AlphaQuest LLC Has $133,000 Stock Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

AlphaQuest LLC lowered its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 65.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,222 shares of the company's stock after selling 15,592 shares during the period. AlphaQuest LLC's holdings in Driven Brands were worth $133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in Driven Brands by 600.5% in the fourth quarter. Blue Trust Inc. now owns 9,198 shares of the company's stock valued at $148,000 after purchasing an additional 7,885 shares during the period. Townsquare Capital LLC acquired a new position in shares of Driven Brands during the 3rd quarter worth about $153,000. SBI Securities Co. Ltd. acquired a new position in shares of Driven Brands during the 4th quarter worth about $215,000. SG Americas Securities LLC boosted its position in shares of Driven Brands by 47.2% during the 4th quarter. SG Americas Securities LLC now owns 13,720 shares of the company's stock worth $221,000 after acquiring an additional 4,399 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Driven Brands by 54.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,398 shares of the company's stock valued at $234,000 after purchasing an additional 5,815 shares during the period. Institutional investors and hedge funds own 77.08% of the company's stock.

Driven Brands Stock Performance

Driven Brands stock remained flat at $17.41 during trading hours on Friday. 1,036,546 shares of the company's stock traded hands, compared to its average volume of 856,856. 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 has a market capitalization of $2.85 billion, a PE ratio of 435.25, a P/E/G ratio of 0.79 and a beta of 1.13. Driven Brands Holdings Inc. has a 1 year low of $10.59 and a 1 year high of $18.01. The stock has a 50 day moving average of $16.25 and a 200-day moving average of $15.69.

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Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.13. The business had revenue of $564.12 million during the quarter, compared to analyst estimates of $572.95 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. Driven Brands's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. On average, equities analysts predict that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DRVN shares. JPMorgan Chase & Co. raised their price objective on Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group raised their price objective on Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on Driven Brands in a research report on Thursday, March 13th. 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, Piper Sandler lifted their price target on Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $20.30.

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.