Advisory Research Inc. Takes Position in Driven Brands Holdings Inc. $DRVN

Advisory Research Inc. acquired a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVNFree Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 665,753 shares of the company’s stock, valued at approximately $10,725,000. Driven Brands makes up approximately 1.4% of Advisory Research Inc.’s portfolio, making the stock its 23rd biggest holding. Advisory Research Inc. owned 0.40% of Driven Brands at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its holdings in shares of Driven Brands by 82.1% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock worth $37,000 after purchasing an additional 941 shares during the period. EverSource Wealth Advisors LLC increased its position in Driven Brands by 744.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock worth $37,000 after buying an additional 1,854 shares during the last quarter. Farther Finance Advisors LLC increased its position in Driven Brands by 1,113.8% during the third quarter. Farther Finance Advisors LLC now owns 3,338 shares of the company’s stock worth $54,000 after buying an additional 3,063 shares during the last quarter. Versant Capital Management Inc bought a new position in Driven Brands during the third quarter valued at about $84,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Driven Brands in the third quarter worth about $108,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Driven Brands news, insider Scott L. O’melia sold 46,875 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $16.00, for a total value of $750,000.00. Following the sale, the insider directly owned 326,944 shares in the company, valued at $5,231,104. This represents a 12.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Driven Brands from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Morgan Stanley dropped their target price on shares of Driven Brands from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Driven Brands in a research report on Monday, December 29th. Stifel Nicolaus set a $23.00 target price on Driven Brands in a research note on Monday, November 17th. Finally, Piper Sandler lowered Driven Brands from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $12.00 in a report on Wednesday, February 25th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Driven Brands presently has an average rating of “Hold” and an average price target of $20.00.

Read Our Latest Report on DRVN

Key Driven Brands News

Here are the key news stories impacting Driven Brands this week:

Driven Brands Stock Performance

Shares of NASDAQ DRVN opened at $10.48 on Friday. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -8.45 and a beta of 1.09. Driven Brands Holdings Inc. has a one year low of $9.80 and a one year high of $19.74. The business has a fifty day simple moving average of $14.81 and a 200 day simple moving average of $15.38. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 2.44.

Driven Brands (NASDAQ:DRVNGet Free Report) last issued its earnings results on Friday, March 13th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. The business had revenue of $457.33 million for the quarter, compared to analyst estimates of $459.50 million. Driven Brands had a negative net margin of 9.14% and a positive return on equity of 25.31%. During the same period in the previous year, the business earned $0.30 EPS. Sell-side analysts expect that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Driven Brands Profile

(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.

Read More

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

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