Beck Bode LLC Takes Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Beck Bode LLC bought a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the fourth quarter, Holdings Channel.com reports. The firm bought 17,658 shares of the company’s stock, valued at approximately $252,000.

Other large investors have also modified their holdings of the company. Cooper Creek Partners Management LLC purchased a new position in Driven Brands during the 3rd quarter valued at about $22,402,000. Algert Global LLC acquired a new position in Driven Brands in the third quarter valued at $8,716,000. AQR Capital Management LLC lifted its position in Driven Brands by 7,230.1% during the 3rd quarter. AQR Capital Management LLC now owns 657,799 shares of the company’s stock worth $8,282,000 after acquiring an additional 648,825 shares during the period. Qube Research & Technologies Ltd grew its position in Driven Brands by 469.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 668,001 shares of the company’s stock valued at $8,410,000 after buying an additional 550,781 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in Driven Brands in the third quarter valued at about $3,663,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Up 0.2 %

Shares of DRVN stock traded up $0.03 during trading hours on Wednesday, reaching $14.36. 51,510 shares of the stock traded hands, compared to its average volume of 1,081,760. Driven Brands Holdings Inc. has a 1-year low of $10.60 and a 1-year high of $30.75. The company has a quick ratio of 1.73, a current ratio of 1.92 and a debt-to-equity ratio of 3.21. The business has a fifty day moving average price of $14.62 and a 200 day moving average price of $13.52.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Driven Brands had a negative net margin of 32.33% and a positive return on equity of 11.00%. The firm had revenue of $553.70 million for the quarter, compared to the consensus estimate of $572.92 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts predict that Driven Brands Holdings Inc. will post 0.88 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on DRVN. JPMorgan Chase & Co. lowered their target price on Driven Brands from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, February 20th. Royal Bank of Canada lowered their price target on Driven Brands from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, February 26th. Piper Sandler decreased their price target on shares of Driven Brands from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 26th. Canaccord Genuity Group boosted their price target on shares of Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Morgan Stanley cut shares of Driven Brands from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $22.00 to $14.00 in a report on Tuesday, January 16th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.89.

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.