Driven Brands director Catherine Halligan sells shares worth $73,895

Published 04/03/2025, 01:34
Driven Brands director Catherine Halligan sells shares worth $73,895

Catherine Ann Halligan, a director at Driven Brands Holdings Inc. (NASDAQ:DRVN), has sold 4,242 shares of the company’s common stock. The shares were sold at a weighted average price of $17.42, totaling approximately $73,895. The transaction price sits near the stock’s 52-week high of $18.01, with DRVN shares delivering a robust 27% return over the past year. Following this transaction, Halligan holds 17,791 shares in the company. Driven Brands, a leader in the automotive repair and services sector with a market capitalization of $2.8 billion, continues to be a significant player in the industry. According to InvestingPro, the company maintains a Fair Financial Health rating, with analyst price targets suggesting potential upside from current levels.

In other recent news, Driven Brands has announced the sale of its U.S. car wash operations to Whistle Express Car Wash for $385 million. This transaction is expected to close in the second quarter of 2025 and involves $255 million in cash and a $130 million interest-bearing seller note. The company plans to use the proceeds to reduce debt, aiming for a net leverage ratio of 3x or lower by the end of 2026. Additionally, BMO Capital Markets has raised its price target for Driven Brands to $16, maintaining a Market Perform rating following the divestiture announcement. In leadership changes, Daniel Rivera will become the new President and CEO on May 9, 2025, succeeding Jonathan Fitzpatrick, who will transition to the role of Non-Executive Chair. Meanwhile, Chief Accounting Officer Michael Beland will resign effective January 3, 2025, with CFO Michael Diamond stepping in as interim principal accounting officer. These developments reflect Driven Brands’ strategic focus on its core operations and leadership succession planning. The company continues to operate approximately 5,200 locations across 13 countries, generating about $2.3 billion in annual revenue.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.