Rubric Capital Management LP bought a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN – Free Report) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 3,000,000 shares of the company’s stock, valued at approximately $37,830,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in DRVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Driven Brands by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock valued at $610,000 after acquiring an additional 1,493 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Driven Brands by 22.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 139,321 shares of the company’s stock worth $2,388,000 after purchasing an additional 25,806 shares during the period. New York State Common Retirement Fund lifted its position in Driven Brands by 10.0% in the second quarter. New York State Common Retirement Fund now owns 16,511 shares of the company’s stock worth $290,000 after purchasing an additional 1,500 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Driven Brands by 95.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 255,156 shares of the company’s stock valued at $4,481,000 after purchasing an additional 124,556 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Driven Brands by 744.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after purchasing an additional 1,854 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
DRVN has been the topic of a number of research reports. Robert W. Baird set a $18.00 price objective on Driven Brands and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Morgan Stanley decreased their target price on Driven Brands from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 20th. William Blair lowered Driven Brands from an “outperform” rating to a “hold” rating in a report on Wednesday, April 22nd. Piper Sandler upped their price target on shares of Driven Brands from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings upgraded shares of Driven Brands from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.18.
Driven Brands Price Performance
NASDAQ DRVN opened at $14.37 on Tuesday. Driven Brands Holdings Inc. has a 1 year low of $9.80 and a 1 year high of $19.74. The business’s fifty day moving average is $13.90 and its two-hundred day moving average is $13.76. The stock has a market capitalization of $2.37 billion, a P/E ratio of 12.83 and a beta of 0.96. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.25 and a current ratio of 1.38.
Driven Brands (NASDAQ:DRVN – Get Free Report) last released its quarterly earnings data on Thursday, June 11th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.06. The business had revenue of $484.44 million during the quarter, compared to analyst estimates of $480.84 million. Driven Brands had a return on equity of 25.70% and a net margin of 9.08%.The company’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. On average, research analysts forecast that Driven Brands Holdings Inc. will post 1.08 earnings per share for the current fiscal year.
Driven Brands Profile
Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.
Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.
See Also
- Five stocks we like better than Driven Brands
- AirJoule’s Kubota Deal Is a Major Validation—But the Hard Part Comes Next
- Dividend Stocks May Be the Quiet Rotation Trade Investors Are Missing Now
- Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There?
- Verizon May Be an AI Infrastructure Stock Hiding in Plain Sight
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 – Free Report).
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.
