and a 200 day simple moving average of $16.58. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.27 EPS 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 firm had revenue of $516.16 million for the quarter, compared to the consensus estimate of $492.19 million. During the same period in the previous year, the business earned $0.23 EPS. The business's quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts expect that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

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.