Insider Selling: Driven Brands (NASDAQ:DRVN) Director Sells 110,000 Shares of Stock

Key Points

• Jonathan Fitzpatrick, a director at Driven Brands, sold 110,000 shares of the company's stock for a total of approximately $1.99 million, reducing his ownership by 4.60%.
• Driven Brands stock experienced a decline, trading at $17.29, amid a positive quarterly earnings report where the company beat earnings expectations with $0.36 EPS.
• Equities analysts have generally optimistic views on Driven Brands, with multiple upgrades and target prices ranging from $22.00 to $24.00, reflecting a consensus rating of "Moderate Buy."

Driven Brands Holdings Inc. (NASDAQ:DRVN - Get Free Report) Director Jonathan Fitzpatrick sold 110,000 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $18.05, for a total value of $1,985,500.00. Following the completion of the transaction, the director owned 2,279,453 shares in the company, valued at $41,144,126.65. This trade represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Driven Brands Stock Performance

DRVN stock traded down $0.56 during trading on Tuesday, hitting $17.29. The company had a trading volume of 1,441,897 shares, compared to its average volume of 983,482. The firm has a market cap of $2.84 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 1.07 and a beta of 1.09. Driven Brands Holdings Inc. has a 1-year low of $13.47 and a 1-year high of $19.74. The firm has a 50-day moving average price of $17.60 and a 200-day moving average price of $17.29. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 2.82.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. The firm had revenue of $550.99 million for the quarter, compared to analysts' expectations 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 for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. On average, analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Driven Brands from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $17.00 to $23.00 in a research report on Wednesday, August 6th. BTIG Research reiterated a "buy" rating and set a $22.00 target price on shares of Driven Brands in a research report on Friday. Canaccord Genuity Group boosted their target price on Driven Brands from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Wall Street Zen cut Driven Brands from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Zacks Research upgraded Driven Brands to a "hold" rating in a research report on Friday, August 8th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Driven Brands currently has an average rating of "Moderate Buy" and a consensus target price of $21.60.

Hedge Funds Weigh In On Driven Brands

Several hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. increased its stake in Driven Brands by 82.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company's stock valued at $37,000 after purchasing an additional 941 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in Driven Brands by 74.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 25,318 shares of the company's stock valued at $445,000 after buying an additional 10,814 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Driven Brands by 315.1% during the 2nd quarter. Squarepoint Ops LLC now owns 136,594 shares of the company's stock valued at $2,399,000 after buying an additional 103,684 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Driven Brands during the 2nd quarter valued at $361,000. Finally, Tower Research Capital LLC TRC grew its holdings in Driven Brands by 709.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,490 shares of the company's stock valued at $149,000 after buying an additional 7,441 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

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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