Private Management Group Inc. boosted its holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN – Free Report) by 26.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,276,171 shares of the company’s stock after buying an additional 265,577 shares during the quarter. Private Management Group Inc.’s holdings in Driven Brands were worth $15,072,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. ZWJ Investment Counsel Inc. boosted its position in Driven Brands by 5.1% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 33,512 shares of the company’s stock worth $396,000 after buying an additional 1,616 shares during the period. Bfsg LLC increased its position in Driven Brands by 22.2% in the 3rd quarter. Bfsg LLC now owns 10,094 shares of the company’s stock valued at $119,000 after acquiring an additional 1,835 shares during the period. Janus Henderson Group PLC increased its position in Driven Brands by 0.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,484,305 shares of the company’s stock valued at $31,327,000 after acquiring an additional 7,126 shares during the period. Pictet Asset Management Holding SA bought a new position in shares of Driven Brands during the first quarter valued at $159,000. Finally, Seven Six Capital Management LLC raised its stake in shares of Driven Brands by 4.7% during the first quarter. Seven Six Capital Management LLC now owns 307,800 shares of the company’s stock valued at $3,881,000 after acquiring an additional 13,800 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have recently commented on DRVN shares. Canaccord Genuity Group lowered shares of Driven Brands from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a report on Tuesday, November 3rd. Weiss Ratings downgraded Driven Brands from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, September 28th. Wall Street Zen upgraded Driven Brands from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. UBS Group reaffirmed a “buy” rating on shares of Driven Brands in a research report on Thursday, September 10th. Finally, Bank of America started coverage on Driven Brands in a report on Thursday, September 10th. They set an “underperform” rating and a $12.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.48.
Read Our Latest Stock Report on Driven Brands
Driven Brands Stock Performance
Shares of DRVN stock opened at $12.26 on Tuesday. The stock has a market capitalization of $2.02 billion, a PE ratio of 11.79, a PEG ratio of 2.59 and a beta of 0.91. The business’s 50 day simple moving average is $12.10 and its 200 day simple moving average is $13.20. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.47 and a quick ratio of 1.33. Driven Brands Holdings Inc. has a one year low of $9.80 and a one year high of $17.30.
Driven Brands Profile
Driven Brands Holdings Inc is an automotive aftermarket services company headquartered in Charlotte, North Carolina. It operates and franchises service centers under brands including Take 5 Oil Change, Meineke Car Care Centers, Maaco, CARSTAR and Auto Glass Now.
The company provides a range of vehicle services, including oil changes and preventive maintenance, mechanical repairs, collision repair and refinishing, and auto glass replacement. Through 1-800-Radiator & A/C, it also distributes heating and cooling parts to repair shops and other customers.
Driven Brands serves customers primarily in the United States and Canada, with locations in additional markets.
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