Driven Brands Holdings Inc. (NASDAQ:DRVN) Stake Reduced by SG Americas Securities LLC

SG Americas Securities LLC decreased its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 92.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,321 shares of the company’s stock after selling 114,210 shares during the period. SG Americas Securities LLC’s holdings in Driven Brands were worth $133,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Driven Brands during the first quarter valued at approximately $26,000. Innealta Capital LLC acquired a new stake in shares of Driven Brands during the 2nd quarter valued at $86,000. Norden Group LLC acquired a new stake in shares of Driven Brands during the 1st quarter valued at $182,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Driven Brands by 14.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock worth $219,000 after acquiring an additional 1,758 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Driven Brands in the 2nd quarter worth $312,000. Institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Up 0.1 %

Driven Brands stock opened at $14.53 on Friday. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $16.00. 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 firm has a market cap of $2.38 billion, a PE ratio of -3.12, a P/E/G ratio of 0.83 and a beta of 1.13. The firm’s 50 day moving average price is $14.27 and its two-hundred day moving average price is $13.22.

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

Analyst Upgrades and Downgrades

DRVN has been the subject of several analyst reports. Baird R W raised Driven Brands to a “strong-buy” rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their price objective on shares of Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and issued a $17.00 target price (up from $14.00) on shares of Driven Brands in a research report on Friday, August 2nd. Benchmark restated a “buy” rating and issued a $20.00 price target on shares of Driven Brands in a research report on Tuesday, August 20th. Finally, Canaccord Genuity Group raised their price objective on shares of Driven Brands from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Driven Brands has a consensus rating of “Moderate Buy” and a consensus target price of $16.95.

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.