D. E. Shaw & Co. Inc. Sells 258,068 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

D. E. Shaw & Co. Inc. reduced its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 51.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 245,271 shares of the company’s stock after selling 258,068 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.15% of Driven Brands worth $3,959,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. North Peak Capital Management LLC lifted its position in shares of Driven Brands by 8.6% during the 4th quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company’s stock worth $92,905,000 after buying an additional 457,217 shares during the last quarter. Vanguard Group Inc. increased its holdings in Driven Brands by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company’s stock worth $92,134,000 after purchasing an additional 31,431 shares in the last quarter. Bamco Inc. NY raised its position in Driven Brands by 35.7% in the fourth quarter. Bamco Inc. NY now owns 4,750,000 shares of the company’s stock valued at $76,665,000 after purchasing an additional 1,250,000 shares during the last quarter. Emeth Value Capital LLC bought a new position in Driven Brands in the fourth quarter valued at about $41,452,000. Finally, Dimensional Fund Advisors LP raised its position in Driven Brands by 54.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company’s stock valued at $19,141,000 after purchasing an additional 416,744 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on DRVN. Benchmark began coverage on Driven Brands in a research report on Friday, April 4th. They issued a “buy” rating and a $22.00 target price for the company. Canaccord Genuity Group increased their target price on Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 target price on Driven Brands in a research report on Thursday, March 13th. BMO Capital Markets increased their target price on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Finally, Piper Sandler increased their price target on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.78.

Driven Brands Trading Up 0.8%

Shares of DRVN stock opened at $18.20 on Friday. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 455.00, a PEG ratio of 0.79 and a beta of 1.10. The stock has a 50-day moving average of $16.88 and a 200-day moving average of $16.45. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. Driven Brands Holdings Inc. has a 1-year low of $10.64 and a 1-year high of $18.72.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 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 $516.16 million during the quarter, compared to analysts’ expectations of $492.19 million. During the same quarter last year, the firm posted $0.23 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that Driven Brands Holdings Inc. will post 0.85 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.