Driven Brands Holdings Inc. (NASDAQ:DRVN) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 1,989.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 24,802 shares of the company’s stock after acquiring an additional 23,615 shares during the period. GAMMA Investing LLC’s holdings in Driven Brands were worth $425,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Versor Investments LP increased its holdings in shares of Driven Brands by 107.1% in the 4th quarter. Versor Investments LP now owns 43,900 shares of the company’s stock valued at $709,000 after purchasing an additional 22,700 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Driven Brands by 687.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 114,327 shares of the company’s stock valued at $1,845,000 after acquiring an additional 99,811 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Driven Brands in the fourth quarter worth approximately $375,000. Bank of New York Mellon Corp raised its holdings in shares of Driven Brands by 44.4% during the 4th quarter. Bank of New York Mellon Corp now owns 254,542 shares of the company’s stock valued at $4,108,000 after purchasing an additional 78,252 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Driven Brands during the 4th quarter valued at $1,742,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Price Performance

NASDAQ:DRVN opened at $17.06 on Friday. The firm has a market cap of $2.80 billion, a PE ratio of -9.43, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. Driven Brands Holdings Inc. has a 12 month low of $11.45 and a 12 month high of $18.72. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 4.07. The company’s 50-day moving average price is $17.27 and its two-hundred day moving average price is $16.66.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Driven Brands had a negative net margin of 12.75% and a positive return on equity of 19.61%. The company had revenue of $516.16 million during the quarter, compared to the consensus estimate of $492.19 million. During the same period in the previous year, the firm posted $0.23 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DRVN. Piper Sandler raised their price target on shares of Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Wall Street Zen upgraded shares of Driven Brands from a “hold” rating to a “buy” rating in a report on Saturday, June 7th. The Goldman Sachs Group assumed coverage on shares of Driven Brands in a report on Tuesday, June 3rd. They set a “neutral” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, BMO Capital Markets lifted their target price on shares of Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.78.

Driven Brands Profile

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.