Squarepoint Ops LLC Has $376,000 Stake in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Squarepoint Ops LLC decreased its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 88.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 23,276 shares of the company's stock after selling 181,121 shares during the period. Squarepoint Ops LLC's holdings in Driven Brands were worth $376,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Trust Inc. lifted its position in Driven Brands by 600.5% during the fourth quarter. Blue Trust Inc. now owns 9,198 shares of the company's stock worth $148,000 after acquiring an additional 7,885 shares during the last quarter. LPL Financial LLC acquired a new stake in Driven Brands during the 4th quarter worth approximately $178,000. BNP Paribas Financial Markets acquired a new stake in Driven Brands during the 4th quarter worth approximately $205,000. SBI Securities Co. Ltd. bought a new stake in Driven Brands in the 4th quarter valued at $215,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Driven Brands in the 4th quarter valued at $216,000. Institutional investors own 77.08% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on DRVN. Benchmark initiated coverage on Driven Brands in a research report on Friday, April 4th. They set a "buy" rating and a $22.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of Driven Brands in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $20.00 price target for the company. BMO Capital Markets increased their price target on Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on Driven Brands in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. upped their target price on Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $20.78.

Driven Brands Price Performance

Shares of DRVN traded down $0.13 during midday trading on Monday, hitting $18.23. The company's stock had a trading volume of 706,037 shares, compared to its average volume of 777,720. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. Driven Brands Holdings Inc. has a one year low of $10.88 and a one year high of $18.72. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 455.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.11. The company's fifty day simple moving average is $17.03 and its two-hundred day simple moving average is $16.63.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.04. The firm had revenue of $516.16 million for the quarter, compared to analysts' expectations of $492.19 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share. As a group, equities analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share 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.