Driven Brands Holdings Inc. $DRVN Shares Purchased by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 5.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,478 shares of the company’s stock after acquiring an additional 4,243 shares during the period. Rhumbline Advisers owned about 0.05% of Driven Brands worth $1,482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Driven Brands by 22.7% during the 1st 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. Seven Six Capital Management LLC raised its position in shares of Driven Brands by 34.5% during the 1st quarter. Seven Six Capital Management LLC now owns 202,600 shares of the company’s stock worth $3,473,000 after purchasing an additional 52,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Driven Brands by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock worth $610,000 after purchasing an additional 1,493 shares during the period. Cinctive Capital Management LP increased its position in Driven Brands by 36.0% in the first quarter. Cinctive Capital Management LP now owns 123,421 shares of the company’s stock worth $2,115,000 after buying an additional 32,677 shares during the period. Finally, Ewing Morris & Co. Investment Partners Ltd. increased its position in Driven Brands by 22.0% in the first quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 218,867 shares of the company’s stock worth $3,751,000 after buying an additional 39,468 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Driven Brands in a report on Friday, September 12th. The Goldman Sachs Group began coverage on Driven Brands in a research report on Tuesday, June 3rd. They set a “neutral” rating and a $20.00 price target on the stock. Zacks Research upgraded shares of Driven Brands to a “hold” rating in a research report on Friday, August 8th. JPMorgan Chase & Co. upgraded Driven Brands from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $17.00 to $23.00 in a report on Wednesday, August 6th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $24.00 price target on shares of Driven Brands in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Driven Brands presently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

Driven Brands Stock Performance

DRVN stock opened at $16.89 on Friday. The stock has a market capitalization of $2.77 billion, a PE ratio of -9.94, a price-to-earnings-growth ratio of 1.03 and a beta of 1.09. Driven Brands Holdings Inc. has a fifty-two week low of $13.47 and a fifty-two week high of $19.74. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.11 and a quick ratio of 1.01. The company has a 50 day moving average price of $17.57 and a 200 day moving average price of $17.28.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $550.99 million during the quarter, compared to analysts’ expectations of $540.12 million. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.Driven Brands’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 EPS. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. Analysts forecast that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Insider Transactions at Driven Brands

In other news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $18.05, for a total transaction of $1,985,500.00. Following the completion of the sale, the director directly owned 2,279,453 shares in the company, valued at approximately $41,144,126.65. This represents a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is owned by corporate insiders.

About Driven Brands

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.