Driven Brands Holdings Inc. $DRVN Position Boosted by Private Management Group Inc.

Key Points

• Private Management Group increased its Driven Brands stake by 26.3% in the third quarter, adding 265,577 shares to hold about 1.28 million shares, valued at roughly $15.1 million.
• Institutional investors and hedge funds own 77.08% of the company; several firms, including BlackRock, also reported acquiring new stakes.
• Analyst sentiment is mixed, with the stock carrying an average “Hold” rating and a consensus price target of $15.48. Shares opened at $12.26, within a 52-week range of $9.80–$17.30.

Private Management Group Inc. lifted its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 26.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,276,171 shares of the company's stock after acquiring an additional 265,577 shares during the period. Private Management Group Inc. owned approximately 0.77% of Driven Brands worth $15,072,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Driven Brands in the 2nd quarter valued at $67,107,000. Bank of America Corp DE acquired a new position in shares of Driven Brands during the 2nd quarter worth $6,110,000. Rangeley Capital LLC acquired a new position in shares of Driven Brands during the 1st quarter worth $7,888,000. Bank of New York Mellon Corp acquired a new position in shares of Driven Brands during the 2nd quarter worth $3,715,000. Finally, Rubric Capital Management LP bought a new stake in shares of Driven Brands during the 1st quarter worth $37,830,000. Institutional investors and hedge funds own 77.08% of the company's stock.

Driven Brands Stock Up 3.1%

Shares of DRVN opened at $12.26 on Tuesday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.33 and a current ratio of 1.47. Driven Brands Holdings Inc. has a 52 week low of $9.80 and a 52 week high of $17.30. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.59 and a beta of 0.91. The stock has a fifty day moving average of $12.10 and a 200-day moving average of $13.20.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings lowered Driven Brands from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, September 28th. UBS Group reissued a "buy" rating on shares of Driven Brands in a research note on Thursday, September 10th. Wall Street Zen raised shares of Driven Brands from a "hold" rating to a "buy" rating in a report on Saturday, October 24th. Morgan Stanley set a $14.00 price target on shares of Driven Brands in a research note on Friday, August 7th. Finally, BTIG Research lowered shares of Driven Brands from a "buy" rating to a "neutral" rating in a report on Wednesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $15.48.

Driven Brands Company Profile

Driven Brands Holdings Inc is an automotive aftermarket services company headquartered in Charlotte, North Carolina. It operates and franchises service centers under brands including Take 5 Oil Change, Meineke Car Care Centers, Maaco, CARSTAR and Auto Glass Now.

The company provides a range of vehicle services, including oil changes and preventive maintenance, mechanical repairs, collision repair and refinishing, and auto glass replacement. Through 1-800-Radiator & A/C, it also distributes heating and cooling parts to repair shops and other customers.

Driven Brands serves customers primarily in the United States and Canada, with locations in additional markets.

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