Driven Brands Holdings Inc. (NASDAQ:DRVN) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 73.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,277 shares of the company’s stock after selling 37,480 shares during the period. Cresset Asset Management LLC’s holdings in Driven Brands were worth $214,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DRVN. Blue Trust Inc. increased its position in Driven Brands by 600.5% during the fourth quarter. Blue Trust Inc. now owns 9,198 shares of the company’s stock worth $148,000 after buying an additional 7,885 shares in the last quarter. LPL Financial LLC purchased a new position in Driven Brands during the fourth quarter worth $178,000. BNP Paribas Financial Markets purchased a new position in Driven Brands during the fourth quarter worth $205,000. SBI Securities Co. Ltd. purchased a new position in Driven Brands during the fourth quarter worth $215,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Driven Brands during the fourth quarter worth $216,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Price Performance

Shares of Driven Brands stock opened at $18.20 on Monday. Driven Brands Holdings Inc. has a twelve month low of $10.64 and a twelve month high of $18.72. The stock has a market capitalization of $2.99 billion, a P/E ratio of 455.00, a PEG ratio of 0.79 and a beta of 1.10. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The business’s fifty day moving average price is $16.88 and its 200 day moving average price is $16.46.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DRVN shares. BMO Capital Markets raised their price target on Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Piper Sandler lifted their price objective on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on Driven Brands in a research report on Thursday, March 13th. Finally, Canaccord Genuity Group lifted their price objective on Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.