Signaturefd LLC Sells 5,701 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Signaturefd LLC lowered its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 50.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,681 shares of the company’s stock after selling 5,701 shares during the period. Signaturefd LLC’s holdings in Driven Brands were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in DRVN. Russell Investments Group Ltd. raised its stake in Driven Brands by 77.6% during the 4th quarter. Russell Investments Group Ltd. now owns 232,360 shares of the company’s stock worth $3,313,000 after buying an additional 101,535 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Driven Brands by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 354,542 shares of the company’s stock worth $5,056,000 after purchasing an additional 17,252 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Driven Brands in the 4th quarter valued at $413,000. Boston Partners increased its stake in Driven Brands by 30.2% during the 4th quarter. Boston Partners now owns 47,908 shares of the company’s stock valued at $683,000 after purchasing an additional 11,101 shares in the last quarter. Finally, Norges Bank bought a new stake in Driven Brands during the 4th quarter valued at $18,583,000. Institutional investors own 77.08% of the company’s stock.

Driven Brands Price Performance

Shares of NASDAQ:DRVN opened at $13.98 on Thursday. Driven Brands Holdings Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $16.00. The company’s 50-day moving average is $13.42 and its 200 day moving average is $13.29. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.91 and a current ratio of 2.11. The company has a market capitalization of $2.29 billion, a P/E ratio of -3.00, a price-to-earnings-growth ratio of 0.86 and a beta of 1.12.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.07. The company had revenue of $611.60 million during the quarter, compared to analyst estimates of $628.34 million. Driven Brands had a negative net margin of 33.56% and a positive return on equity of 15.12%. Driven Brands’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. On average, equities research analysts forecast that Driven Brands Holdings Inc. will post 0.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DRVN. Piper Sandler reiterated an “overweight” rating and set a $17.00 price objective (up from $14.00) on shares of Driven Brands in a report on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. BMO Capital Markets started coverage on Driven Brands in a report on Monday, July 22nd. They issued a “market perform” rating and a $14.00 target price on the stock. Robert W. Baird upped their price target on Driven Brands from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Baird R W upgraded Driven Brands to a “strong-buy” rating in a research note on Friday, August 2nd. Four 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 stock. According to data from MarketBeat, Driven Brands presently has an average rating of “Moderate Buy” and a consensus target price of $17.95.

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.