Rhumbline Advisers Decreases Stake in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Rhumbline Advisers cut its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,235 shares of the company’s stock after selling 1,356 shares during the quarter. Rhumbline Advisers owned approximately 0.05% of Driven Brands worth $1,327,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Emeth Value Capital LLC bought a new stake in Driven Brands during the 4th quarter valued at $41,452,000. Scopia Capital Management LP purchased a new stake in shares of Driven Brands in the third quarter worth $16,890,000. Bamco Inc. NY boosted its stake in Driven Brands by 16.7% during the third quarter. Bamco Inc. NY now owns 3,500,000 shares of the company’s stock valued at $49,945,000 after buying an additional 500,000 shares during the period. HG Vora Capital Management LLC boosted its stake in Driven Brands by 4.9% during the third quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company’s stock valued at $107,738,000 after buying an additional 350,000 shares during the period. Finally, Edgestream Partners L.P. grew its position in Driven Brands by 247.1% during the third quarter. Edgestream Partners L.P. now owns 222,525 shares of the company’s stock worth $3,175,000 after buying an additional 158,412 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Driven Brands Price Performance

DRVN opened at $16.48 on Thursday. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The stock’s 50 day simple moving average is $16.07 and its 200 day simple moving average is $15.50. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 412.00, a PEG ratio of 0.79 and a beta of 1.13. Driven Brands Holdings Inc. has a 1 year low of $10.59 and a 1 year high of $18.01.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 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 the consensus estimate of $572.95 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, analysts predict that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DRVN. Piper Sandler lifted their price target on 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. lifted their target price on shares of Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. BMO Capital Markets increased their price target on shares of Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Stifel Nicolaus lifted their price objective on shares of Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Canaccord Genuity Group upped their target price 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. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.