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 G. Fitzpatrick sold 110,000 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $18.05, for a total value of $1,985,500.00. Following the sale, the director directly owned 2,279,453 shares of the company's stock, valued at $41,144,126.65. The trade was a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Driven Brands Trading Down 1.6%

Shares of NASDAQ:DRVN traded down $0.27 during midday trading on Friday, reaching $16.62. 1,614,464 shares of the company's stock were exchanged, compared to its average volume of 1,141,638. The firm's 50 day simple moving average is $17.55 and its two-hundred day simple moving average is $17.29. 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 stock has a market cap of $2.73 billion, a price-to-earnings ratio of -9.78, a P/E/G ratio of 1.00 and a beta of 1.09. Driven Brands Holdings Inc. has a fifty-two week low of $13.47 and a fifty-two week high of $19.74.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The company 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%.Driven Brands's revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. As a group, sell-side analysts forecast that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Driven Brands

Institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its stake in Driven Brands by 82.1% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company's stock worth $37,000 after purchasing an additional 941 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Driven Brands by 744.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company's stock valued at $37,000 after buying an additional 1,854 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Driven Brands in the first quarter valued at approximately $72,000. Tower Research Capital LLC TRC lifted its stake in Driven Brands by 709.3% in the second 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. Finally, XTX Topco Ltd purchased a new stake in Driven Brands in the first quarter valued at approximately $182,000. Hedge funds and other institutional investors own 77.08% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on DRVN. JPMorgan Chase & Co. raised Driven Brands from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $17.00 to $23.00 in a research report on Wednesday, August 6th. Wall Street Zen downgraded Driven Brands from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $24.00 target price on shares of Driven Brands in a research report on Thursday. BTIG Research reaffirmed a "buy" rating and issued a $22.00 target price on shares of Driven Brands in a research report on Friday, September 12th. Finally, Zacks Research raised Driven Brands to a "hold" rating in a research report on Friday, August 8th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.