Versor Investments LP Purchases 38,932 Shares of Driven Brands Holdings Inc. $DRVN

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 raised its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 88.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,832 shares of the company's stock after purchasing 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.

A number of other large investors have also added to or reduced their stakes in DRVN. LPL Financial LLC purchased a new stake in Driven Brands during the fourth quarter valued at about $178,000. Wells Fargo & Company MN lifted its stake in shares of Driven Brands by 34.5% in the 4th quarter. Wells Fargo & Company MN now owns 34,722 shares of the company's stock valued at $560,000 after acquiring an additional 8,909 shares during the last quarter. Invesco Ltd. boosted its holdings in Driven Brands by 14.6% during the 4th quarter. Invesco Ltd. now owns 143,117 shares of the company's stock valued at $2,310,000 after acquiring an additional 18,277 shares during the period. Legal & General Group Plc boosted its holdings in Driven Brands by 5.5% during the 4th quarter. Legal & General Group Plc now owns 73,791 shares of the company's stock valued at $1,191,000 after acquiring an additional 3,833 shares during the period. Finally, Barclays PLC increased its stake in Driven Brands by 27.9% in the 4th quarter. Barclays PLC now owns 262,370 shares of the company's stock worth $4,235,000 after purchasing an additional 57,302 shares during the period. Hedge funds and other institutional investors own 77.08% of the company's stock.

Driven Brands Stock Performance

Shares of NASDAQ:DRVN traded up $0.21 during trading on Thursday, hitting $17.19. The company's stock had a trading volume of 412,329 shares, compared to its average volume of 691,353. The company has a 50-day moving average of $17.23 and a 200-day moving average of $16.97. Driven Brands Holdings Inc. has a 12 month low of $13.35 and a 12 month high of $18.72. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.11 and a quick ratio of 1.01. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -10.11, a P/E/G ratio of 1.03 and a beta of 1.08.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. Driven Brands had a negative net margin of 12.32% and a positive return on equity of 21.17%. The firm had revenue of $550.99 million during the quarter, compared to analysts' expectations of $540.12 million. During the same period in the prior year, the company posted $0.35 earnings per share. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. On average, sell-side analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on DRVN. Zacks Research raised Driven Brands to a "hold" rating in a research note on Friday, August 8th. Canaccord Genuity Group lifted their price objective on Driven Brands from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group started coverage on shares of Driven Brands in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $20.00 price target for the company. Wall Street Zen downgraded Driven Brands from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. upgraded shares of Driven Brands from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock 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 assigned a Hold rating to the company. According to MarketBeat, Driven Brands presently has an average rating of "Moderate Buy" and an average target price of $21.60.

Driven Brands Company 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.