Driven Brands Holdings Inc. $DRVN Shares Acquired by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management increased its Driven Brands stake by 216.4% in the first quarter, acquiring 512,463 additional shares for a total of 749,273 shares valued at approximately $9.45 million. Institutional investors collectively own 77.08% of the company.
• Analysts maintain a generally positive outlook, with Driven Brands carrying a “Moderate Buy” consensus rating and an average price target of $17.18. Recent ratings included price targets ranging from $13 to $18.
• Driven Brands reported quarterly EPS of $0.30, exceeding the $0.24 consensus estimate, while revenue reached $484.44 million. However, revenue declined 6.2% year over year, and the stock recently opened at $14.85.

Quantinno Capital Management LP increased its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 216.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 749,273 shares of the company's stock after purchasing an additional 512,463 shares during the period. Quantinno Capital Management LP owned 0.46% of Driven Brands worth $9,448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Rangeley Capital LLC acquired a new stake in Driven Brands in the first quarter worth $7,888,000. Conversant Capital LLC bought a new stake in Driven Brands in the first quarter valued at $12,610,000. First Trust Advisors LP boosted its holdings in shares of Driven Brands by 34.6% during the first quarter. First Trust Advisors LP now owns 82,248 shares of the company's stock valued at $1,037,000 after acquiring an additional 21,125 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Driven Brands by 9.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,362,430 shares of the company's stock valued at $29,783,000 after acquiring an additional 200,788 shares during the period. Finally, Calamos Wealth Management LLC bought a new position in shares of Driven Brands during the first quarter worth about $285,000. Institutional investors and hedge funds own 77.08% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Driven Brands from $18.00 to $17.00 and set an "outperform" rating on the stock in a research report on Thursday, June 11th. Robert W. Baird set a $18.00 price target on shares of Driven Brands and gave the company an "outperform" rating in a research note on Wednesday, May 20th. 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 lifted their price target on Driven Brands from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, May 20th. Finally, Wall Street Zen upgraded Driven Brands from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $17.18.

Driven Brands Stock Performance

DRVN stock opened at $14.85 on Wednesday. The company has a market capitalization of $2.45 billion, a P/E ratio of 13.26 and a beta of 0.95. The company has a 50-day simple moving average of $14.04 and a 200 day simple moving average of $13.73. Driven Brands Holdings Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $19.74. The company has a quick ratio of 1.25, a current ratio of 1.38 and a debt-to-equity ratio of 2.08.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its earnings results on Thursday, June 11th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.06. Driven Brands had a net margin of 9.08% and a return on equity of 25.70%. The firm had revenue of $484.44 million during the quarter, compared to analyst estimates of $480.84 million. During the same quarter in the prior year, the firm posted $0.27 EPS. Driven Brands's revenue was down 6.2% compared to the same quarter last year. Sell-side analysts predict that Driven Brands Holdings Inc. will post 1.08 earnings per share for the current fiscal year.

About Driven Brands

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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