Proficio Capital Partners LLC Acquires Shares of 23,258 Driven Brands Holdings Inc. (NASDAQ:DRVN)

Proficio Capital Partners LLC bought a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 23,258 shares of the company’s stock, valued at approximately $375,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DRVN. Blue Trust Inc. raised its position in shares of Driven Brands by 600.5% in the 4th quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock valued at $148,000 after buying an additional 7,885 shares in the last quarter. Townsquare Capital LLC acquired a new position in shares of Driven Brands in the 3rd quarter valued at approximately $153,000. SG Americas Securities LLC raised its position in shares of Driven Brands by 47.2% in the 4th quarter. SG Americas Securities LLC now owns 13,720 shares of the company’s stock valued at $221,000 after buying an additional 4,399 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Driven Brands by 54.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 16,398 shares of the company’s stock valued at $234,000 after buying an additional 5,815 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Driven Brands in the 3rd quarter valued at approximately $245,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Driven Brands Trading Down 0.5 %

Shares of NASDAQ DRVN opened at $15.98 on Tuesday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. Driven Brands Holdings Inc. has a 52-week low of $10.59 and a 52-week high of $18.01. The firm has a 50 day moving average price of $16.05 and a two-hundred day moving average price of $15.56. The stock has a market cap of $2.62 billion, a P/E ratio of 399.50, a price-to-earnings-growth ratio of 0.79 and a beta of 1.13.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm had revenue of $564.12 million during the quarter, compared to analysts’ expectations of $572.95 million. During the same period in the prior year, the company posted $0.19 EPS. The company’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts forecast that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Analysts Set New Price Targets

DRVN has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group upped their price objective on shares of Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Stifel Nicolaus upped their price objective on shares of Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets upped their price objective on shares of Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.60.

About Driven Brands

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.