Driven Brands Holdings Inc. $DRVN Shares Sold by Emeth Value Capital LLC

Emeth Value Capital LLC reduced its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,421,243 shares of the company’s stock after selling 22,527 shares during the quarter. Driven Brands comprises 37.8% of Emeth Value Capital LLC’s portfolio, making the stock its biggest position. Emeth Value Capital LLC owned 1.47% of Driven Brands worth $42,517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of DRVN. Principal Financial Group Inc. acquired a new position in shares of Driven Brands in the 1st quarter valued at approximately $2,850,000. Yorktown Management & Research Co Inc acquired a new position in shares of Driven Brands in the 1st quarter valued at approximately $255,000. Northern Trust Corp grew its position in shares of Driven Brands by 5.4% in the 1st quarter. Northern Trust Corp now owns 609,645 shares of the company’s stock valued at $10,449,000 after purchasing an additional 31,430 shares during the period. Informed Momentum Co LLC acquired a new position in shares of Driven Brands in the 1st quarter valued at approximately $3,444,000. Finally, Russell Investments Group Ltd. grew its position in shares of Driven Brands by 11.7% in the 1st quarter. Russell Investments Group Ltd. now owns 191,435 shares of the company’s stock valued at $3,281,000 after purchasing an additional 20,044 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $18.05, for a total transaction of $1,985,500.00. Following the sale, the director owned 2,279,453 shares in the company, valued at $41,144,126.65. This represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DRVN shares. Zacks Research upgraded Driven Brands to a “hold” rating in a research report on Friday, August 8th. JPMorgan Chase & Co. upgraded Driven Brands from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $23.00 in a research report on Wednesday, August 6th. Wall Street Zen lowered Driven Brands from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Driven Brands in a research report on Saturday, September 27th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $24.00 target price on shares of Driven Brands in a research note on Thursday, September 18th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Driven Brands Trading Down 0.2%

NASDAQ DRVN opened at $14.30 on Monday. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -8.41, a PEG ratio of 0.86 and a beta of 1.06. The stock’s 50 day moving average price is $17.09 and its two-hundred day moving average price is $17.15. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.01 and a current ratio of 1.11. Driven Brands Holdings Inc. has a 52 week low of $13.47 and a 52 week high of $19.74.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.The firm had revenue of $564.12 million for the quarter. As a group, analysts anticipate that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal 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.