Bank of America Corp DE lowered its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 51.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 581,331 shares of the company's stock after selling 617,117 shares during the quarter. Bank of America Corp DE owned approximately 0.35% of Driven Brands worth $7,331,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lazard Asset Management LLC boosted its stake in Driven Brands by 0.3% during the second quarter. Lazard Asset Management LLC now owns 216,423 shares of the company's stock valued at $3,800,000 after buying an additional 682 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Driven Brands by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 10,917 shares of the company's stock worth $162,000 after purchasing an additional 701 shares during the period. Mariner LLC boosted its stake in shares of Driven Brands by 1.1% during the 4th quarter. Mariner LLC now owns 71,736 shares of the company's stock worth $1,063,000 after purchasing an additional 812 shares during the period. Osaic Holdings Inc. grew its holdings in Driven Brands by 82.1% during the 2nd 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 last quarter. Finally, Vident Advisory LLC grew its holdings in Driven Brands by 8.0% during the 4th quarter. Vident Advisory LLC now owns 19,620 shares of the company's stock valued at $291,000 after purchasing an additional 1,458 shares during the last quarter. Institutional investors own 77.08% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on DRVN. Wall Street Zen downgraded Driven Brands from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Morgan Stanley set a $14.00 price target on shares of Driven Brands in a research note on Friday, August 7th. Piper Sandler lifted their price objective on shares of Driven Brands from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, May 20th. BMO Capital Markets lowered their price objective on shares of Driven Brands from $18.00 to $14.00 and set a "market perform" rating for the company in a research report on Thursday, May 21st. Finally, Benchmark restated a "buy" rating on shares of Driven Brands in a research note on Tuesday, May 26th. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.77.
Get Our Latest Report on Driven Brands
Driven Brands Stock Up 1.0%
Shares of DRVN stock opened at $13.16 on Wednesday. The stock's fifty day moving average price is $13.90 and its 200 day moving average price is $13.43. Driven Brands Holdings Inc. has a 1-year low of $9.80 and a 1-year high of $19.74. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 12.65 and a beta of 0.95. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.47 and a quick ratio of 1.33.
Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.29 EPS for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. On average, research analysts expect that Driven Brands Holdings Inc. will post 1.12 earnings per share for the current fiscal year.
About Driven Brands
(
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.
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