Diametric Capital LP Sells 39,151 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Diametric Capital LP trimmed its position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 77.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,687 shares of the company's stock after selling 39,151 shares during the period. Diametric Capital LP's holdings in Driven Brands were worth $189,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of 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 buying an additional 7,885 shares in the last quarter. Townsquare Capital LLC acquired a new position in Driven Brands during the 3rd quarter valued at about $153,000. LPL Financial LLC acquired a new position in Driven Brands during the 4th quarter valued at about $178,000. SBI Securities Co. Ltd. purchased a new position in shares of Driven Brands during the fourth quarter valued at approximately $215,000. Finally, KLP Kapitalforvaltning AS bought a new position in Driven Brands during the 4th quarter valued at $216,000. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Price Performance

Shares of DRVN stock traded down $0.66 on Monday, reaching $15.45. The company's stock had a trading volume of 416,524 shares, compared to its average volume of 895,226. Driven Brands Holdings Inc. has a 12-month low of $10.59 and a 12-month high of $18.01. The stock's 50 day simple moving average is $16.54 and its 200-day simple moving average is $15.96. 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 capitalization of $2.53 billion, a P/E ratio of 382.35, a PEG ratio of 0.79 and a beta of 1.09.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.13. The firm had revenue of $564.12 million during the quarter, compared to the consensus estimate of $572.95 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. As a group, equities analysts predict that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DRVN has been the subject of several recent analyst reports. Piper Sandler upped their target price on Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Benchmark assumed coverage on shares of Driven Brands in a research note on Friday. They issued a "buy" rating and a $22.00 target price on the stock. BMO Capital Markets raised their price target on shares of Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on Driven Brands in a report on Thursday, March 13th. Finally, 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. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.50.

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.