Versor Investments LP grew its position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 107.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,900 shares of the company's stock after purchasing an additional 22,700 shares during the quarter. Versor Investments LP's holdings in Driven Brands were worth $709,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the company. HG Vora Capital Management LLC raised its holdings in Driven Brands by 4.9% in the 3rd quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company's stock worth $107,738,000 after acquiring an additional 350,000 shares during the period. North Peak Capital Management LLC grew its position in shares of Driven Brands by 1.8% in the third quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company's stock valued at $75,617,000 after purchasing an additional 95,529 shares during the last quarter. Bamco Inc. NY increased its stake in shares of Driven Brands by 16.7% in the third quarter. Bamco Inc. NY now owns 3,500,000 shares of the company's stock worth $49,945,000 after purchasing an additional 500,000 shares during the period. Emeth Value Capital LLC acquired a new position in shares of Driven Brands during the 4th quarter worth about $41,452,000. Finally, Geode Capital Management LLC boosted its stake in Driven Brands by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,511,230 shares of the company's stock valued at $21,570,000 after purchasing an additional 19,681 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on DRVN shares. Canaccord Genuity Group upped their price target on Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Piper Sandler increased their price target on shares of Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on shares of Driven Brands from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Stifel Nicolaus upped their price objective on shares of Driven Brands from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, 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. 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $19.60.
View Our Latest Analysis on DRVN
Driven Brands Price Performance
Shares of DRVN stock traded down $0.69 during trading hours on Tuesday, hitting $16.51. The company had a trading volume of 569,114 shares, compared to its average volume of 870,007. 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 firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 413.65, a PEG ratio of 0.79 and a beta of 1.15. Driven Brands Holdings Inc. has a 12 month low of $10.59 and a 12 month high of $18.01. The firm's fifty day moving average is $16.05 and its 200 day moving average is $15.48.
Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 0.27% and a return on equity of 14.86%. The firm's quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.19 EPS. On average, sell-side analysts predict that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.
About Driven Brands
(
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.
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