Landscape Capital Management L.L.C. Acquires Shares of 364,178 Driven Brands Holdings Inc. $DRVN

Key Points

• Landscape Capital Management acquired 364,178 shares of Driven Brands in the second quarter, worth approximately $5.1 million and representing about 0.22% of the company. Institutional investors and hedge funds collectively own 77.08% of the stock.
• Driven Brands reported quarterly earnings of $0.29 per share, with a 24.13% return on equity and an 8.61% net margin; analysts expect full-year EPS of $1.12.
• The stock opened at $13.17, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $16.77, despite one recent downgrade to “sell.”

Landscape Capital Management L.L.C. bought a new position in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 364,178 shares of the company's stock, valued at approximately $5,077,000. Landscape Capital Management L.L.C. owned approximately 0.22% of Driven Brands as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Osaic Holdings Inc. increased its position in Driven Brands by 82.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company's stock worth $37,000 after purchasing an additional 941 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Driven Brands by 744.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company's stock worth $37,000 after buying an additional 1,854 shares during the last quarter. Comerica Bank raised its position in Driven Brands by 328.8% during the fourth quarter. Comerica Bank now owns 2,933 shares of the company's stock valued at $43,000 after acquiring an additional 2,249 shares in the last quarter. Larson Financial Group LLC raised its position in Driven Brands by 1,347.7% during the fourth quarter. Larson Financial Group LLC now owns 3,822 shares of the company's stock valued at $57,000 after acquiring an additional 3,558 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in Driven Brands by 420.2% in the first quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company's stock valued at $57,000 after acquiring an additional 3,635 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Stock Up 1.0%

DRVN opened at $13.17 on Friday. The firm has a market cap of $2.17 billion, a P/E ratio of 12.66 and a beta of 0.95. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.33 and a current ratio of 1.47. The business has a 50 day moving average price of $13.91 and a 200 day moving average price of $13.50. Driven Brands Holdings Inc. has a twelve month low of $9.80 and a twelve month high of $19.74.

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

Analyst Ratings Changes

Several research firms have commented on DRVN. Weiss Ratings downgraded shares of Driven Brands from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Royal Bank Of Canada reduced their price objective on shares of Driven Brands from $17.00 to $16.00 and set an "outperform" rating for the company in a research note on Friday, August 7th. Canaccord Genuity Group set a $17.00 price objective on shares of Driven Brands in a report on Friday, August 7th. Piper Sandler upped their price objective on shares of Driven Brands from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, May 20th. Finally, Robert W. Baird set a $18.00 target price on shares of Driven Brands and gave the stock an "outperform" rating in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Driven Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.77.

Driven Brands Company 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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