Interval Partners LP Trims Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Interval Partners LP reduced its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 78.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,741 shares of the company’s stock after selling 452,881 shares during the quarter. Interval Partners LP owned about 0.08% of Driven Brands worth $1,626,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Driven Brands during the 1st quarter valued at $26,000. GAMMA Investing LLC grew its position in Driven Brands by 49.3% during the first quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after buying an additional 904 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Driven Brands by 579.2% in the 4th quarter. Parallel Advisors LLC now owns 3,437 shares of the company’s stock valued at $49,000 after acquiring an additional 2,931 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Driven Brands during the 2nd quarter valued at about $86,000. Finally, Wedmont Private Capital purchased a new position in shares of Driven Brands during the first quarter worth about $159,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Trading Down 0.3 %

NASDAQ DRVN opened at $14.80 on Tuesday. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.91 and a current ratio of 2.11. Driven Brands Holdings Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $16.00. The stock has a market cap of $2.43 billion, a P/E ratio of -3.18, a price-to-earnings-growth ratio of 0.82 and a beta of 1.13. The stock has a 50 day simple moving average of $13.76 and a two-hundred day simple moving average of $13.33.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DRVN shares. Baird R W raised Driven Brands to a “strong-buy” rating in a research note on Friday, August 2nd. BMO Capital Markets began coverage on shares of Driven Brands in a research report on Monday, July 22nd. They set a “market perform” rating and a $14.00 price target on the stock. Benchmark restated a “buy” rating and issued a $20.00 price objective on shares of Driven Brands in a report on Tuesday, August 20th. Canaccord Genuity Group upped their price target on shares of Driven Brands from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada lifted their price objective on Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Four investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.95.

Driven Brands 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.