Orchard Capital Management LLC Buys New Stake in Driven Brands Holdings Inc. $DRVN

Key Points

• Orchard Capital Management initiated a 131,785-share stake in Driven Brands worth approximately $1.84 million, representing 1.8% of its portfolio and 0.08% of the company. Institutional investors collectively own 77.08% of Driven Brands.
• Driven Brands shares opened at $13.17, below the consensus analyst price target of $16.77. The stock has traded between $9.80 and $19.74 over the past year, while its market capitalization is approximately $2.17 billion.
• The company reported quarterly EPS of $0.29, with an 8.61% net margin and 24.13% return on equity. Analysts maintain a “Moderate Buy” consensus rating, though some have lowered price targets or downgraded the stock to “Hold.”

Orchard Capital Management LLC purchased a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 131,785 shares of the company's stock, valued at approximately $1,837,000. Driven Brands comprises approximately 1.8% of Orchard Capital Management LLC's portfolio, making the stock its 25th largest holding. Orchard Capital Management LLC owned about 0.08% of Driven Brands as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Driven Brands during the second quarter worth about $67,107,000. Boston Partners lifted its stake in Driven Brands by 1,301.0% in the fourth quarter. Boston Partners now owns 3,426,388 shares of the company's stock valued at $50,783,000 after buying an additional 3,181,812 shares during the last quarter. Rubric Capital Management LP acquired a new stake in shares of Driven Brands in the first quarter valued at approximately $37,830,000. North Peak Capital Management LLC increased its holdings in shares of Driven Brands by 37.3% in the 4th 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 period. Finally, Conversant Capital LLC purchased a new stake in Driven Brands in the 1st quarter valued at $12,610,000. Institutional investors and hedge funds own 77.08% of the company's stock.

Driven Brands Price Performance

Driven Brands stock opened at $13.17 on Friday. The business has a fifty day moving average of $13.91 and a two-hundred day moving average of $13.50. 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 company has a market cap of $2.17 billion, a P/E ratio of 12.66 and a beta of 0.95. Driven Brands Holdings Inc. has a one year low of $9.80 and a one year 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%. As a group, analysts predict that Driven Brands Holdings Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DRVN shares. BMO Capital Markets reduced their target price on shares of Driven Brands from $18.00 to $14.00 and set a "market perform" rating for the company in a report on Thursday, May 21st. Robert W. Baird set a $18.00 price objective on Driven Brands and gave the company an "outperform" rating in a research note on Wednesday, May 20th. Wall Street Zen cut Driven Brands from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Morgan Stanley set a $14.00 target price on Driven Brands in a research note on Friday, August 7th. Finally, BTIG Research reissued a "buy" rating and issued a $17.00 target price on shares of Driven Brands in a report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.

Want to see what other hedge funds are holding DRVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source