109,020 Shares in Driven Brands Holdings Inc. $DRVN Purchased by III Capital Management

Key Points

• III Capital Management purchased 109,020 Driven Brands shares during the second quarter, valued at approximately $1.52 million and representing 0.07% of the company. Institutional investors collectively own 77.08% of DRVN.
• Driven Brands reported quarterly EPS of $0.29, with a 24.13% return on equity and an 8.61% net margin. Analysts expect full-year EPS of $1.12.
• Analyst sentiment remains Moderate Buy, with an average price target of $16.77, although ratings range from Strong Buy to Sell. DRVN recently opened at $13.16, below the consensus target.

III Capital Management purchased a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 109,020 shares of the company's stock, valued at approximately $1,520,000. III Capital Management owned 0.07% of Driven Brands at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Osaic Holdings Inc. grew 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 valued at $37,000 after purchasing an additional 941 shares during the period. EverSource Wealth Advisors LLC raised its stake 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 purchasing an additional 1,854 shares during the period. Comerica Bank boosted its holdings in shares of Driven Brands by 328.8% in the 4th quarter. Comerica Bank now owns 2,933 shares of the company's stock valued at $43,000 after purchasing an additional 2,249 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Driven Brands by 1,347.7% during the 4th quarter. Larson Financial Group LLC now owns 3,822 shares of the company's stock valued at $57,000 after buying an additional 3,558 shares during the period. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Driven Brands by 420.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company's stock worth $57,000 after buying an additional 3,635 shares during the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Driven Brands Stock Performance

Shares of DRVN stock opened at $13.16 on Wednesday. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.47 and a quick ratio of 1.33. The company's fifty day moving average price is $13.90 and its two-hundred day moving average price is $13.43. The firm has a market capitalization of $2.17 billion, a P/E ratio of 12.65 and a beta of 0.95. Driven Brands Holdings Inc. has a 12 month low of $9.80 and a 12 month high of $19.74.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its earnings results on Monday, July 27th. The company reported $0.29 earnings per share (EPS) for the quarter. Driven Brands had a return on equity of 24.13% and a net margin of 8.61%. On average, research analysts anticipate that Driven Brands Holdings Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Weiss Ratings downgraded Driven Brands from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Robert W. Baird set a $18.00 price objective on shares of Driven Brands and gave the stock an "outperform" rating in a research note on Wednesday, May 20th. BTIG Research reissued a "buy" rating and issued a $17.00 target price on shares of Driven Brands in a research note on Friday, June 12th. Benchmark restated a "buy" rating on shares of Driven Brands in a report on Tuesday, May 26th. Finally, Canaccord Genuity Group set a $17.00 price target on Driven Brands in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $16.77.

About Driven Brands

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.

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