Driven Brands Holdings Inc. $DRVN Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Driven Brands stake by 9.3% in the first quarter, adding 200,788 shares to own 2.36 million shares valued at approximately $29.8 million. Institutional investors collectively hold 77.08% of the company.
• Driven Brands reported quarterly earnings of $0.30 per share, exceeding analyst expectations of $0.24, while revenue of $484.44 million also topped estimates. However, revenue declined 6.2% year over year.
• The stock opened at $14.85, with analysts holding a consensus “Moderate Buy” rating and an average price target of $17.18, despite several recent target-price reductions and one downgrade to “Hold.”

Dimensional Fund Advisors LP boosted its position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,362,430 shares of the company's stock after acquiring an additional 200,788 shares during the quarter. Dimensional Fund Advisors LP owned 1.44% of Driven Brands worth $29,783,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Boston Partners boosted its position in shares of Driven Brands by 1,301.0% during the 4th quarter. Boston Partners now owns 3,426,388 shares of the company's stock worth $50,783,000 after acquiring an additional 3,181,812 shares in the last quarter. North Peak Capital Management LLC raised its position in shares of Driven Brands by 37.3% during the 4th quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company's stock worth $59,144,000 after acquiring an additional 1,083,896 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Driven Brands during the third quarter worth approximately $12,599,000. Goldman Sachs Group Inc. lifted its stake in Driven Brands by 14.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,826,160 shares of the company's stock worth $56,704,000 after purchasing an additional 491,919 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Driven Brands by 195.1% in the fourth quarter. Russell Investments Group Ltd. now owns 691,129 shares of the company's stock valued at $10,243,000 after purchasing an additional 456,947 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

Driven Brands Stock Up 1.9%

Driven Brands stock opened at $14.85 on Wednesday. Driven Brands Holdings Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $19.74. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 13.26 and a beta of 0.95. The stock's fifty day moving average is $14.04 and its two-hundred day moving average is $13.73. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.25 and a current ratio of 1.38.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DRVN shares. Royal Bank Of Canada cut their price target on shares of Driven Brands from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Thursday, June 11th. BMO Capital Markets dropped their price objective 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. William Blair cut Driven Brands from an "outperform" rating to a "hold" rating in a research report on Wednesday, April 22nd. Canaccord Genuity Group set a $18.00 target price on Driven Brands in a report on Monday, June 8th. Finally, Piper Sandler upped their target price on Driven Brands from $11.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.18.

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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