Janus Henderson Group PLC Sells 394,628 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Janus Henderson Group PLC cut its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,770,158 shares of the company's stock after selling 394,628 shares during the period. Janus Henderson Group PLC owned about 1.69% of Driven Brands worth $44,711,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Deutsche Bank AG boosted its position in shares of Driven Brands by 13.5% in the fourth quarter. Deutsche Bank AG now owns 181,537 shares of the company's stock worth $2,930,000 after purchasing an additional 21,542 shares during the period. CastleKnight Management LP boosted its holdings in Driven Brands by 20.7% in the 4th quarter. CastleKnight Management LP now owns 317,000 shares of the company's stock worth $5,116,000 after buying an additional 54,400 shares during the period. Bamco Inc. NY increased its stake in Driven Brands by 35.7% in the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company's stock worth $76,665,000 after buying an additional 1,250,000 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Driven Brands during the fourth quarter valued at about $205,000. Finally, Ameriprise Financial Inc. raised its holdings in Driven Brands by 25.4% during the fourth quarter. Ameriprise Financial Inc. now owns 41,622 shares of the company's stock valued at $672,000 after acquiring an additional 8,441 shares during the period. Institutional investors own 77.08% of the company's stock.

Wall Street Analyst Weigh In

DRVN has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group increased their price objective on shares of Driven Brands from $16.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Canaccord Genuity Group lifted their price objective on shares of Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped 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, Piper Sandler lifted their price target on shares of Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.78.

Driven Brands Trading Down 0.5%

Shares of DRVN opened at $17.85 on Wednesday. The stock has a market capitalization of $2.93 billion, a PE ratio of 446.25, a P/E/G ratio of 0.79 and a beta of 1.10. The company's fifty day moving average is $16.76 and its 200 day moving average is $16.37. 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 Holdings Inc. has a fifty-two week low of $10.64 and a fifty-two week high of $18.72.

Driven Brands (NASDAQ:DRVN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm had revenue of $516.16 million for the quarter, compared to the consensus estimate of $492.19 million. During the same period in the previous year, the firm posted $0.23 EPS. The business's quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.