Driven Brands Holdings Inc. (NASDAQ:DRVN) Shares Sold by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. reduced its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,333 shares of the company’s stock after selling 6,554 shares during the period. Landscape Capital Management L.L.C.’s holdings in Driven Brands were worth $1,135,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. ExodusPoint Capital Management LP acquired a new stake in shares of Driven Brands in the fourth quarter valued at about $230,000. Rangeley Capital LLC acquired a new stake in Driven Brands in the fourth quarter valued at approximately $694,000. Alliancebernstein L.P. raised its stake in shares of Driven Brands by 8.5% during the fourth quarter. Alliancebernstein L.P. now owns 78,731 shares of the company’s stock valued at $1,271,000 after purchasing an additional 6,200 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Driven Brands by 687.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 114,327 shares of the company’s stock worth $1,845,000 after purchasing an additional 99,811 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Driven Brands in the fourth quarter valued at $1,742,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Stock Performance

Shares of DRVN opened at $16.10 on Friday. The stock has a market capitalization of $2.64 billion, a PE ratio of 402.50, a price-to-earnings-growth ratio of 0.79 and a beta of 1.09. The business’s fifty day moving average price is $16.54 and its 200 day moving average price is $15.94. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. Driven Brands Holdings Inc. has a 12-month low of $10.59 and a 12-month high of $18.01.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $572.95 million. During the same period last year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts forecast that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Analyst Upgrades and Downgrades

DRVN has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price objective on shares of Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Piper Sandler increased their price target on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Canaccord Genuity Group raised their price objective on Driven Brands from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Benchmark began coverage on Driven Brands in a research note on Friday. They set a “buy” rating and a $22.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Driven Brands has an average rating of “Moderate Buy” and an average price target of $20.50.

Driven Brands 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.