Walleye Capital LLC Takes Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Walleye Capital LLC acquired a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVNGet Rating) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 61,620 shares of the company’s stock, valued at approximately $1,619,000.

Several other hedge funds also recently modified their holdings of the stock. Teacher Retirement System of Texas grew its holdings in shares of Driven Brands by 6.3% in the 1st quarter. Teacher Retirement System of Texas now owns 10,280 shares of the company’s stock valued at $270,000 after acquiring an additional 611 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Driven Brands by 15.2% in the 1st quarter. Victory Capital Management Inc. now owns 7,577 shares of the company’s stock valued at $211,000 after acquiring an additional 1,002 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Driven Brands by 18.6% in the 1st quarter. Citigroup Inc. now owns 6,598 shares of the company’s stock valued at $173,000 after acquiring an additional 1,034 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Driven Brands in the 1st quarter valued at about $28,000. Finally, Sei Investments Co. grew its holdings in shares of Driven Brands by 1.6% in the 1st quarter. Sei Investments Co. now owns 71,000 shares of the company’s stock valued at $1,866,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors own 33.09% of the company’s stock.

Driven Brands Trading Down 2.3 %

Shares of NASDAQ:DRVN opened at $32.26 on Friday. Driven Brands Holdings Inc. has a 52-week low of $24.62 and a 52-week high of $35.45. The company has a market capitalization of $5.40 billion, a P/E ratio of -179.21, a price-to-earnings-growth ratio of 1.56 and a beta of 0.57. The company has a 50-day simple moving average of $31.20 and a 200 day simple moving average of $28.69. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.02 and a current ratio of 1.14.

Driven Brands (NASDAQ:DRVNGet Rating) last issued its earnings results on Wednesday, July 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. Driven Brands had a negative net margin of 1.62% and a positive return on equity of 10.64%. The business had revenue of $508.60 million during the quarter, compared to the consensus estimate of $480.37 million. During the same period last year, the business posted $0.25 EPS. Driven Brands’s revenue was up 35.7% on a year-over-year basis. Sell-side analysts forecast that Driven Brands Holdings Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Separately, Morgan Stanley raised their target price on shares of Driven Brands from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, August 1st.

Insider Activity at Driven Brands

In other Driven Brands news, EVP Michael G. Macaluso sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $31.46, for a total transaction of $503,360.00. Following the completion of the sale, the executive vice president now directly owns 318,094 shares in the company, valued at $10,007,237.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Driven Brands news, EVP Michael G. Macaluso sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $31.46, for a total transaction of $503,360.00. Following the completion of the sale, the executive vice president now directly owns 318,094 shares in the company, valued at $10,007,237.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Rc Iv Cayman Icw Holdings Llc sold 2,257,203 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $32.19, for a total transaction of $72,659,364.57. Following the sale, the insider now owns 14,056,415 shares of the company’s stock, valued at $452,475,998.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,273,203 shares of company stock worth $298,492,725. Insiders own 2.60% of the company’s stock.

About Driven Brands

(Get Rating)

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. The company offers various services, such as paint, collision, glass, vehicle repair, car wash, oil change, and maintenance services.

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Institutional Ownership by Quarter for Driven Brands (NASDAQ:DRVN)

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