Cambridge Investment Research Advisors Inc. Sells 21,699 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Cambridge Investment Research Advisors Inc. lessened its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 21.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,347 shares of the company’s stock after selling 21,699 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Driven Brands were worth $1,394,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DRVN. North Peak Capital Management LLC boosted its holdings in Driven Brands by 8.6% in the fourth quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company’s stock worth $92,905,000 after acquiring an additional 457,217 shares in the last quarter. Vanguard Group Inc. increased its position in Driven Brands by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company’s stock worth $92,134,000 after buying an additional 31,431 shares during the last quarter. Bamco Inc. NY increased its position in Driven Brands by 35.7% in the fourth quarter. Bamco Inc. NY now owns 4,750,000 shares of the company’s stock worth $76,665,000 after buying an additional 1,250,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Driven Brands by 54.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company’s stock worth $19,141,000 after buying an additional 416,744 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Driven Brands by 7.0% in the fourth quarter. Northern Trust Corp now owns 578,215 shares of the company’s stock valued at $9,332,000 after purchasing an additional 37,959 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Wall Street Analysts Forecast Growth

DRVN has been the topic of a number of research analyst reports. The Goldman Sachs Group assumed coverage on Driven Brands in a research note on Tuesday, June 3rd. They issued a “neutral” rating and a $20.00 target price on the stock. Canaccord Genuity Group increased their price objective on Driven Brands from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, June 27th. BTIG Research started coverage on Driven Brands in a report on Monday. They issued a “buy” rating and a $22.00 price objective for the company. Wall Street Zen lowered Driven Brands from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Finally, Robert W. Baird set a $25.00 price objective on Driven Brands in a research report on Thursday, March 13th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Driven Brands Stock Performance

DRVN stock opened at $18.06 on Friday. The company has a market cap of $2.97 billion, a P/E ratio of -9.98, a price-to-earnings-growth ratio of 1.02 and a beta of 1.09. Driven Brands Holdings Inc. has a 1 year low of $12.34 and a 1 year high of $18.72. The company has a debt-to-equity ratio of 4.07, a current ratio of 1.47 and a quick ratio of 1.33. The stock’s fifty day moving average price is $17.55 and its 200-day moving average price is $16.71.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of $516.16 million for the quarter, compared to the consensus estimate of $492.19 million. Driven Brands had a positive return on equity of 19.61% and a negative net margin of 12.75%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. On average, equities analysts forecast that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

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.