AustralianSuper Pty Ltd Invests $44.65 Million in Driven Brands Holdings Inc. $DRVN

AustralianSuper Pty Ltd bought a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,771,251 shares of the company’s stock, valued at approximately $44,645,000. AustralianSuper Pty Ltd owned approximately 1.69% of Driven Brands at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Osaic Holdings Inc. lifted its holdings in Driven Brands by 82.1% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock worth $37,000 after buying an additional 941 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Driven Brands by 744.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock worth $37,000 after acquiring an additional 1,854 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Driven Brands by 1,113.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,338 shares of the company’s stock valued at $54,000 after purchasing an additional 3,063 shares during the period. Versant Capital Management Inc bought a new stake in shares of Driven Brands during the third quarter valued at approximately $84,000. Finally, Federated Hermes Inc. purchased a new stake in Driven Brands in the third quarter worth $108,000. 77.08% of the stock is owned by institutional investors.

Driven Brands Trading Down 3.0%

NASDAQ:DRVN opened at $15.30 on Thursday. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -12.34, a PEG ratio of 1.12 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 2.44. The company’s 50 day moving average price is $15.08 and its 200-day moving average price is $15.96. Driven Brands Holdings Inc. has a 52 week low of $13.44 and a 52 week high of $19.74.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $535.68 million for the quarter, compared to analysts’ expectations of $535.35 million. Driven Brands had a positive return on equity of 25.31% and a negative net margin of 9.14%.Driven Brands has set its FY 2025 guidance at 1.230-1.280 EPS. On average, equities research analysts forecast that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Driven Brands news, insider Scott L. O’melia sold 46,875 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $16.00, for a total value of $750,000.00. Following the completion of the transaction, the insider owned 326,944 shares of the company’s stock, valued at approximately $5,231,104. The trade was a 12.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Morgan Stanley lowered their price objective on Driven Brands from $20.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. William Blair raised shares of Driven Brands from a “market perform” rating to an “outperform” rating in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. cut their price objective on shares of Driven Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. Zacks Research lowered shares of Driven Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Finally, Wall Street Zen cut Driven Brands from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Driven Brands presently has a consensus rating of “Hold” and an average price target of $20.80.

Driven Brands Company Profile

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.