Creative Planning Sells 21,457 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Creative Planning lowered its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 41.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,394 shares of the company’s stock after selling 21,457 shares during the period. Creative Planning’s holdings in Driven Brands were worth $387,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Bamco Inc. NY lifted its position in Driven Brands by 14.3% during the 1st quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock valued at $31,580,000 after acquiring an additional 250,000 shares during the period. AQR Capital Management LLC grew its position in Driven Brands by 79.9% during the second quarter. AQR Capital Management LLC now owns 929,073 shares of the company’s stock valued at $11,483,000 after buying an additional 412,547 shares during the period. Hood River Capital Management LLC purchased a new position in Driven Brands during the first quarter valued at approximately $13,323,000. Marshall Wace LLP lifted its holdings in Driven Brands by 516.2% during the second quarter. Marshall Wace LLP now owns 612,436 shares of the company’s stock valued at $7,796,000 after purchasing an additional 513,045 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Driven Brands by 15.3% in the second quarter. Squarepoint Ops LLC now owns 241,306 shares of the company’s stock worth $3,072,000 after buying an additional 31,978 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Driven Brands Trading Up 1.7 %

Shares of DRVN stock opened at $14.73 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 stock has a market cap of $2.42 billion, a P/E ratio of -3.16, a P/E/G ratio of 0.83 and a beta of 1.13. The business has a fifty day simple moving average of $14.11 and a 200-day simple moving average of $13.25. The company has a quick ratio of 1.91, a current ratio of 2.11 and a debt-to-equity ratio of 3.03.

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 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 last year, the company earned $0.27 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts forecast that Driven Brands Holdings Inc. will post 0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DRVN. Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of Driven Brands in a research note on Tuesday, August 20th. The Goldman Sachs Group raised their target price on shares of Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Piper Sandler restated an “overweight” rating and issued a $17.00 price target (up from $14.00) on shares of Driven Brands in a report on Friday, August 2nd. Royal Bank of Canada lifted their target price on shares of Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group raised their price target on shares of Driven Brands from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.95.

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.