Cinctive Capital Management LP Decreases Stock Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Cinctive Capital Management LP lowered its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 23.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,744 shares of the company's stock after selling 28,355 shares during the quarter. Cinctive Capital Management LP owned 0.06% of Driven Brands worth $1,465,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Alliancebernstein L.P. raised its holdings in shares of Driven Brands by 8.5% in the fourth quarter. Alliancebernstein L.P. now owns 78,731 shares of the company's stock valued at $1,271,000 after purchasing an additional 6,200 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Driven Brands by 687.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 114,327 shares of the company's stock valued at $1,845,000 after buying an additional 99,811 shares during the last quarter. Norges Bank bought a new position in shares of Driven Brands during the 4th quarter worth approximately $1,742,000. Vanguard Group Inc. lifted its position in shares of Driven Brands by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company's stock worth $92,134,000 after buying an additional 31,431 shares in the last quarter. Finally, LPL Financial LLC purchased a new position in shares of Driven Brands in the 4th quarter worth approximately $178,000. Institutional investors and hedge funds own 77.08% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DRVN. Benchmark started coverage on shares of Driven Brands in a research note on Friday, April 4th. They set a "buy" rating and a $22.00 price target for the company. BMO Capital Markets raised 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. Robert W. Baird set a $25.00 price target on Driven Brands in a research report on Thursday, March 13th. Piper Sandler lifted their price objective on Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.50.

Driven Brands Stock Up 8.6 %

DRVN traded up $1.29 on Wednesday, hitting $16.28. The company had a trading volume of 1,057,326 shares, compared to its average volume of 902,975. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 407.00, 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. The stock has a fifty day moving average price of $16.44 and a 200-day moving average price of $15.97. Driven Brands Holdings Inc. has a 12-month low of $10.59 and a 12-month high of $18.01.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, beating 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 firm had revenue of $564.12 million during the quarter, compared to analyst estimates of $572.95 million. During the same period last year, the firm posted $0.19 EPS. Driven Brands's revenue was up 1.9% on a year-over-year basis. Analysts predict that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

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.