Hsbc Holdings PLC Has $212,000 Stock Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Hsbc Holdings PLC cut its holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 50.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,773 shares of the company’s stock after selling 17,070 shares during the quarter. Hsbc Holdings PLC’s holdings in Driven Brands were worth $212,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC lifted its stake in 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. CastleKnight Management LP lifted its stake in Driven Brands by 11.3% in the 4th quarter. CastleKnight Management LP now owns 146,100 shares of the company’s stock valued at $2,083,000 after acquiring an additional 14,800 shares in the last quarter. Grizzlyrock Capital LLC bought a new stake in Driven Brands in the 4th quarter valued at approximately $2,311,000. GAMMA Investing LLC lifted its stake in Driven Brands by 49.3% in the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock valued at $43,000 after acquiring an additional 904 shares in the last quarter. Finally, Wedmont Private Capital bought a new stake in Driven Brands in the 1st quarter valued at approximately $159,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Driven Brands Stock Up 0.5 %

DRVN opened at $14.51 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.91 and a debt-to-equity ratio of 3.03. The stock’s fifty day simple moving average is $14.01 and its 200 day simple moving average is $13.33. Driven Brands Holdings Inc. has a 1-year low of $10.59 and a 1-year high of $16.00. The stock has a market cap of $2.38 billion, a PE ratio of -3.11, a price-to-earnings-growth ratio of 0.89 and a beta of 1.13.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. Driven Brands had a positive return on equity of 15.12% and a negative net margin of 33.56%. The firm had revenue of $611.60 million for the quarter, compared to analyst estimates of $628.34 million. During the same period in the prior year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts expect that Driven Brands Holdings Inc. will post 0.88 earnings per share for the current year.

Wall Street Analyst Weigh In

DRVN has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $20.00 price objective on shares of Driven Brands in a research note on Tuesday, August 20th. Robert W. Baird upped their price objective on Driven Brands from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. BMO Capital Markets initiated coverage on Driven Brands in a research note on Monday, July 22nd. They set a “market perform” rating and a $14.00 price objective on the stock. The Goldman Sachs Group upped their price objective on Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $17.00 price objective (up previously from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Driven Brands currently has an average rating of “Moderate Buy” and a consensus price target 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.