SG Americas Securities LLC Sells 83,890 Shares of Driven Brands Holdings Inc. $DRVN

SG Americas Securities LLC reduced its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 71.7% in the first quarter, Holdings Channel reports. The firm owned 33,067 shares of the company’s stock after selling 83,890 shares during the period. SG Americas Securities LLC’s holdings in Driven Brands were worth $417,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DRVN. Osaic Holdings Inc. increased its stake in Driven Brands by 82.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock worth $37,000 after buying an additional 941 shares during the period. EverSource Wealth Advisors LLC boosted its position in Driven Brands by 744.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after buying an additional 1,854 shares during the period. Comerica Bank boosted its position in Driven Brands by 328.8% in the 4th quarter. Comerica Bank now owns 2,933 shares of the company’s stock valued at $43,000 after buying an additional 2,249 shares during the period. Larson Financial Group LLC grew its stake in Driven Brands by 1,347.7% in the 4th quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock worth $57,000 after acquiring an additional 3,558 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Driven Brands by 30.5% in the 4th quarter. Federated Hermes Inc. now owns 8,727 shares of the company’s stock worth $129,000 after acquiring an additional 2,040 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group set a $18.00 target price on shares of Driven Brands in a research report on Monday, June 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $14.75 price objective on shares of Driven Brands in a research note on Wednesday, May 20th. Benchmark reiterated a “buy” rating on shares of Driven Brands in a report on Tuesday, May 26th. Freedom Capital raised Driven Brands to a “strong-buy” rating in a research report on Monday, March 23rd. Finally, Weiss Ratings upgraded Driven Brands from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.18.

Driven Brands Stock Performance

Shares of DRVN stock opened at $14.82 on Thursday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 13.23 and a beta of 0.96. The company’s 50 day moving average is $13.49 and its 200 day moving average is $13.77. The company has a quick ratio of 1.25, a current ratio of 1.38 and a debt-to-equity ratio of 2.08. Driven Brands Holdings Inc. has a 52-week low of $9.80 and a 52-week high of $19.74.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Thursday, June 11th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $484.44 million during the quarter, compared to analyst estimates of $480.84 million. Driven Brands had a return on equity of 25.70% and a net margin of 9.08%.Driven Brands’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. On average, sell-side analysts anticipate that Driven Brands Holdings Inc. will post 1.08 EPS for the current fiscal year.

Driven Brands Company Profile

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.