TimesSquare Capital Management LLC Sells 586,512 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

TimesSquare Capital Management LLC decreased its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 28.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,465,836 shares of the company’s stock after selling 586,512 shares during the period. TimesSquare Capital Management LLC owned approximately 0.89% of Driven Brands worth $20,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quent Capital LLC grew its position in Driven Brands by 17.1% during the fourth quarter. Quent Capital LLC now owns 8,921 shares of the company’s stock worth $127,000 after buying an additional 1,304 shares in the last quarter. Swiss National Bank grew its holdings in shares of Driven Brands by 1.0% during the 3rd quarter. Swiss National Bank now owns 147,300 shares of the company’s stock worth $1,855,000 after purchasing an additional 1,500 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Driven Brands by 126.9% in the fourth quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock worth $41,000 after purchasing an additional 1,594 shares during the period. CWM LLC raised its stake in Driven Brands by 16.8% in the fourth quarter. CWM LLC now owns 15,486 shares of the company’s stock valued at $221,000 after purchasing an additional 2,226 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Driven Brands by 27.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,391 shares of the company’s stock worth $131,000 after purchasing an additional 2,259 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

DRVN has been the topic of several recent analyst reports. Barclays decreased their target price on shares of Driven Brands from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday. Piper Sandler lowered their price objective on shares of Driven Brands from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. JPMorgan Chase & Co. cut Driven Brands from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $12.50 in a research note on Friday, May 3rd. Royal Bank of Canada decreased their price target on Driven Brands from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. Finally, The Goldman Sachs Group dropped their price objective on Driven Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.61.

Driven Brands Price Performance

DRVN stock traded up $0.09 during midday trading on Friday, reaching $11.35. 28,679 shares of the stock were exchanged, compared to its average volume of 1,220,974. Driven Brands Holdings Inc. has a 52 week low of $10.59 and a 52 week high of $28.51. The company has a fifty day moving average price of $14.39 and a 200 day moving average price of $13.54. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.92 and a quick ratio of 1.73. The stock has a market capitalization of $1.86 billion, a PE ratio of -2.42, a P/E/G ratio of 0.72 and a beta of 1.19.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $553.70 million for the quarter, compared to analysts’ expectations of $572.92 million. Driven Brands had a positive return on equity of 11.38% and a negative net margin of 33.30%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 earnings per share. As a group, analysts expect that Driven Brands Holdings Inc. will post 0.88 EPS for the current fiscal year.

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.