Blueshift Asset Management LLC Sells 52,667 Shares of Driven Brands Holdings Inc. $DRVN

Blueshift Asset Management LLC reduced its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 78.3% during the second quarter, Holdings Channel.com reports. The fund owned 14,563 shares of the company’s stock after selling 52,667 shares during the quarter. Blueshift Asset Management LLC’s holdings in Driven Brands were worth $256,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DRVN. Summit Securities Group LLC bought a new stake in shares of Driven Brands during the first quarter valued at approximately $72,000. XTX Topco Ltd purchased a new position in Driven Brands during the 1st quarter worth $182,000. AlphaQuest LLC increased its holdings in Driven Brands by 64.1% during the 2nd quarter. AlphaQuest LLC now owns 11,246 shares of the company’s stock worth $197,000 after purchasing an additional 4,394 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Driven Brands during the 2nd quarter valued at $223,000. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Driven Brands by 12.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 14,027 shares of the company’s stock worth $246,000 after buying an additional 1,500 shares during the period. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Stock Up 1.6%

NASDAQ:DRVN opened at $15.34 on Friday. The company’s 50-day simple moving average is $14.88 and its 200-day simple moving average is $16.60. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.80 and a current ratio of 0.90. Driven Brands Holdings Inc. has a fifty-two week low of $13.44 and a fifty-two week high of $19.74. The stock has a market capitalization of $2.52 billion, a P/E ratio of -12.37, a P/E/G ratio of 0.86 and a beta of 1.04.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter. The company had revenue of $564.12 million during the quarter. Driven Brands had a negative net margin of 9.14% and a positive return on equity of 25.31%. On average, equities analysts anticipate that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on DRVN. Stifel Nicolaus set a $23.00 price target on Driven Brands in a research note on Monday, November 17th. Benchmark reiterated a “buy” rating on shares of Driven Brands in a report on Wednesday. William Blair upgraded shares of Driven Brands from a “market perform” rating to an “outperform” rating in a report on Wednesday. Canaccord Genuity Group reiterated a “buy” rating and set a $24.00 price objective on shares of Driven Brands in a research note on Thursday, September 18th. Finally, BTIG Research reduced their price objective on shares of Driven Brands from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.22.

Insider Buying and Selling at Driven Brands

In other news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $18.05, for a total value of $1,985,500.00. Following the completion of the sale, the director owned 2,279,453 shares of the company’s stock, valued at $41,144,126.65. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.50% of the stock is owned by insiders.

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.