State of Wyoming Takes $351,000 Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

State of Wyoming purchased a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 21,752 shares of the company's stock, valued at approximately $351,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Seven Six Capital Management LLC bought a new stake in shares of Driven Brands in the 4th quarter valued at about $2,431,000. ProShare Advisors LLC increased its stake in shares of Driven Brands by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 16,875 shares of the company's stock valued at $272,000 after acquiring an additional 5,551 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Driven Brands by 21.1% in the 4th quarter. Quantinno Capital Management LP now owns 84,469 shares of the company's stock valued at $1,363,000 after acquiring an additional 14,699 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Driven Brands by 3.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,104 shares of the company's stock valued at $550,000 after acquiring an additional 1,079 shares during the last quarter. Finally, Moore Capital Management LP bought a new stake in shares of Driven Brands in the 4th quarter valued at about $242,000. 77.08% of the stock is owned by institutional investors.

Driven Brands Trading Down 2.9%

NASDAQ:DRVN opened at $17.85 on Thursday. Driven Brands Holdings Inc. has a twelve month low of $10.64 and a twelve month high of $18.72. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The business has a 50 day moving average price of $16.96 and a two-hundred day moving average price of $16.51. The company has a market cap of $2.93 billion, a P/E ratio of 446.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.10.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $492.19 million. During the same quarter in the prior year, the firm posted $0.23 EPS. The business's revenue was up 7.1% on a year-over-year basis. As a group, analysts expect that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on DRVN shares. BMO Capital Markets upped their price target on Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group boosted their price objective on Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group boosted their price objective on Driven Brands from $16.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Robert W. Baird set a $25.00 price objective on Driven Brands in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Driven Brands presently has a consensus rating of "Moderate Buy" and an average price target of $20.78.

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.

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