Mackenzie Financial Corp Purchases 32,130 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Mackenzie Financial Corp boosted its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 260.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,453 shares of the company's stock after purchasing an additional 32,130 shares during the period. Mackenzie Financial Corp's holdings in Driven Brands were worth $717,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versor Investments LP lifted its stake in Driven Brands by 107.1% in the fourth quarter. Versor Investments LP now owns 43,900 shares of the company's stock valued at $709,000 after acquiring an additional 22,700 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Driven Brands by 687.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 114,327 shares of the company's stock valued at $1,845,000 after acquiring an additional 99,811 shares during the last quarter. Barclays PLC lifted its stake in Driven Brands by 36.0% in the third quarter. Barclays PLC now owns 205,068 shares of the company's stock valued at $2,928,000 after acquiring an additional 54,277 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Driven Brands in the fourth quarter valued at approximately $375,000. Finally, Bank of New York Mellon Corp lifted its stake in Driven Brands by 44.4% in the fourth quarter. Bank of New York Mellon Corp now owns 254,542 shares of the company's stock valued at $4,108,000 after acquiring an additional 78,252 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DRVN has been the subject of a number of analyst reports. Canaccord Genuity Group lifted their target price on shares of Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Benchmark initiated coverage on shares of Driven Brands in a research note on Friday, April 4th. They issued a "buy" rating and a $22.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Driven Brands in a research note on Tuesday. They issued a "neutral" rating and a $20.00 price objective for the company. Robert W. Baird set a $25.00 price objective on shares of Driven Brands in a research note on Thursday, March 13th. Finally, Wall Street Zen cut shares of Driven Brands from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Driven Brands currently has a consensus rating of "Moderate Buy" and an average price target of $20.78.

Driven Brands Stock Performance

DRVN stock traded up $0.02 on Thursday, reaching $17.55. 1,062,370 shares of the company were exchanged, compared to its average volume of 777,211. Driven Brands Holdings Inc. has a 12 month low of $10.88 and a 12 month high of $18.72. The stock's fifty day moving average price is $17.00 and its 200 day moving average price is $16.61. The firm has a market capitalization of $2.88 billion, a PE ratio of 438.75, a PEG ratio of 0.79 and a beta of 1.11. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. The firm had revenue of $516.16 million for the quarter, compared to analyst estimates of $492.19 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. On average, research analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

About Driven Brands

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.