Platform Technology Partners Sells 31,000 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Platform Technology Partners cut its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 62.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,000 shares of the company’s stock after selling 31,000 shares during the period. Platform Technology Partners’ holdings in Driven Brands were worth $307,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DRVN. HG Vora Capital Management LLC lifted its stake in Driven Brands by 4.9% during the 3rd quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company’s stock valued at $107,738,000 after acquiring an additional 350,000 shares during the period. North Peak Capital Management LLC lifted its position in Driven Brands by 1.8% during the third quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock valued at $75,617,000 after purchasing an additional 95,529 shares during the period. Bamco Inc. NY boosted its holdings in Driven Brands by 16.7% in the third quarter. Bamco Inc. NY now owns 3,500,000 shares of the company’s stock worth $49,945,000 after purchasing an additional 500,000 shares during the last quarter. Emeth Value Capital LLC bought a new stake in Driven Brands in the 4th quarter worth approximately $41,452,000. Finally, Geode Capital Management LLC raised its stake in Driven Brands by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,511,230 shares of the company’s stock valued at $21,570,000 after buying an additional 19,681 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus raised their price target on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Canaccord Genuity Group raised their target price on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada upped 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. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

Driven Brands Trading Down 2.2 %

Shares of NASDAQ:DRVN opened at $16.08 on Friday. Driven Brands Holdings Inc. has a 12-month low of $10.59 and a 12-month high of $17.45. The company has a market cap of $2.64 billion, a PE ratio of 402.00, a price-to-earnings-growth ratio of 0.86 and a beta of 1.15. The stock has a 50 day moving average of $16.26 and a 200 day moving average of $15.14. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84.

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.