Cambridge Investment Research Advisors Inc. Sells 21,699 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Cambridge Investment Research Advisors Inc. trimmed its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 21.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,347 shares of the company’s stock after selling 21,699 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Driven Brands were worth $1,394,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB increased its stake in Driven Brands by 23.9% during the first quarter. Handelsbanken Fonder AB now owns 30,100 shares of the company’s stock worth $516,000 after acquiring an additional 5,800 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Driven Brands by 25.3% during the first quarter. SG Americas Securities LLC now owns 17,194 shares of the company’s stock worth $295,000 after buying an additional 3,474 shares during the period. Rhumbline Advisers increased its position in shares of Driven Brands by 5.2% during the first quarter. Rhumbline Advisers now owns 86,478 shares of the company’s stock worth $1,482,000 after purchasing an additional 4,243 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Driven Brands by 1,989.5% during the first quarter. GAMMA Investing LLC now owns 24,802 shares of the company’s stock worth $425,000 after purchasing an additional 23,615 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Driven Brands by 260.7% in the 4th quarter. Mackenzie Financial Corp now owns 44,453 shares of the company’s stock valued at $717,000 after acquiring an additional 32,130 shares during the period. 77.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on DRVN shares. Wall Street Zen downgraded Driven Brands from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Robert W. Baird set a $25.00 target price on shares of Driven Brands in a research note on Thursday, March 13th. BTIG Research initiated coverage on shares of Driven Brands in a research note on Monday. They issued a “buy” rating and a $22.00 price target on the stock. Canaccord Genuity Group raised their price target on shares of Driven Brands from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Finally, The Goldman Sachs Group started coverage on shares of Driven Brands in a report on Tuesday, June 3rd. They issued a “neutral” rating and a $20.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Driven Brands Stock Up 0.9%

Driven Brands stock opened at $18.06 on Friday. Driven Brands Holdings Inc. has a fifty-two week low of $12.34 and a fifty-two week high of $18.72. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.33 and a current ratio of 1.47. The firm has a 50 day moving average price of $17.55 and a 200 day moving average price of $16.71. The company has a market capitalization of $2.97 billion, a PE ratio of -9.98, a price-to-earnings-growth ratio of 1.02 and a beta of 1.09.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. The business had revenue of $516.16 million during the quarter, compared to the consensus estimate of $492.19 million. Driven Brands had a negative net margin of 12.75% and a positive return on equity of 19.61%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Research analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current 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.