Blueshift Asset Management LLC Lowers Position in Driven Brands Holdings Inc. $DRVN

Blueshift Asset Management LLC decreased its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 78.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,563 shares of the company’s stock after selling 52,667 shares during the quarter. Blueshift Asset Management LLC’s holdings in Driven Brands were worth $256,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of Driven Brands by 5.4% in the first quarter. Northern Trust Corp now owns 609,645 shares of the company’s stock worth $10,449,000 after buying an additional 31,430 shares in the last quarter. Informed Momentum Co LLC bought a new stake in Driven Brands in the 1st quarter worth approximately $3,444,000. Russell Investments Group Ltd. raised its holdings in shares of Driven Brands by 11.7% during the 1st quarter. Russell Investments Group Ltd. now owns 191,435 shares of the company’s stock worth $3,281,000 after acquiring an additional 20,044 shares in the last quarter. North Peak Capital Management LLC boosted its position in shares of Driven Brands by 9.0% during the 2nd quarter. North Peak Capital Management LLC now owns 7,123,075 shares of the company’s stock valued at $125,081,000 after acquiring an additional 589,556 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Driven Brands by 19.5% during the 1st quarter. American Century Companies Inc. now owns 105,872 shares of the company’s stock valued at $1,815,000 after acquiring an additional 17,272 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the business’s stock in a transaction on 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 in the company, valued at $41,144,126.65. The trade was a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. William Blair upgraded shares of Driven Brands from a “market perform” rating to an “outperform” rating in a research report on Wednesday. Benchmark restated a “buy” rating on shares of Driven Brands in a report on Wednesday. Zacks Research upgraded shares of Driven Brands to a “hold” rating in a research report on Friday, August 8th. BTIG Research lowered their price target on shares of Driven Brands from $22.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Driven Brands in a research note on Monday. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.22.

Driven Brands Price Performance

Driven Brands stock opened at $15.34 on Friday. Driven Brands Holdings Inc. has a 12-month low of $13.44 and a 12-month high of $19.74. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 2.44. The firm has a 50-day moving average price of $14.88 and a 200-day moving average price of $16.60. The firm has a market capitalization of $2.52 billion, a PE ratio of -12.37, a price-to-earnings-growth ratio of 0.86 and a beta of 1.04.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share for the quarter. Driven Brands had a negative net margin of 9.14% and a positive return on equity of 25.31%. The company had revenue of $564.12 million for the quarter. As a group, equities research analysts forecast that Driven Brands Holdings Inc. will post 0.85 EPS 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.