Driven Brands Holdings Inc. $DRVN Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC reduced its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 11.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,587 shares of the company’s stock after selling 2,067 shares during the period. Voya Investment Management LLC’s holdings in Driven Brands were worth $284,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DRVN. Norwood Investment Partners LP bought a new position in Driven Brands during the 1st quarter worth $15,892,000. Nuveen LLC bought a new position in Driven Brands during the 1st quarter worth $7,167,000. Landscape Capital Management L.L.C. grew its stake in Driven Brands by 288.3% during the 1st quarter. Landscape Capital Management L.L.C. now owns 273,080 shares of the company’s stock worth $4,681,000 after buying an additional 202,747 shares during the last quarter. Informed Momentum Co LLC bought a new position in Driven Brands during the 1st quarter worth $3,444,000. Finally, Principal Financial Group Inc. bought a new position in Driven Brands during the 1st quarter worth $2,850,000. 77.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $18.05, for a total transaction of $1,985,500.00. Following the completion of the transaction, the director owned 2,279,453 shares of the company’s stock, valued at $41,144,126.65. This trade represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. The Goldman Sachs Group assumed coverage on Driven Brands in a research note on Tuesday, June 3rd. They set a “neutral” rating and a $20.00 price objective for the company. Zacks Research upgraded Driven Brands to a “hold” rating in a research note on Friday, August 8th. JPMorgan Chase & Co. upgraded Driven Brands from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $17.00 to $23.00 in a research note on Wednesday, August 6th. Wall Street Zen cut Driven Brands from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, BTIG Research reissued a “buy” rating and issued a $22.00 price target on shares of Driven Brands in a research note on Friday, September 12th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Driven Brands presently has an average rating of “Moderate Buy” and an average target price of $21.60.

Driven Brands Trading Down 0.4%

NASDAQ:DRVN opened at $16.10 on Monday. Driven Brands Holdings Inc. has a 1 year low of $13.47 and a 1 year high of $19.74. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -9.47, a PEG ratio of 0.97 and a beta of 1.09. The business has a fifty day moving average of $17.44 and a 200-day moving average of $17.30. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.01 and a current ratio of 1.11.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.The business had revenue of $550.99 million during the quarter, compared to analysts’ expectations of $540.12 million. During the same quarter last year, the business posted $0.35 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. Equities analysts predict 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.