Corient Private Wealth LP Invests $2.37 Million in Driven Brands Holdings Inc. $DRVN

Key Points

• Corient Private Wealth LP bought 170,071 shares of Driven Brands, valued at approximately $2.37 million, giving it a 0.10% stake. Institutional investors collectively own 77.08% of the company.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $16.77, although some firms maintain neutral or hold ratings.
• Driven Brands shares opened at $12.88, while the company recently reported quarterly EPS of $0.29 and analysts expect full-year EPS of $1.12.

Corient Private Wealth LP purchased a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 170,071 shares of the company's stock, valued at approximately $2,371,000. Corient Private Wealth LP owned 0.10% of Driven Brands at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Osaic Holdings Inc. increased its stake in Driven Brands by 82.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company's stock valued at $37,000 after buying an additional 941 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Driven Brands by 744.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company's stock worth $37,000 after acquiring an additional 1,854 shares during the period. Comerica Bank boosted its holdings in shares of Driven Brands by 328.8% in the fourth quarter. Comerica Bank now owns 2,933 shares of the company's stock valued at $43,000 after acquiring an additional 2,249 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Driven Brands by 1,347.7% in the fourth quarter. Larson Financial Group LLC now owns 3,822 shares of the company's stock valued at $57,000 after acquiring an additional 3,558 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its stake in shares of Driven Brands by 420.2% during the first quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company's stock worth $57,000 after acquiring an additional 3,635 shares during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DRVN shares. Benchmark reissued a "buy" rating on shares of Driven Brands in a report on Tuesday, May 26th. Royal Bank Of Canada dropped their target price on Driven Brands from $17.00 to $16.00 and set an "outperform" rating on the stock in a research report on Friday, August 7th. Wall Street Zen downgraded Driven Brands from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. The Goldman Sachs Group reissued a "neutral" rating and issued a $14.75 price target on shares of Driven Brands in a report on Wednesday, May 20th. Finally, Robert W. Baird set a $18.00 price target on Driven Brands and gave the company an "outperform" rating in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.77.

Driven Brands Stock Up 0.6%

Shares of NASDAQ DRVN opened at $12.88 on Thursday. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 12.38 and a beta of 0.94. Driven Brands Holdings Inc. has a 52 week low of $9.80 and a 52 week high of $19.74. The firm has a 50-day moving average price of $13.91 and a 200 day moving average price of $13.26. 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 (NASDAQ:DRVN - Get Free Report) last issued its earnings results on Monday, July 27th. The company reported $0.29 earnings per share for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. Equities research analysts anticipate that Driven Brands Holdings Inc. will post 1.12 EPS for the current fiscal year.

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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