Driven Brands Holdings Inc. $DRVN Shares Sold by Western Standard LLC

Western Standard LLC lessened its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 56.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 303,413 shares of the company’s stock after selling 390,000 shares during the period. Driven Brands accounts for about 2.1% of Western Standard LLC’s holdings, making the stock its 14th biggest position. Western Standard LLC’s holdings in Driven Brands were worth $4,497,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in DRVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Driven Brands by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock valued at $610,000 after acquiring an additional 1,493 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Driven Brands by 22.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 139,321 shares of the company’s stock valued at $2,388,000 after acquiring an additional 25,806 shares during the period. New York State Common Retirement Fund increased its position in Driven Brands by 10.0% in the 2nd quarter. New York State Common Retirement Fund now owns 16,511 shares of the company’s stock valued at $290,000 after acquiring an additional 1,500 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Driven Brands by 95.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 255,156 shares of the company’s stock valued at $4,481,000 after acquiring an additional 124,556 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Driven Brands by 744.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after acquiring an additional 1,854 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Price Performance

Shares of NASDAQ:DRVN opened at $13.75 on Friday. The business’s 50 day simple moving average is $12.03 and its 200-day simple moving average is $14.14. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -11.09 and a beta of 0.97. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.90 and a quick ratio of 0.80. Driven Brands Holdings Inc. has a 12 month low of $9.80 and a 12 month high of $19.74.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. William Blair lowered Driven Brands from an “outperform” rating to a “hold” rating in a report on Wednesday, April 22nd. Zacks Research raised Driven Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Morgan Stanley lowered their price objective on Driven Brands from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Driven Brands in a report on Friday, March 27th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Driven Brands in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Driven Brands presently has a consensus rating of “Hold” and an average target price of $19.00.

About Driven Brands

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.