Jupiter Topco LLC Acquires Shares of 2,526,144 Driven Brands Holdings Inc. $DRVN

Key Points

• Jupiter Topco LLC acquired 2.53 million Driven Brands shares worth approximately $35.2 million, representing about 1.53% of the company. Institutional investors collectively own 77.08% of DRVN.
• Driven Brands shares opened at $12.47, down 1.4%, with a market capitalization of roughly $2.06 billion. The company reported quarterly EPS of $0.29, while analysts project full-year EPS of $1.12.
• Analyst sentiment remains positive but mixed, with a consensus rating of “Moderate Buy” and an average price target of $16.77, implying potential upside from the current share price.

Jupiter Topco LLC acquired a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,526,144 shares of the company's stock, valued at approximately $35,214,000. Jupiter Topco LLC owned about 1.53% of Driven Brands at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DRVN. North Peak Capital Management LLC increased its position in shares of Driven Brands by 37.3% during the fourth quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company's stock valued at $59,144,000 after acquiring an additional 1,083,896 shares during the last quarter. Rangeley Capital LLC purchased a new position in shares of Driven Brands during the 1st quarter worth approximately $7,888,000. Rubric Capital Management LP purchased a new position in shares of Driven Brands during the 1st quarter worth approximately $37,830,000. Conversant Capital LLC acquired a new stake in Driven Brands in the 1st quarter valued at approximately $12,610,000. Finally, Norwood Investment Partners LP acquired a new stake in Driven Brands in the 2nd quarter valued at approximately $7,455,293. 77.08% of the stock is owned by institutional investors.

Driven Brands Stock Down 1.4%

Shares of NASDAQ:DRVN opened at $12.47 on Friday. 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 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 1.99. The firm's 50-day simple moving average is $13.91 and its 200-day simple moving average is $13.37. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 11.99 and a beta of 0.95.

Driven Brands (NASDAQ:DRVN - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported $0.29 earnings per share (EPS) for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. As a group, equities research analysts predict that Driven Brands Holdings Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DRVN shares. Wall Street Zen lowered Driven Brands from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Piper Sandler boosted their target price on Driven Brands from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 20th. 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. Morgan Stanley set a $14.00 price objective on shares of Driven Brands in a research report on Friday, August 7th. Finally, Weiss Ratings raised Driven Brands from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday. Two equities research 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.77.

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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