ExodusPoint Capital Management LP Boosts Stock Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

ExodusPoint Capital Management LP grew its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 190.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,233 shares of the company’s stock after purchasing an additional 34,229 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Driven Brands were worth $1,583,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MetLife Investment Management LLC purchased a new position in shares of Driven Brands during the 1st quarter valued at approximately $28,000. GPS Wealth Strategies Group LLC purchased a new position in shares of Driven Brands during the 1st quarter valued at approximately $36,000. Belpointe Asset Management LLC purchased a new position in shares of Driven Brands during the 4th quarter valued at approximately $39,000. Tower Research Capital LLC TRC increased its holdings in shares of Driven Brands by 54.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock valued at $44,000 after purchasing an additional 552 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new position in shares of Driven Brands during the 4th quarter valued at approximately $44,000. 36.97% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Price Performance

Driven Brands stock opened at $14.86 on Friday. Driven Brands Holdings Inc. has a 52-week low of $13.15 and a 52-week high of $35.45. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.69 and a beta of 0.83. The company has a fifty day simple moving average of $21.12 and a 200-day simple moving average of $25.65. The company has a quick ratio of 1.02, a current ratio of 1.18 and a debt-to-equity ratio of 1.59.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Wednesday, August 2nd. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Driven Brands had a return on equity of 10.41% and a net margin of 5.99%. The business had revenue of $606.85 million for the quarter, compared to analysts’ expectations of $590.38 million. On average, equities analysts anticipate that Driven Brands Holdings Inc. will post 0.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DRVN. Royal Bank of Canada cut their target price on shares of Driven Brands from $40.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. William Blair cut shares of Driven Brands from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 2nd. Barclays reduced their price objective on shares of Driven Brands from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. TheStreet cut shares of Driven Brands from a “c-” rating to a “d+” rating in a research report on Thursday, August 17th. Finally, Morgan Stanley reduced their price objective on shares of Driven Brands from $37.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, August 3rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $26.22.

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. The company offers various services, such as paint, collision, glass, vehicle repair, car wash, oil change, and maintenance services.