Driven Brands Holdings Inc. $DRVN Shares Acquired by AlphaQuest LLC

AlphaQuest LLC lifted its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 64.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,246 shares of the company’s stock after buying an additional 4,394 shares during the quarter. AlphaQuest LLC’s holdings in Driven Brands were worth $197,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of Driven Brands during the 1st quarter worth approximately $72,000. XTX Topco Ltd acquired a new position in shares of Driven Brands during the 1st quarter worth approximately $182,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Driven Brands during the 1st quarter worth approximately $245,000. Bleakley Financial Group LLC acquired a new position in shares of Driven Brands during the 2nd quarter worth approximately $290,000. Finally, Vident Advisory LLC raised its stake in shares of Driven Brands by 14.6% during the 1st quarter. Vident Advisory LLC now owns 19,146 shares of the company’s stock worth $328,000 after buying an additional 2,435 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Driven Brands news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $18.05, for a total value of $1,985,500.00. Following the completion of the sale, the director directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DRVN. JPMorgan Chase & Co. raised Driven Brands from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $17.00 to $23.00 in a research note on Wednesday, August 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $24.00 price target on shares of Driven Brands in a research report on Thursday, September 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Driven Brands in a research note on Tuesday, October 14th. Piper Sandler reduced their price objective on Driven Brands from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Finally, Wall Street Zen downgraded Driven Brands from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Driven Brands has an average rating of “Moderate Buy” and an average target price of $21.44.

Driven Brands Stock Down 2.3%

NASDAQ DRVN opened at $14.35 on Monday. The business has a fifty day moving average price of $16.64 and a 200 day moving average price of $17.08. Driven Brands Holdings Inc. has a one year low of $14.21 and a one year high of $19.74. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.01 and a current ratio of 1.11. The company has a market cap of $2.36 billion, a P/E ratio of -8.44, a P/E/G ratio of 0.86 and a beta of 1.05.

Driven Brands (NASDAQ:DRVN) last issued its earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.The business had revenue of $564.12 million during the quarter. Research analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Driven Brands Profile

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.