Edgestream Partners L.P. Raises Stake in Driven Brands Holdings Inc. $DRVN

Edgestream Partners L.P. boosted its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN – Free Report) by 56.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,518 shares of the company’s stock after purchasing an additional 47,910 shares during the quarter. Edgestream Partners L.P.’s holdings in Driven Brands were worth $1,684,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Osaic Holdings Inc. increased its holdings in Driven Brands by 82.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock worth $37,000 after acquiring an additional 941 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Driven Brands by 744.6% in 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 during the period. Comerica Bank boosted its holdings in Driven Brands by 328.8% in the 4th quarter. Comerica Bank now owns 2,933 shares of the company’s stock valued at $43,000 after purchasing an additional 2,249 shares during the period. Larson Financial Group LLC grew its position in shares of Driven Brands by 1,347.7% during the 4th quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock valued at $57,000 after purchasing an additional 3,558 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Driven Brands by 420.2% in the first quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock worth $57,000 after purchasing an additional 3,635 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Get Driven Brands alerts:

Driven Brands Stock Performance

Shares of NASDAQ DRVN opened at $14.57 on Tuesday. The stock’s 50-day moving average is $14.01 and its 200 day moving average is $13.73. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 13.01 and a beta of 0.95. Driven Brands Holdings Inc. has a 1-year low of $9.80 and a 1-year high of $19.74. The company has a current ratio of 1.38, a quick ratio of 1.25 and a debt-to-equity ratio of 2.08.

Driven Brands (NASDAQ:DRVN – Get Free Report) last issued its earnings results on Thursday, June 11th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.06. Driven Brands had a return on equity of 25.70% and a net margin of 9.08%.The business had revenue of $484.44 million during the quarter, compared to analyst estimates of $480.84 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Driven Brands’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Driven Brands Holdings Inc. will post 1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DRVN shares. Benchmark reissued a “buy” rating on shares of Driven Brands in a research note on Tuesday, May 26th. Piper Sandler upped their target price on Driven Brands from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Robert W. Baird set a $18.00 price target on Driven Brands and gave the company an “outperform” rating in a report on Wednesday, May 20th. Royal Bank Of Canada cut their price objective on Driven Brands from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, June 11th. Finally, Canaccord Genuity Group set a $18.00 price objective on shares of Driven Brands in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Driven Brands currently has an average rating of “Moderate Buy” and an average price target of $17.18.

Check Out Our Latest Analysis on DRVN

About Driven Brands

(Free Report)

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.

Featured Articles

• Five stocks we like better than Driven Brands
• SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control
• Why Rare Earth Processing Could Be the Real 2027 Opportunity
• The S&P 493 Are Staging a Comeback—This Value ETF Offers Broad Exposure
• TSMC Insiders Are Buying the Pullback—But Is the Signal as Bullish as It Looks?

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.