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

Moore Capital Management LP acquired a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 15,000 shares of the company's stock, valued at approximately $242,000.

A number of other institutional investors have also recently modified their holdings of the stock. Deutsche Bank AG increased 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 increased 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 valued at $5,116,000 after buying an additional 54,400 shares during the period. Bamco Inc. NY raised its position in shares of Driven Brands by 35.7% in the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company's stock valued at $76,665,000 after buying an additional 1,250,000 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Driven Brands in the 4th quarter valued at approximately $205,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Driven Brands by 25.4% during the 4th quarter. Ameriprise Financial Inc. now owns 41,622 shares of the company's stock worth $672,000 after acquiring an additional 8,441 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Driven Brands Trading Down 0.4%

Shares of DRVN stock traded down $0.08 during mid-day trading on Monday, reaching $18.12. 31,095 shares of the stock traded hands, compared to its average volume of 806,672. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 452.98, a price-to-earnings-growth ratio of 0.79 and a beta of 1.10. 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 stock's fifty day simple moving average is $16.88 and its two-hundred day simple moving average is $16.46. Driven Brands Holdings Inc. has a 1-year low of $10.64 and a 1-year high of $18.72.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating 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 business had revenue of $516.16 million during the quarter, compared to analyst estimates of $492.19 million. During the same quarter last year, the business earned $0.23 EPS. The firm's quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DRVN. Benchmark started coverage on shares of Driven Brands in a research note on Friday, April 4th. They issued a "buy" rating and a $22.00 price objective on the stock. Canaccord Genuity Group lifted their price target on Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price target on Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Piper Sandler raised their price objective on Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, BMO Capital Markets lifted their target price on Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Driven Brands 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.