MYDA Advisors LLC purchased a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 42,000 shares of the company’s stock, valued at approximately $1,068,000. MYDA Advisors LLC owned about 28.00% of Driven Brands at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blueshift Asset Management LLC bought a new stake in shares of Driven Brands during the first quarter valued at approximately $249,000. Teacher Retirement System of Texas bought a new stake in Driven Brands during the first quarter worth approximately $254,000. Treasurer of the State of North Carolina bought a new stake in Driven Brands during the first quarter worth approximately $342,000. Rhumbline Advisers bought a new stake in Driven Brands during the first quarter worth approximately $766,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in Driven Brands during the first quarter worth approximately $911,000.
DRVN has been the topic of several recent research reports. Zacks Investment Research lowered shares of Driven Brands from a “buy” rating to a “hold” rating in a research report on Monday, May 10th. JPMorgan Chase & Co. lifted their price target on shares of Driven Brands from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, April 29th. Finally, Morgan Stanley lifted their price target on shares of Driven Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 29th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $35.33.
Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Tuesday, April 27th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.13. The business had revenue of $329.42 million during the quarter, compared to analyst estimates of $291.45 million. The firm’s revenue for the quarter was up 82.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. As a group, analysts forecast that Driven Brands Holdings Inc. will post 0.63 EPS for the current fiscal year.
Driven Brands Profile
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.
Recommended Story: Buy Rating
Want to see what other hedge funds are holding DRVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Driven Brands Holdings Inc. (NASDAQ:DRVN).
Receive News & Ratings for Driven Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Driven Brands and related companies with MarketBeat.com's FREE daily email newsletter.