Deutsche Bank AG Trims Stake in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Deutsche Bank AG lessened its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 79.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 173,818 shares of the company’s stock after selling 681,203 shares during the quarter. Deutsche Bank AG owned approximately 0.10% of Driven Brands worth $5,021,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DRVN. Vanguard Group Inc. increased its holdings in Driven Brands by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,889,686 shares of the company’s stock worth $89,348,000 after purchasing an additional 38,549 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Driven Brands by 28.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,784,775 shares of the company’s stock valued at $86,105,000 after purchasing an additional 611,930 shares during the period. Bamco Inc. NY boosted its position in shares of Driven Brands by 8.8% in the 2nd quarter. Bamco Inc. NY now owns 1,850,000 shares of the company’s stock valued at $57,202,000 after purchasing an additional 150,000 shares during the period. Victory Capital Management Inc. boosted its position in shares of Driven Brands by 131.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,167,269 shares of the company’s stock valued at $33,722,000 after purchasing an additional 663,013 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Driven Brands by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 516,055 shares of the company’s stock valued at $15,956,000 after purchasing an additional 8,920 shares during the period. Hedge funds and other institutional investors own 29.75% of the company’s stock.

A number of analysts have weighed in on DRVN shares. Zacks Investment Research raised Driven Brands from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, December 28th. Morgan Stanley raised Driven Brands from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $35.00 to $39.00 in a research report on Friday, October 29th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $37.60.

NASDAQ DRVN opened at $31.72 on Friday. Driven Brands Holdings Inc. has a 1-year low of $22.26 and a 1-year high of $35.56. The company has a market capitalization of $5.31 billion and a P/E ratio of 151.05. The business has a 50 day moving average price of $32.20 and a 200 day moving average price of $30.62. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.01 and a quick ratio of 0.88.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Tuesday, October 26th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Driven Brands had a return on equity of 7.54% and a net margin of 3.00%. The firm had revenue of $371.15 million during the quarter, compared to the consensus estimate of $358.48 million. The firm’s revenue was up 38.6% compared to the same quarter last year. On average, research analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

In other Driven Brands news, EVP Daniel R. Rivera sold 14,046 shares of the stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $32.19, for a total transaction of $452,140.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel R. Rivera sold 26,173 shares of the stock in a transaction on Friday, November 5th. The shares were sold at an average price of $32.11, for a total value of $840,415.03. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

About Driven Brands

Driven Brands Holdings Inc provides automotive services to retail and commercial customers in North America and internationally. It operates through Maintenance; Car Wash, Paint, Collision & Glass; and Platform Services segments. The company offers various services, such as paint, collision, refinishing, glass, vehicle repair, oil change, maintenance, and car wash services.

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

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