Interval Partners LP Reduces Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Interval Partners LP decreased its holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 78.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,741 shares of the company's stock after selling 452,881 shares during the quarter. Interval Partners LP owned about 0.08% of Driven Brands worth $1,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Lombard Odier Asset Management USA Corp purchased a new position in Driven Brands during the 2nd quarter worth $320,000. XTX Topco Ltd purchased a new position in Driven Brands during the 2nd quarter worth $312,000. Edgestream Partners L.P. purchased a new position in Driven Brands during the 2nd quarter worth $816,000. Meeder Asset Management Inc. purchased a new position in Driven Brands during the 2nd quarter worth $352,000. Finally, Quest Partners LLC raised its position in Driven Brands by 79.3% during the 2nd quarter. Quest Partners LLC now owns 28,001 shares of the company's stock worth $356,000 after buying an additional 12,386 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

Wall Street Analyst Weigh In

DRVN has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Driven Brands from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Canaccord Genuity Group upped their price objective on shares of Driven Brands from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Benchmark reiterated a "buy" rating and issued a $20.00 price target on shares of Driven Brands in a report on Tuesday, August 20th. Robert W. Baird increased their price target on shares of Driven Brands from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Finally, Baird R W upgraded shares of Driven Brands to a "strong-buy" rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Driven Brands currently has a consensus rating of "Moderate Buy" and an average target price of $16.95.

Driven Brands Price Performance

NASDAQ:DRVN traded up $0.09 during mid-day trading on Tuesday, hitting $14.89. 757,863 shares of the company's stock traded hands, compared to its average volume of 1,159,019. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.91 and a current ratio of 2.11. The firm's 50 day simple moving average is $13.76 and its 200 day simple moving average is $13.33. Driven Brands Holdings Inc. has a 1 year low of $10.59 and a 1 year high of $16.00. The company has a market cap of $2.44 billion, a PE ratio of -3.19, a price-to-earnings-growth ratio of 0.82 and a beta of 1.13.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.07. The firm had revenue of $611.60 million for the quarter, compared to analysts' expectations of $628.34 million. Driven Brands had a negative net margin of 33.56% and a positive return on equity of 15.12%. Driven Brands's revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. Sell-side analysts expect that Driven Brands Holdings Inc. will post 0.88 EPS for the current 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.