Signaturefd LLC Has $72,000 Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Signaturefd LLC decreased its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 50.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,681 shares of the company’s stock after selling 5,701 shares during the period. Signaturefd LLC’s holdings in Driven Brands were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Driven Brands in the 2nd quarter valued at $86,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Driven Brands by 6.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 99,282 shares of the company’s stock worth $1,264,000 after buying an additional 6,159 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Driven Brands by 39.2% in the second quarter. Bank of New York Mellon Corp now owns 233,040 shares of the company’s stock valued at $2,967,000 after buying an additional 65,567 shares in the last quarter. Wedmont Private Capital grew its position in Driven Brands by 255.8% in the second quarter. Wedmont Private Capital now owns 37,213 shares of the company’s stock valued at $485,000 after acquiring an additional 26,755 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Driven Brands by 396.7% during the second quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock worth $1,573,000 after acquiring an additional 98,662 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DRVN has been the topic of a number of research analyst reports. Robert W. Baird raised their price target on shares of Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $17.00 target price (up previously from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Royal Bank of Canada increased their price target on Driven Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Baird R W raised Driven Brands to a “strong-buy” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.95.

Driven Brands Price Performance

Shares of NASDAQ DRVN opened at $13.98 on Thursday. The company has a market capitalization of $2.29 billion, a PE ratio of -3.00, a P/E/G ratio of 0.86 and a beta of 1.12. The company has a quick ratio of 1.91, a current ratio of 2.11 and a debt-to-equity ratio of 3.03. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $16.00. The firm has a fifty day simple moving average of $13.42 and a 200 day simple moving average of $13.29.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.07. Driven Brands had a positive return on equity of 15.12% and a negative net margin of 33.56%. The firm had revenue of $611.60 million during the quarter, compared to analyst estimates of $628.34 million. During the same period last year, the company posted $0.27 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Driven Brands Holdings Inc. will post 0.88 EPS for the current 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.