534,813 Shares in Driven Brands Holdings Inc. $DRVN Bought by Norwood Investment Partners LP

Key Points

• Norwood Investment Partners acquired 534,813 Driven Brands shares worth approximately $7.46 million, giving it a 0.32% stake and making DRVN its fourth-largest holding.
• Institutional ownership remains high at 77.08%, with BlackRock, Boston Partners, Rubric Capital, North Peak Capital and Conversant Capital also building positions.
• Driven Brands reported quarterly EPS of $0.29, while analysts expect $1.12 in full-year EPS. The stock has a “Moderate Buy” consensus rating and an average price target of $16.77, compared with a recent price of $13.17.

Norwood Investment Partners LP acquired a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 534,813 shares of the company's stock, valued at approximately $7,455,293,000. Driven Brands accounts for approximately 10.3% of Norwood Investment Partners LP's holdings, making the stock its 4th largest position. Norwood Investment Partners LP owned approximately 0.32% of Driven Brands as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Driven Brands in the 2nd quarter valued at about $67,107,000. Boston Partners increased its position in shares of Driven Brands by 1,301.0% in the fourth quarter. Boston Partners now owns 3,426,388 shares of the company's stock worth $50,783,000 after purchasing an additional 3,181,812 shares during the last quarter. Rubric Capital Management LP bought a new position in shares of Driven Brands in the first quarter worth approximately $37,830,000. North Peak Capital Management LLC raised its stake in Driven Brands by 37.3% in the fourth quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company's stock valued at $59,144,000 after purchasing an additional 1,083,896 shares in the last quarter. Finally, Conversant Capital LLC bought a new stake in Driven Brands during the first quarter valued at approximately $12,610,000. 77.08% of the stock is currently owned by institutional investors.

Driven Brands Stock Performance

Driven Brands stock opened at $13.17 on Friday. The firm has a fifty day simple moving average of $13.91 and a two-hundred day simple moving average of $13.50. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 1.99. Driven Brands Holdings Inc. has a twelve month low of $9.80 and a twelve month high of $19.74. The company has a market capitalization of $2.17 billion, a PE ratio of 12.66 and a beta of 0.95.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings data 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%. Research analysts expect that Driven Brands Holdings Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

DRVN has been the topic of a number of research analyst reports. Piper Sandler increased their price target on shares of Driven Brands from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, May 20th. Morgan Stanley set a $14.00 price target on Driven Brands in a research report on Friday, August 7th. Weiss Ratings lowered Driven Brands from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Wall Street Zen cut Driven Brands from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Benchmark reiterated a "buy" rating on shares of Driven Brands in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $16.77.

Driven Brands 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.

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