Wedmont Private Capital Decreases Stock Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Wedmont Private Capital cut its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,376 shares of the company’s stock after selling 671 shares during the period. Wedmont Private Capital’s holdings in Driven Brands were worth $569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DRVN. Scopia Capital Management LP acquired a new stake in shares of Driven Brands in the 3rd quarter worth approximately $16,890,000. Marshall Wace LLP boosted its stake in shares of Driven Brands by 516.2% during the second quarter. Marshall Wace LLP now owns 612,436 shares of the company’s stock valued at $7,796,000 after acquiring an additional 513,045 shares during the last quarter. Bamco Inc. NY increased its position in Driven Brands by 16.7% during the 3rd quarter. Bamco Inc. NY now owns 3,500,000 shares of the company’s stock worth $49,945,000 after purchasing an additional 500,000 shares in the last quarter. AQR Capital Management LLC raised its stake in Driven Brands by 79.9% in the 2nd quarter. AQR Capital Management LLC now owns 929,073 shares of the company’s stock valued at $11,483,000 after purchasing an additional 412,547 shares during the last quarter. Finally, HG Vora Capital Management LLC lifted its holdings in Driven Brands by 4.9% in the 3rd quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company’s stock valued at $107,738,000 after purchasing an additional 350,000 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DRVN shares. Royal Bank of Canada lifted their price target on shares of Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus lifted their target price on shares of Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group increased their price target on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Driven Brands presently has a consensus rating of “Moderate Buy” and an average target price of $17.86.

Driven Brands Price Performance

Shares of Driven Brands stock opened at $15.36 on Wednesday. The business’s fifty day moving average price is $16.37 and its 200 day moving average price is $14.77. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $17.45. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The stock has a market capitalization of $2.52 billion, a P/E ratio of 384.00, a PEG ratio of 1.11 and a beta of 1.15.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The business had revenue of $591.70 million for the quarter, compared to analyst estimates of $598.49 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. As a group, research analysts anticipate that Driven Brands Holdings Inc. will post 0.86 earnings per share for the current year.

Driven Brands Company 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.