Moore Capital Management LP Invests $242,000 in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Moore Capital Management LP acquired a new position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 15,000 shares of the company's stock, valued at approximately $242,000.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Driven Brands by 600.5% in the 4th quarter. Blue Trust Inc. now owns 9,198 shares of the company's stock worth $148,000 after purchasing an additional 7,885 shares during the period. LPL Financial LLC purchased a new stake in shares of Driven Brands during the 4th quarter valued at about $178,000. BNP Paribas Financial Markets purchased a new stake in shares of Driven Brands during the 4th quarter valued at about $205,000. SBI Securities Co. Ltd. purchased a new stake in shares of Driven Brands during the 4th quarter valued at about $215,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Driven Brands during the 4th quarter valued at about $216,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Driven Brands Stock Performance

Driven Brands stock traded up $0.15 during mid-day trading on Friday, hitting $18.20. 435,310 shares of the company's stock traded hands, compared to its average volume of 810,496. The firm has a 50 day moving average price of $16.88 and a 200 day moving average price of $16.43. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The company has a market cap of $2.99 billion, a PE ratio of 455.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.10. Driven Brands Holdings Inc. has a one year low of $10.64 and a one year high of $18.72.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on DRVN. Benchmark began coverage on Driven Brands in a report on Friday, April 4th. They set a "buy" rating and a $22.00 target price on the stock. The Goldman Sachs Group raised their target price on 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 Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. BMO Capital Markets lifted their target price on Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Driven Brands presently has an average rating of "Moderate Buy" and a consensus price target of $20.78.

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.