Algert Global LLC Sells 585,513 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Algert Global LLC lowered its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 86.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 89,390 shares of the company’s stock after selling 585,513 shares during the period. Algert Global LLC owned 0.05% of Driven Brands worth $1,276,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DRVN. Price T Rowe Associates Inc. MD lifted its holdings in shares of Driven Brands by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock valued at $219,000 after purchasing an additional 1,758 shares in the last quarter. Boston Partners lifted its holdings in shares of Driven Brands by 125.6% in the first quarter. Boston Partners now owns 108,067 shares of the company’s stock valued at $1,706,000 after purchasing an additional 60,159 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Driven Brands by 396.7% in the second quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock valued at $1,573,000 after purchasing an additional 98,662 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of 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 purchasing an additional 26,755 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 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 purchasing an additional 65,567 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Performance

NASDAQ:DRVN opened at $16.86 on Friday. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The business has a fifty day simple moving average of $15.13 and a two-hundred day simple moving average of $13.59. Driven Brands Holdings Inc. has a 1 year low of $10.59 and a 1 year high of $17.35. The company has a market capitalization of $2.77 billion, a P/E ratio of 421.50, a P/E/G ratio of 1.13 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Thursday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business had revenue of $591.70 million during the quarter, compared to the consensus estimate of $598.49 million. During the same period last year, the business posted $0.19 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts expect that Driven Brands Holdings Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

DRVN has been the topic of a number of recent research reports. Benchmark restated a “buy” rating and issued a $20.00 target price on shares of Driven Brands in a report on Tuesday, August 20th. The Goldman Sachs Group increased their price target on Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Canaccord Genuity Group increased their price target on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and set a $17.00 price target (up from $14.00) on shares of Driven Brands in a research report on Friday, August 2nd. Finally, Stifel Nicolaus increased their price target on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Driven Brands presently has a consensus rating of “Moderate Buy” and an average price target of $17.86.

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.