65,000 Driven Brands Holdings Inc. $DRVN Shares Sold by DBA Trading LLC

DBA Trading LLC lessened its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 43.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 85,000 shares of the company’s stock after selling 65,000 shares during the period. Driven Brands accounts for approximately 1.7% of DBA Trading LLC’s portfolio, making the stock its 15th biggest position. DBA Trading LLC owned about 0.05% of Driven Brands worth $1,004,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bfsg LLC grew its holdings in shares of Driven Brands by 22.2% in the third quarter. Bfsg LLC now owns 10,094 shares of the company’s stock valued at $119,000 after purchasing an additional 1,835 shares during the period. Pictet Asset Management Holding SA purchased a new position in Driven Brands during the first quarter worth about $159,000. Vise Technologies Inc. purchased a new position in Driven Brands during the second quarter worth about $248,000. Engineers Gate Manager LP purchased a new position in Driven Brands during the second quarter worth about $310,000. Finally, Calamos Advisors LLC acquired a new position in Driven Brands in the 1st quarter valued at about $285,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Down 1.3%

Driven Brands stock opened at $12.10 on Wednesday. The company has a market capitalization of $2.00 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 2.67 and a beta of 0.91. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.33 and a current ratio of 1.47. Driven Brands Holdings Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $17.30. The firm has a 50 day moving average price of $12.09 and a 200 day moving average price of $13.18.

Wall Street Analyst Weigh In

DRVN has been the subject of several analyst reports. Canaccord Genuity Group cut shares of Driven Brands from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Tuesday, November 3rd. Morgan Stanley set a $14.00 price target on shares of Driven Brands in a research report on Friday, August 7th. UBS Group reaffirmed a “buy” rating on shares of Driven Brands in a research report on Thursday, September 10th. Royal Bank Of Canada decreased their price objective on Driven Brands from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Finally, Weiss Ratings lowered Driven Brands from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, September 28th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Driven Brands currently has an average rating of “Hold” and a consensus price target of $15.48.

Driven Brands Profile

Driven Brands Holdings Inc. is an automotive aftermarket services company headquartered in Charlotte, North Carolina. It operates and franchises service centers under brands including Take 5 Oil Change, Meineke Car Care Centers, Maaco, CARSTAR and Auto Glass Now. The company provides a range of vehicle services, including oil changes and preventive maintenance, mechanical repairs, collision repair and refinishing, and auto glass replacement. Through 1-800-Radiator & A/C, it also distributes heating and cooling parts to repair shops and other customers.