TimesSquare Capital Management LLC lessened its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 28.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,465,836 shares of the company's stock after selling 586,512 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.89% of Driven Brands worth $20,903,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of DRVN. PNC Financial Services Group Inc. raised its holdings in Driven Brands by 877.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,679 shares of the company's stock valued at $34,000 after acquiring an additional 2,405 shares during the period. Lindbrook Capital LLC grew its position in shares of Driven Brands by 126.9% during the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company's stock valued at $41,000 after purchasing an additional 1,594 shares in the last quarter. Signaturefd LLC grew its position in shares of Driven Brands by 6,787.0% during the 3rd quarter. Signaturefd LLC now owns 6,887 shares of the company's stock valued at $87,000 after purchasing an additional 6,787 shares in the last quarter. Quent Capital LLC grew its position in shares of Driven Brands by 17.1% during the 4th quarter. Quent Capital LLC now owns 8,921 shares of the company's stock valued at $127,000 after purchasing an additional 1,304 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Driven Brands by 27.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,391 shares of the company's stock valued at $131,000 after purchasing an additional 2,259 shares in the last quarter. Institutional investors own 77.08% of the company's stock.
Driven Brands Trading Up 0.9 %
DRVN stock traded up $0.10 during trading on Friday, reaching $11.36. The company had a trading volume of 956,083 shares, compared to its average volume of 1,231,222. Driven Brands Holdings Inc. has a 52 week low of $10.59 and a 52 week high of $28.51. The business has a 50 day moving average of $14.39 and a 200 day moving average of $13.54. The company has a market cap of $1.86 billion, a P/E ratio of -2.44, a PEG ratio of 0.72 and a beta of 1.19. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.92 and a quick ratio of 1.73.
Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 11.38%. The company had revenue of $553.70 million for the quarter, compared to analysts' expectations of $572.92 million. During the same quarter last year, the company posted $0.22 earnings per share. The firm's quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts forecast that Driven Brands Holdings Inc. will post 0.88 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages recently issued reports on DRVN. The Goldman Sachs Group cut their target price on shares of Driven Brands from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Friday, May 3rd. Barclays cut their price target on shares of Driven Brands from $25.00 to $22.00 and set an "overweight" rating for the company in a research report on Monday. Piper Sandler lowered their price objective on shares of Driven Brands from $18.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday, May 3rd. JPMorgan Chase & Co. downgraded shares of Driven Brands from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $18.00 to $12.50 in a research note on Friday, May 3rd. Finally, Canaccord Genuity Group lowered their price objective on shares of Driven Brands from $21.00 to $17.00 and set a "buy" rating for the company in a research note on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.61.
Check Out Our Latest Stock Report on Driven Brands
Driven Brands Company Profile
(
Free Report)
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.
See Also
Before you consider Driven Brands, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Driven Brands wasn't on the list.
While Driven Brands currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
