Driven Brands Holdings Inc. $DRVN Shares Bought by Versor Investments LP

Key Points

• Versor Investments LP increased its stake in Driven Brands Holdings Inc. by 88.7%, acquiring an additional 38,932 shares, resulting in ownership of 82,832 shares valued at $1.42 million.
• Driven Brands reported earnings of $0.36 per share for the last quarter, exceeding estimates, and generated revenue of $550.99 million, a 6.2% increase from the previous year.
• Analysts hold a consensus rating of "Moderate Buy" for Driven Brands, with price targets ranging from $20 to $24, reflecting confidence in the company's future performance.

Versor Investments LP increased its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 88.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 82,832 shares of the company's stock after acquiring an additional 38,932 shares during the period. Versor Investments LP owned approximately 0.05% of Driven Brands worth $1,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DRVN. LPL Financial LLC acquired a new position in Driven Brands during the 4th quarter worth approximately $178,000. Wells Fargo & Company MN lifted its position in Driven Brands by 34.5% during the 4th quarter. Wells Fargo & Company MN now owns 34,722 shares of the company's stock worth $560,000 after acquiring an additional 8,909 shares in the last quarter. Invesco Ltd. lifted its position in Driven Brands by 14.6% during the 4th quarter. Invesco Ltd. now owns 143,117 shares of the company's stock worth $2,310,000 after acquiring an additional 18,277 shares in the last quarter. Legal & General Group Plc lifted its position in 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 acquiring an additional 3,833 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Driven Brands by 27.9% in the 4th quarter. Barclays PLC now owns 262,370 shares of the company's stock valued at $4,235,000 after purchasing an additional 57,302 shares in the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DRVN has been the topic of a number of recent analyst reports. BTIG Research initiated coverage on Driven Brands in a research report on Monday, June 30th. They issued a "buy" rating and a $22.00 target price on the stock. Canaccord Genuity Group upped their target price on Driven Brands from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Zacks Research raised Driven Brands to a "hold" rating in a research report on Friday, August 8th. The Goldman Sachs Group assumed coverage on Driven Brands in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $20.00 price target for the company. Finally, JPMorgan Chase & Co. upgraded Driven Brands from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $17.00 to $23.00 in a report on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.60.

Driven Brands Stock Performance

DRVN traded up $1.06 during trading on Friday, reaching $18.25. 1,476,889 shares of the company were exchanged, compared to its average volume of 799,409. The stock has a market cap of $3.00 billion, a P/E ratio of -10.74, a PEG ratio of 1.03 and a beta of 1.08. The firm has a 50 day moving average of $17.26 and a 200 day moving average of $16.99. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 2.82. Driven Brands Holdings Inc. has a 52 week low of $13.35 and a 52 week high of $18.72.

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