Sei Investments Co. Lowers Stock Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Sei Investments Co. cut its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 22.7% during the 4th quarter, Holdings Channel reports. The firm owned 58,222 shares of the company’s stock after selling 17,141 shares during the quarter. Sei Investments Co.’s holdings in Driven Brands were worth $940,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Emeth Value Capital LLC purchased a new position in shares of Driven Brands in the 4th quarter worth approximately $41,452,000. Boston Partners purchased a new position in Driven Brands in the fourth quarter worth $2,123,000. Bank of New York Mellon Corp grew its stake in Driven Brands by 44.4% in the 4th quarter. Bank of New York Mellon Corp now owns 254,542 shares of the company’s stock valued at $4,108,000 after purchasing an additional 78,252 shares during the period. Barclays PLC increased its position in shares of Driven Brands by 36.0% during the 3rd quarter. Barclays PLC now owns 205,068 shares of the company’s stock valued at $2,928,000 after purchasing an additional 54,277 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Driven Brands by 2.2% during the 3rd quarter. State Street Corp now owns 1,424,332 shares of the company’s stock worth $20,325,000 after purchasing an additional 30,852 shares during the period. 77.08% of the stock is owned by institutional investors.

Driven Brands Stock Performance

Shares of DRVN opened at $15.43 on Tuesday. Driven Brands Holdings Inc. has a 52-week low of $10.59 and a 52-week high of $18.01. The stock’s 50-day simple moving average is $16.52 and its 200 day simple moving average is $15.96. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 385.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.09.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target 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. Robert W. Baird set a $25.00 price target on shares of Driven Brands in a report on Thursday, March 13th. Piper Sandler increased their price objective on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Benchmark started coverage on Driven Brands in a research note on Friday. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Canaccord Genuity Group increased their price target on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.50.

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.