SG Americas Securities LLC Decreases Stock Position in Driven Brands Holdings Inc. $DRVN

Key Points

• SG Americas Securities LLC cut its stake in Driven Brands by 71.7% in the first quarter, selling 83,890 shares and leaving it with 33,067 shares valued at about $417,000.
• Driven Brands reported better-than-expected quarterly earnings, posting EPS of $0.30 versus the $0.24 consensus and revenue of $484.44 million, though revenue still fell 6.2% year over year.
• Analysts remain mixed but generally constructive, with a Moderate Buy consensus and an average price target of $17.18, above the stock’s Thursday opening price of $14.82.

SG Americas Securities LLC lessened its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 71.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,067 shares of the company's stock after selling 83,890 shares during the period. SG Americas Securities LLC's holdings in Driven Brands were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in DRVN. Osaic Holdings Inc. increased its holdings in shares of Driven Brands by 82.1% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company's stock worth $37,000 after purchasing an additional 941 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Driven Brands by 744.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company's stock valued at $37,000 after buying an additional 1,854 shares in the last quarter. Comerica Bank grew its holdings in Driven Brands by 328.8% during the 4th quarter. Comerica Bank now owns 2,933 shares of the company's stock valued at $43,000 after buying an additional 2,249 shares in the last quarter. Larson Financial Group LLC increased its stake in Driven Brands by 1,347.7% in the 4th quarter. Larson Financial Group LLC now owns 3,822 shares of the company's stock worth $57,000 after acquiring an additional 3,558 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Driven Brands by 30.5% in the 4th quarter. Federated Hermes Inc. now owns 8,727 shares of the company's stock worth $129,000 after acquiring an additional 2,040 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

Driven Brands Price Performance

Driven Brands stock opened at $14.82 on Thursday. The firm has a 50-day moving average price of $13.49 and a 200-day moving average price of $13.77. The firm has a market capitalization of $2.44 billion, a PE ratio of 13.23 and a beta of 0.96. The company has a current ratio of 1.38, a quick ratio of 1.25 and a debt-to-equity ratio of 2.08. Driven Brands Holdings Inc. has a 12-month low of $9.80 and a 12-month high of $19.74.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings results on Thursday, June 11th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The company had revenue of $484.44 million for the quarter, compared to the consensus estimate of $480.84 million. Driven Brands had a net margin of 9.08% and a return on equity of 25.70%. The firm's revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. As a group, equities research analysts forecast that Driven Brands Holdings Inc. will post 1.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DRVN. Morgan Stanley cut their target price on shares of Driven Brands from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Wednesday, May 20th. Weiss Ratings upgraded shares of Driven Brands from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, June 12th. Royal Bank Of Canada dropped their price objective on shares of Driven Brands from $18.00 to $17.00 and set an "outperform" rating for the company in a research note on Thursday, June 11th. Zacks Research upgraded shares of Driven Brands from a "strong sell" rating to a "hold" rating in a report on Thursday, March 19th. Finally, BTIG Research restated a "buy" rating and set a $17.00 target price on shares of Driven Brands in a research report on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.18.

About Driven Brands

Driven Brands Holdings Inc NASDAQ: DRVN is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company's platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.

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