Trexquant Investment LP Trims Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Trexquant Investment LP decreased its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 36.5% during the fourth quarter, Holdings Channel reports. The fund owned 22,755 shares of the company’s stock after selling 13,077 shares during the period. Trexquant Investment LP’s holdings in Driven Brands were worth $367,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of DRVN. Emeth Value Capital LLC bought a new position in shares of Driven Brands in the 4th quarter worth approximately $41,452,000. Boston Partners bought a new position in Driven Brands in the fourth quarter worth approximately $2,123,000. Norges Bank purchased a new position in shares of Driven Brands during the 4th quarter worth $1,742,000. Arrowstreet Capital Limited Partnership grew its position in shares of Driven Brands by 687.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 114,327 shares of the company’s stock valued at $1,845,000 after acquiring an additional 99,811 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of 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 worth $4,108,000 after purchasing an additional 78,252 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on DRVN shares. JPMorgan Chase & Co. boosted their price target on Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Benchmark started coverage on shares of Driven Brands in a report on Friday, April 4th. They issued a “buy” rating and a $22.00 target price for the company. 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 shares of Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, BMO Capital Markets lifted their target price on shares of Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Driven Brands Stock Up 0.5 %

Shares of DRVN stock opened at $16.12 on Monday. The stock has a market cap of $2.64 billion, a P/E ratio of 403.00, a PEG ratio of 0.79 and a beta of 1.09. The company’s fifty day simple moving average is $16.43 and its two-hundred day simple moving average is $15.99. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. Driven Brands Holdings Inc. has a 52 week low of $10.59 and a 52 week high of $18.01.

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

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.