SG Americas Securities LLC Sells 114,210 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

SG Americas Securities LLC reduced its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 92.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,321 shares of the company's stock after selling 114,210 shares during the quarter. SG Americas Securities LLC's holdings in Driven Brands were worth $133,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bamco Inc. NY grew its holdings in shares of Driven Brands by 14.3% in the 1st quarter. Bamco Inc. NY now owns 2,000,000 shares of the company's stock valued at $31,580,000 after acquiring an additional 250,000 shares in the last quarter. AQR Capital Management LLC boosted its position in Driven Brands by 79.9% during the second quarter. AQR Capital Management LLC now owns 929,073 shares of the company's stock valued at $11,483,000 after purchasing an additional 412,547 shares during the last quarter. Hood River Capital Management LLC bought a new position in Driven Brands in the first quarter valued at approximately $13,323,000. Marshall Wace LLP increased its position in shares of Driven Brands by 516.2% during the 2nd quarter. Marshall Wace LLP now owns 612,436 shares of the company's stock worth $7,796,000 after purchasing an additional 513,045 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of Driven Brands by 15.3% during the 2nd quarter. Squarepoint Ops LLC now owns 241,306 shares of the company's stock worth $3,072,000 after purchasing an additional 31,978 shares in the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Stock Performance

Shares of DRVN stock traded up $0.02 on Friday, hitting $14.53. The company's stock had a trading volume of 351,015 shares, compared to its average volume of 1,098,503. Driven Brands Holdings Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $16.00. The company has a market capitalization of $2.38 billion, a PE ratio of -3.12, a PEG ratio of 0.83 and a beta of 1.13. The stock's 50 day moving average is $14.27 and its 200-day moving average is $13.21. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.91 and a current ratio of 2.11.

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

Analyst Ratings Changes

A number of brokerages have recently commented on DRVN. Benchmark reissued a "buy" rating and issued a $20.00 price objective on shares of Driven Brands in a research report on Tuesday, August 20th. Royal Bank of Canada boosted their price target on Driven Brands from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Baird R W raised Driven Brands to a "strong-buy" rating in a research report on Friday, August 2nd. Piper Sandler reiterated an "overweight" rating and set a $17.00 target price (up from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Finally, Robert W. Baird increased their price target on Driven Brands from $17.00 to $18.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Driven Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.95.

Driven Brands Company 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.