Norden Group LLC Invests $182,000 in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Norden Group LLC purchased a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVNFree Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,536 shares of the company’s stock, valued at approximately $182,000.

A number of other hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Driven Brands in the 1st quarter worth approximately $26,000. Wedmont Private Capital purchased a new stake in Driven Brands in the 1st quarter worth $159,000. GAMMA Investing LLC increased its stake in Driven Brands by 49.3% in the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after buying an additional 904 shares in the last quarter. Grizzlyrock Capital LLC bought a new position in shares of Driven Brands during the 4th quarter valued at about $2,311,000. Finally, HG Vora Capital Management LLC bought a new position in shares of Driven Brands during the 4th quarter valued at about $49,910,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Price Performance

Shares of NASDAQ:DRVN opened at $12.72 on Wednesday. The company’s fifty day moving average price is $11.73 and its 200 day moving average price is $13.27. Driven Brands Holdings Inc. has a 12 month low of $10.59 and a 12 month high of $27.65. The company has a debt-to-equity ratio of 3.20, a current ratio of 1.86 and a quick ratio of 1.67. The firm has a market capitalization of $2.09 billion, a P/E ratio of -2.73, a P/E/G ratio of 0.78 and a beta of 1.12.

Driven Brands (NASDAQ:DRVNGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $572.23 million for the quarter, compared to analyst estimates of $584.31 million. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 12.08%. As a group, sell-side analysts predict that Driven Brands Holdings Inc. will post 0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DRVN. JPMorgan Chase & Co. lowered shares of Driven Brands from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $12.50 in a research report on Friday, May 3rd. Barclays cut their price target on shares of Driven Brands from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Canaccord Genuity Group dropped their price objective on shares of Driven Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Piper Sandler lowered their price target on shares of Driven Brands from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, The Goldman Sachs Group lowered their price target on shares of Driven Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Driven Brands has a consensus rating of “Moderate Buy” and an average price target of $17.61.

View Our Latest Research Report on Driven Brands

About Driven Brands

(Free Report)

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.

See Also

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Institutional Ownership by Quarter for Driven Brands (NASDAQ:DRVN)

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