Marshall Wace LLP Trims Stake in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Marshall Wace LLP trimmed its position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 8.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 209,618 shares of the company's stock after selling 18,945 shares during the period. Marshall Wace LLP owned 0.13% of Driven Brands worth $3,383,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC grew its position in shares of Driven Brands by 27.9% in the 4th quarter. Barclays PLC now owns 262,370 shares of the company's stock valued at $4,235,000 after buying an additional 57,302 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Driven Brands by 5.5% during the fourth 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 in the last quarter. Invesco Ltd. grew its position in Driven Brands by 14.6% in the 4th quarter. Invesco Ltd. now owns 143,117 shares of the company's stock valued at $2,310,000 after purchasing an additional 18,277 shares during the period. Russell Investments Group Ltd. increased its stake in Driven Brands by 186.3% during the 4th quarter. Russell Investments Group Ltd. now owns 171,391 shares of the company's stock valued at $2,766,000 after purchasing an additional 111,519 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Driven Brands by 34.5% during the fourth quarter. Wells Fargo & Company MN now owns 34,722 shares of the company's stock worth $560,000 after buying an additional 8,909 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Stock Up 1.6 %

Shares of DRVN traded up $0.27 on Thursday, hitting $16.79. 97,376 shares of the stock traded hands, compared to its average volume of 871,030. The business has a 50 day simple moving average of $16.51 and a 200 day simple moving average of $16.16. Driven Brands Holdings Inc. has a one year low of $10.59 and a one year high of $18.01. The company has a market capitalization of $2.76 billion, a PE ratio of 421.50, a P/E/G ratio of 0.79 and a beta of 1.09. 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 released its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business had revenue of $564.12 million for the quarter, compared to the consensus estimate of $572.95 million. During the same period last year, the firm earned $0.19 earnings per share. The company's quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities analysts forecast that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DRVN has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Robert W. Baird set a $25.00 target price on shares of Driven Brands in a research note on Thursday, March 13th. Canaccord Genuity Group raised their price target 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. Piper Sandler upped their price objective on shares of Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets lifted their target price on shares of Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $20.50.

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.