Boothbay Fund Management LLC Sells 108,677 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Boothbay Fund Management LLC cut its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 42.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 148,124 shares of the company’s stock after selling 108,677 shares during the period. Boothbay Fund Management LLC’s holdings in Driven Brands were worth $2,391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of DRVN. Blue Trust Inc. boosted its stake 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 acquired a new stake in shares of Driven Brands during the 4th quarter valued at about $178,000. SBI Securities Co. Ltd. bought a new stake in Driven Brands in the fourth quarter valued at about $215,000. KLP Kapitalforvaltning AS bought a new stake in Driven Brands in the fourth quarter valued at about $216,000. Finally, SG Americas Securities LLC raised its position in Driven Brands by 47.2% in the fourth quarter. SG Americas Securities LLC now owns 13,720 shares of the company’s stock worth $221,000 after purchasing an additional 4,399 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Driven Brands Stock Performance

Shares of NASDAQ:DRVN opened at $16.34 on Monday. The business has a fifty day moving average of $16.42 and a 200-day moving average of $16.13. The firm has a market cap of $2.68 billion, a PE ratio of 408.50, a price-to-earnings-growth ratio of 0.79 and a beta of 1.09. 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 twelve month low of $10.59 and a twelve month high of $18.01.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DRVN shares. Robert W. Baird set a $25.00 price objective on Driven Brands in a research note on Thursday, March 13th. JPMorgan Chase & Co. upped their price target on Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group increased their price objective on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Piper Sandler boosted their target price on shares of Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Benchmark began coverage on shares of Driven Brands in a research report on Friday, April 4th. They set a “buy” rating and a $22.00 target price for the company. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

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.