Janus Henderson Group PLC Cuts Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Janus Henderson Group PLC trimmed its holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 12.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,770,158 shares of the company's stock after selling 394,628 shares during the quarter. Janus Henderson Group PLC owned about 1.69% of Driven Brands worth $44,711,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Driven Brands by 36.0% in the 3rd quarter. Barclays PLC now owns 205,068 shares of the company's stock valued at $2,928,000 after buying an additional 54,277 shares in the last quarter. SG Americas Securities LLC lifted its position in Driven Brands by 47.2% in the fourth quarter. SG Americas Securities LLC now owns 13,720 shares of the company's stock valued at $221,000 after acquiring an additional 4,399 shares during the last quarter. Blue Trust Inc. lifted its position in Driven Brands by 600.5% in the fourth quarter. Blue Trust Inc. now owns 9,198 shares of the company's stock valued at $148,000 after acquiring an additional 7,885 shares during the last quarter. Emeth Value Capital LLC acquired a new position in Driven Brands in the fourth quarter valued at $41,452,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of Driven Brands by 24.6% during the fourth quarter. Handelsbanken Fonder AB now owns 24,300 shares of the company's stock worth $392,000 after purchasing an additional 4,800 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Stock Performance

NASDAQ:DRVN traded down $0.10 during mid-day trading on Monday, reaching $18.11. The stock had a trading volume of 23,507 shares, compared to its average volume of 806,636. Driven Brands Holdings Inc. has a twelve month low of $10.64 and a twelve month high of $18.72. The business has a 50 day simple moving average of $16.88 and a 200 day simple moving average of $16.46. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 452.63, a PEG ratio of 0.79 and a beta of 1.10. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) 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 business had revenue of $516.16 million during the quarter, compared to the consensus estimate of $492.19 million. During the same period in the prior year, the business posted $0.23 EPS. The company's revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Canaccord Genuity Group lifted their target price on Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Piper Sandler lifted their price target on Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on Driven Brands in a research note on Thursday, March 13th. JPMorgan Chase & Co. raised their target price on shares of Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their price target on shares of Driven Brands from $16.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Driven Brands currently has an average rating of "Moderate Buy" and a consensus price target of $20.78.

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.