Bamco Inc. NY Takes Position in Driven Brands Holdings Inc. $DRVN

Key Points

• Bamco Inc. NY acquired 4.5 million shares of Driven Brands, valued at approximately $62.8 million and representing a 2.73% stake. Institutional investors and hedge funds collectively own 77.08% of the company.
• Driven Brands shares opened at $13.00, down 1.2%, with a market capitalization of about $2.14 billion. The stock trades below its 12-month high of $19.74 but above its low of $9.80.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $16.77. The company reported quarterly EPS of $0.29, while analysts expect full-year EPS of $1.12.

Bamco Inc. NY purchased a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,502,594 shares of the company's stock, valued at approximately $62,766,000. Bamco Inc. NY owned 2.73% of Driven Brands as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have 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 valued at $37,000 after acquiring an additional 941 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Driven Brands by 744.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company's stock valued at $37,000 after purchasing an additional 1,854 shares in the last quarter. Comerica Bank lifted its stake 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 period. Larson Financial Group LLC boosted its holdings in Driven Brands by 1,347.7% during the fourth quarter. Larson Financial Group LLC now owns 3,822 shares of the company's stock worth $57,000 after buying an additional 3,558 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its position in Driven Brands by 420.2% during the first quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company's stock valued at $57,000 after buying an additional 3,635 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Trading Down 1.2%

Shares of Driven Brands stock opened at $13.00 on Thursday. The company has a fifty day simple moving average of $13.91 and a 200-day simple moving average of $13.41. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 1.99. Driven Brands Holdings Inc. has a 12-month low of $9.80 and a 12-month high of $19.74. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 12.50 and a beta of 0.95.

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, equities analysts forecast that Driven Brands Holdings Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. BTIG Research restated a "buy" rating and issued a $17.00 price target on shares of Driven Brands in a research note on Friday, June 12th. Piper Sandler boosted their price target on shares of Driven Brands from $11.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 20th. BMO Capital Markets reduced their price target on Driven Brands from $18.00 to $14.00 and set a "market perform" rating on the stock in a report on Thursday, May 21st. Robert W. Baird set a $18.00 price objective on Driven Brands and gave the stock an "outperform" rating in a research report on Wednesday, May 20th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $14.75 price target on shares of Driven Brands in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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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