Driven Brands Holdings Inc. (NASDAQ:DRVN) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Rating) by 52.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,673 shares of the company’s stock after acquiring an additional 3,342 shares during the period. SG Americas Securities LLC’s holdings in Driven Brands were worth $264,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DRVN. MetLife Investment Management LLC acquired a new position in Driven Brands during the first quarter worth $28,000. Tower Research Capital LLC TRC increased its position in Driven Brands by 54.8% during the third quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock worth $44,000 after buying an additional 552 shares during the last quarter. Sandia Investment Management LP acquired a new position in Driven Brands during the third quarter worth $84,000. Counterpoint Mutual Funds LLC acquired a new position in Driven Brands during the third quarter worth $98,000. Finally, Covestor Ltd increased its position in Driven Brands by 1,790.0% during the first quarter. Covestor Ltd now owns 3,780 shares of the company’s stock worth $99,000 after buying an additional 3,580 shares during the last quarter. 38.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DRVN has been the subject of several recent research reports. Piper Sandler dropped their price target on shares of Driven Brands from $41.00 to $40.00 in a research report on Friday, February 17th. Royal Bank of Canada increased their price target on shares of Driven Brands from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, February 23rd. Stifel Nicolaus dropped their price target on shares of Driven Brands from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, February 27th. Barclays assumed coverage on shares of Driven Brands in a research report on Tuesday, February 7th. They issued an “overweight” rating and a $35.00 price target for the company. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $31.00 price objective on shares of Driven Brands in a report on Thursday, February 23rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.56.

Driven Brands Trading Down 2.6 %

DRVN opened at $27.40 on Wednesday. The stock has a market capitalization of $4.59 billion, a P/E ratio of 124.55, a P/E/G ratio of 4.11 and a beta of 0.81. Driven Brands Holdings Inc. has a 12 month low of $24.62 and a 12 month high of $35.45. The firm’s fifty day simple moving average is $29.25 and its 200 day simple moving average is $29.11. The company has a current ratio of 1.13, a quick ratio of 0.99 and a debt-to-equity ratio of 1.64.

Driven Brands (NASDAQ:DRVN – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $539.65 million during the quarter, compared to analyst estimates of $550.19 million. Driven Brands had a net margin of 1.81% and a return on equity of 11.51%. As a group, research analysts anticipate that Driven Brands Holdings Inc. will post 1.12 EPS for the current fiscal year.

About Driven Brands

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Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. The company offers various services, such as paint, collision, glass, vehicle repair, car wash, oil change, and maintenance services.