Cinctive Capital Management LP Grows Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Cinctive Capital Management LP boosted its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 27.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,099 shares of the company’s stock after buying an additional 25,473 shares during the period. Cinctive Capital Management LP’s holdings in Driven Brands were worth $1,700,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Driven Brands by 14.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock valued at $219,000 after acquiring an additional 1,758 shares during the period. SG Americas Securities LLC increased its holdings in Driven Brands by 396.7% in the 2nd quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock valued at $1,573,000 after purchasing an additional 98,662 shares during the last quarter. Wedmont Private Capital raised its position in Driven Brands by 255.8% in the second quarter. Wedmont Private Capital now owns 37,213 shares of the company’s stock valued at $485,000 after purchasing an additional 26,755 shares during the period. Bank of New York Mellon Corp lifted its stake in Driven Brands by 39.2% during the second quarter. Bank of New York Mellon Corp now owns 233,040 shares of the company’s stock worth $2,967,000 after purchasing an additional 65,567 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Driven Brands by 6.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 99,282 shares of the company’s stock worth $1,264,000 after buying an additional 6,159 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Down 0.6 %

Driven Brands stock opened at $16.87 on Wednesday. The stock has a market cap of $2.77 billion, a PE ratio of 421.75, a P/E/G ratio of 1.13 and a beta of 1.15. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The stock’s fifty day moving average is $15.25 and its two-hundred day moving average is $13.72. Driven Brands Holdings Inc. has a 1-year low of $10.59 and a 1-year high of $17.35.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $591.70 million during the quarter, compared to the consensus estimate of $598.49 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 earnings per share. On average, sell-side analysts expect that Driven Brands Holdings Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DRVN shares. Stifel Nicolaus increased their target price on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Benchmark reissued a “buy” rating and set a $20.00 price target on shares of Driven Brands in a research report on Tuesday, August 20th. Canaccord Genuity Group upped their target price on shares of Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada raised their price target on shares of Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Driven Brands has a consensus rating of “Moderate Buy” and an average price target of $17.86.

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.