Driven Brands Holdings Inc. (NASDAQ:DRVN) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,593 shares of the company’s stock after selling 1,455 shares during the period. The Manufacturers Life Insurance Company’s holdings in Driven Brands were worth $591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Versor Investments LP raised its position in Driven Brands by 107.1% during the fourth quarter. Versor Investments LP now owns 43,900 shares of the company’s stock worth $709,000 after acquiring an additional 22,700 shares during the last quarter. Emeth Value Capital LLC acquired a new position in Driven Brands during the fourth quarter worth about $41,452,000. Arrowstreet Capital Limited Partnership raised its position in Driven Brands by 687.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 114,327 shares of the company’s stock worth $1,845,000 after acquiring an additional 99,811 shares during the last quarter. Barclays PLC raised its position in Driven Brands by 36.0% during the third quarter. Barclays PLC now owns 205,068 shares of the company’s stock worth $2,928,000 after acquiring an additional 54,277 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Driven Brands during the fourth quarter worth about $375,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Price Performance

NASDAQ DRVN opened at $18.20 on Friday. 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 stock has a market capitalization of $2.99 billion, a PE ratio of 455.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.10. The company has a 50 day moving average price of $16.88 and a two-hundred day moving average price of $16.43. Driven Brands Holdings Inc. has a 12-month low of $10.64 and a 12-month high of $18.72.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business had revenue of $516.16 million during the quarter, compared to analysts’ expectations of $492.19 million. During the same period in the previous year, the company earned $0.23 earnings per share. Driven Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts predict that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

DRVN has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group lifted their target price on shares of Driven Brands from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Benchmark initiated coverage on shares of Driven Brands in a report on Friday, April 4th. They set a “buy” rating and a $22.00 price target for the company. Robert W. Baird set a $25.00 price target on shares of Driven Brands in a report on Thursday, March 13th. Finally, Piper Sandler lifted their price target 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. Three 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.78.

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.