Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Rating) Director Neal K. Aronson sold 7,000,000 shares of Driven Brands stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $32.19, for a total value of $225,330,000.00. Following the sale, the director now directly owns 32,758,952 shares of the company's stock, valued at $1,054,510,664.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Driven Brands Stock Performance
Shares of NASDAQ DRVN opened at $32.26 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.14 and a quick ratio of 1.02. The stock's fifty day moving average price is $31.20 and its two-hundred day moving average price is $28.69. Driven Brands Holdings Inc. has a one year low of $24.62 and a one year high of $35.45. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of -179.21, a P/E/G ratio of 1.56 and a beta of 0.57.
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Driven Brands (NASDAQ:DRVN – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. Driven Brands had a positive return on equity of 10.64% and a negative net margin of 1.62%. The firm had revenue of $508.60 million for the quarter, compared to analyst estimates of $480.37 million. During the same period in the prior year, the firm posted $0.25 EPS. The company's revenue for the quarter was up 35.7% on a year-over-year basis. On average, equities analysts forecast that Driven Brands Holdings Inc. will post 1.12 EPS for the current year.
Wall Street Analyst Weigh In
Separately, Morgan Stanley upped their price objective on Driven Brands from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Monday, August 1st.
Institutional Trading of Driven Brands
Several large investors have recently modified their holdings of DRVN. Loomis Sayles & Co. L P acquired a new stake in shares of Driven Brands during the 1st quarter worth $23,900,000. JPMorgan Chase & Co. grew its holdings in shares of Driven Brands by 17.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,398,461 shares of the company's stock worth $115,592,000 after purchasing an additional 641,522 shares in the last quarter. Capital World Investors grew its holdings in shares of Driven Brands by 38.7% during the 4th quarter. Capital World Investors now owns 1,983,000 shares of the company's stock worth $66,668,000 after purchasing an additional 553,000 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Driven Brands in the second quarter valued at about $12,197,000. Finally, Cowbird Capital LP acquired a new stake in Driven Brands in the second quarter valued at about $10,520,000. 33.09% of the stock is owned by institutional investors and hedge funds.
About Driven Brands
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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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