Diametric Capital LP Cuts Stake in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Diametric Capital LP lessened its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 77.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,687 shares of the company’s stock after selling 39,151 shares during the quarter. Diametric Capital LP’s holdings in Driven Brands were worth $189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Intech Investment Management LLC bought a new position in shares of Driven Brands during the 3rd quarter valued at about $245,000. Townsquare Capital LLC bought a new position in Driven Brands during the third quarter valued at approximately $153,000. MetLife Investment Management LLC boosted its stake in Driven Brands by 129.1% during the third quarter. MetLife Investment Management LLC now owns 35,158 shares of the company’s stock valued at $502,000 after buying an additional 19,810 shares during the last quarter. PEAK6 Investments LLC purchased a new position in Driven Brands during the 3rd quarter valued at approximately $398,000. Finally, Cinctive Capital Management LP increased its stake in Driven Brands by 27.2% in the 3rd quarter. Cinctive Capital Management LP now owns 119,099 shares of the company’s stock worth $1,700,000 after acquiring an additional 25,473 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Driven Brands Price Performance

DRVN opened at $17.31 on Thursday. 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 business has a fifty day moving average of $16.55 and a 200 day moving average of $15.92. Driven Brands Holdings Inc. has a 52-week low of $10.59 and a 52-week high of $18.01. The stock has a market cap of $2.84 billion, a P/E ratio of 432.75, a PEG ratio of 0.79 and a beta of 1.13.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $572.95 million. During the same period in the prior year, the business posted $0.19 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DRVN shares. JPMorgan Chase & Co. raised their target price 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. Piper Sandler boosted their target price on shares of Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Robert W. Baird set a $25.00 target price on shares of Driven Brands in a research report on Thursday, March 13th. Canaccord Genuity Group lifted their price target on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets upped their price objective on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Driven Brands presently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

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.