Driven Brands Holdings Inc. (NASDAQ:DRVN) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC reduced its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 5.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,654 shares of the company’s stock after selling 1,006 shares during the period. Voya Investment Management LLC’s holdings in Driven Brands were worth $301,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. North Peak Capital Management LLC boosted its holdings in Driven Brands by 8.6% in the fourth quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company’s stock valued at $92,905,000 after purchasing an additional 457,217 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Driven Brands by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company’s stock valued at $92,134,000 after purchasing an additional 31,431 shares in the last quarter. Emeth Value Capital LLC purchased a new position in shares of Driven Brands during the 4th quarter valued at approximately $41,452,000. Dimensional Fund Advisors LP grew its position in shares of Driven Brands by 54.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company’s stock worth $19,141,000 after buying an additional 416,744 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Driven Brands by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 496,073 shares of the company’s stock worth $8,007,000 after acquiring an additional 4,062 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Driven Brands Stock Performance

DRVN stock opened at $17.69 on Monday. The stock’s fifty day moving average is $16.69 and its two-hundred day moving average is $16.34. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 442.25, a PEG ratio of 0.79 and a beta of 1.10. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. Driven Brands Holdings Inc. has a 1 year low of $10.64 and a 1 year high of $18.72.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm had revenue of $516.16 million for the quarter, compared to the consensus estimate of $492.19 million. During the same period last year, the firm posted $0.23 EPS. Driven Brands’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, research analysts predict that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Wall Street Analyst Weigh In

DRVN has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group boosted their price target on Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on Driven Brands in a research note on Thursday, March 13th. Piper Sandler lifted their price objective on shares of Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group increased their target price on shares of Driven Brands from $16.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Three research 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.78.

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.